Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h −0.025%

Price spread now: Aster against Kraken Futures+0.069%54s7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.476% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.257%−$26 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.069%, 7d avg −0.010%

Together, before fees−0.322%+ Points / potential airdropAster: Stage 5 · farm board−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Aster is 0.079% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.010%. Mind the row above: over the last 7 days funding on this pair cost −0.257%, so the current rate has only just turned in your favour. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4315	−0.0176	get 0.0022% / 1h	11m 29s	$2.5M	$7.7M	50x
Short	Aster ONDOUSDT	0.4318	0.0100	get 0.0050% / 4h	11m 29s	$763K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.069%Rate

Funding earned: $57.99
Price spread: +0.069% → −0.010%: $7.87
Slippage, 4 orders: −$29.62
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $18.25
Costs to cover: 0.476%
Break-even: 4.8 days

Slippage from Kraken Futures: live order book, 2 min ago; Aster: live order book, 2 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 Kraken Futures live order book, 2 min ago	3.47 bp	10.8 bp −$11	18.6 bp −$186	91.2 bp −$9,116	doesn't fit
Sell Aster live order book, 2 min ago	1.16 bp	7.9 bp −$8	36.2 bp −$362	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_ONDOUSDlong	−0.0176%	1h	0.4315	long leg	$2.5M	$7.7M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4315	−0.009%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.864%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4319	+0.096%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4316	+0.036%	$345K	$886K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4318	+0.069%	$763K	$2.8M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4316	+0.018%	$62.9M	$233.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4314	−0.022%	$68.0M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4317	+0.047%	$17.3M	$71.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4324	+0.198%	$71K	$80K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4315	−0.009%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4314	−0.022%	$13.0M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4315	+0.001%	$43.9M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4315	+0.001%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4316	+0.024%	$24.6M	$36.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4316	+0.024%	—	$23.0M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4315	+0.008%	$175K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4314	−0.026%	$678K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4314	−0.033%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4320	+0.116%	$403K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4319	+0.093%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4317	+0.047%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4315	+0.001%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4320	+0.117%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4317	+0.047%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4329	+0.325%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4317	+0.047%	$4.2M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4314	−0.028%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4315	0.000%	$357K	$817K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4318	+0.070%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4317	+0.047%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4316	+0.029%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4318	+0.070%	$213K	$731K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4325	+0.235%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4319	+0.093%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0385%	1h	0.4321	+0.133%	$36.5M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4317	+0.042%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4316	+0.033%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1711%	1h	0.4318	+0.059%	$242K	$156K	5x	as long as short