Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.103%

Price spread now: Aster against Coinbase International−0.736%7-day average −0.168% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$580.578% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.744%−$74 on $10k

Price spread, last 4 days (all we have)+0.537%+$54 · spread now −0.736%, 7d avg −0.168%

Together, before fees−0.207%+ Points / potential airdropAster: Stage 5 · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aster is 0.568% cheaper against Coinbase International than usual: you would sell low and buy high (−$57 if the spread goes back to its 7-day average of −0.168%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4346	0.0272	pay 0.0034% / 1h	34m 31s	$218K	$766K	50x
Short	Aster ONDOUSDT	0.4314	0.0100	get 0.0050% / 4h	2h 34m	$776K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.736%Rate

Funding earned: −$36.12
Price spread: −0.736% → −0.168%: −$56.79
Slippage, 4 orders: −$39.82
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$150.72
Costs to cover: 0.578%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 14 min ago; Aster: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 14 min ago	8.07 bp	26.2 bp −$26	79.1 bp −$791	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	2.32 bp	7.0 bp −$7	38.8 bp −$388	doesn't fit	doesn't fit

ONDO on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_ONDOUSD	−0.0241%	1h	0.4332	−0.319%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4332	−0.320%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0020%	1h	0.4313	−0.752%	$242K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.108%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0064%	1h	0.4313	−0.771%	$355	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4316	−0.693%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4314	−0.736%	$351K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4315	−0.718%	$36.1M	$26.0M	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4314	−0.736%	$776K	$2.6M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4312	−0.780%	$62.0M	$235.6M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4309	−0.851%	$67.2M	$125.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4312	−0.782%	$17.2M	$73.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	−0.732%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4311	−0.809%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4312	−0.782%	$12.1M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4312	−0.782%	$42.9M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4313	−0.759%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4312	−0.782%	$24.7M	$40.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4311	−0.805%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4330	−0.364%	$177K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4320	−0.602%	$648K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4316	−0.691%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4321	−0.585%	$400K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4316	−0.690%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4332	−0.327%	$68K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4333	−0.299%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4332	−0.322%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4335	−0.253%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	−0.138%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4332	−0.322%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4312	−0.791%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4311	−0.809%	$389K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4336	−0.221%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0272%	1h	0.4346	long leg	$218K	$766K	50x
Phoenix ONDO	+0.0332%	1h	0.4313	−0.764%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4332	−0.322%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4329	−0.391%	$487K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0673%	1h	0.4336	−0.230%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4332	−0.333%	$2K	—	20x	as long as short