Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.117%

Price spread now: Aster against Lighter−0.080%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 7 days+0.209%+$21 · spread now −0.080%, 7d avg −0.040%

Together, before fees+0.002%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.040% cheaper against Lighter than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter ONDO	0.4326	0.0096	pay 0.0012% / 1h	33m 16s	$1.1M	$2.3M	10x
Short	Aster ONDOUSDT	0.4322	0.0100	get 0.0050% / 4h	3h 33m	$758K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.080%Rate

Funding earned: $0.84
Price spread: −0.080% → −0.040%: −$4
Slippage, 4 orders: −$28.71
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$39.87
Costs to cover: 0.367%
Break-even: 339.2 days

Slippage from Lighter: live order book, 4 min ago; Aster: live order book, 5 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 Lighter live order book, 4 min ago	4.38 bp	4.6 bp −$5	36.5 bp −$365	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	1.15 bp	8.6 bp −$9	38.6 bp −$386	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	−0.0177%	1h	0.4322	−0.095%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4333	+0.169%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.599%	$888	$216K	5.5x	as long as short
Lighter ONDOlong	+0.0096%	1h	0.4326	long leg	$1.1M	$2.3M	10x
Nado ONDO-PERP	+0.0100%	1h	0.4317	−0.203%	$342K	$887K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4322	−0.080%	$758K	$2.8M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4321	−0.122%	$63.1M	$233.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4318	−0.180%	$67.9M	$121.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4320	−0.134%	$17.3M	$71.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4336	+0.240%	$71K	$79K	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	0.4317	−0.197%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4317	−0.203%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4319	−0.157%	$44.1M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4318	−0.180%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4319	−0.157%	$24.9M	$36.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4320	−0.134%	—	$780K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4333	+0.155%	$179K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4332	+0.138%	$681K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4333	+0.171%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4333	+0.159%	$405K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4340	+0.328%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4318	−0.180%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4319	−0.157%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4319	−0.157%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4322	−0.088%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4331	+0.120%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4321	−0.111%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4322	−0.096%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4319	−0.148%	$359K	$822K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4322	−0.088%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4321	−0.111%	$18K	$351K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	+0.328%	$214K	$720K	50x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4320	−0.139%	$356	$2K	10x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4340	+0.331%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4320	−0.134%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0581% / S −0.0208%	1h	0.4316	−0.227%	$499K	—	100x	as long as short
Hyperliquid ONDO	+0.0586%	1h	0.4322	−0.079%	$36.4M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4332	+0.138%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3087%	1h	0.4326	0.000%	$243K	$155K	5x	as long as short