Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.575%

Price spread now: Aster against Injective−3.272%7-day average +0.973% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+3.418%+$342 on $10k

Price spread, last 3 days (all we have)+4.134%+$413 · spread now −3.272%, 7d avg +0.973%

Together, before fees+7.553%+ Points / potential airdropAster: Stage 5 · farm board+$755 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 4.244% cheaper against Injective than usual: you would sell low and buy high (spread −3.272% now, against its 7-day average of +0.973%). If the spread goes back, that is −$424 on $10k: about 7 months of funding at the current rate (+$2 a day). At the pace of the last 7 days (+3.418% in total) that is about 8.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective ONDO/USDC PERP	0.4568	0.0033	pay 0.0004% / 1h	21m 09s	$888	$216K	5.5x
Short	Aster ONDOUSDT	0.4419	0.0100	get 0.0050% / 4h	2h 21m	$674K	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpFee AsterbpOrdersPrice spread, now −3.272%Rate

Funding earned: $14
Price spread: −3.272% → +0.973%: −$424.45
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$418.47
Costs to cover: 0.080%
Break-even: 216.2 days

Slippage unknown: Injective: no order-book sample; Aster: live order book, 2 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Aster live order book, 2 min ago	1.13 bp	5.7 bp −$6	36.3 bp −$363	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ONDO on 38 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	−0.0362%	1h	0.4412	−3.419%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4416	−3.317%	$250K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4415	−3.353%	$6K	—	150x	as long as short
Injective ONDO/USDC PERPlong	+0.0033%	1h	0.4568	long leg	$888	$216K	5.5x
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4412	−3.415%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4418	−3.273%	$387K	$860K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4419	−3.272%	$674K	$2.1M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4412	−3.415%	$64.0M	$231.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4411	−3.437%	$69.9M	$125.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4410	−3.459%	$17.1M	$75.6M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4425	−3.139%	$72K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4416	−3.317%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4416	−3.327%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4411	−3.437%	$45.6M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4413	−3.393%	$13.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4411	−3.437%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4410	−3.459%	—	$22.3M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4422	−3.201%	$770K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4416	−3.318%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4419	−3.272%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4416	−3.327%	$136K	$366K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4420	−3.249%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4415	−3.349%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4415	−3.349%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4426	−3.109%	$130K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4418	−3.287%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4413	−3.387%	$398K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4415	−3.349%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0131%	1h	0.4411	−3.435%	$201K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0294%	1h	0.4422	−3.194%	$39.0M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	−3.196%	$284K	$745K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4425	−3.126%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4420	−3.240%	$364	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4416	−3.327%	$23K	$349K	25x	as long as short
Phemex ONDOUSDT	+0.0516%	4h	0.4411	−3.437%	$4.2M	$7.4M	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4414	−3.362%	$487K	—	100x	as long as short
Lighter ONDO	+0.0776%	1h	0.4418	−3.277%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4419	−3.258%	$2K	—	20x	as long as short