Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1045%/8h= −114.4% APRpaid last 24h −0.306%

Price spread now: Aster against Reya+0.092%46s7-day average — · you sell dearer than you buy

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

Long on Reya Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Aster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.092% dearer against Reya than usual: you sell high and buy low (spread +0.092% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 7 hours. The two prices were read 46 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	Reya ONDORUSDPERP	0.4616	0.1145	pay 0.0143% / 1h	25m 38s	$2K	—	20x
Short	Aster ONDOUSDT	0.4620	0.0100	get 0.0050% / 4h	3h 25m	$730K	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Reya. 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 ReyabpFee AsterbpOrdersPrice spread, now +0.092%Rate

Funding earned: −$219.49
Price spread: +0.092% → 0.000%: $9.18
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: −$224.31
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Aster: live order book, 3 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 Reya no order-book sample	—	—	—	—	—
Sell Aster live order book, 3 min ago	3.25 bp	8.5 bp −$8	30.1 bp −$301	doesn't fit	doesn't fit

Reya: 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 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	−0.0865%	1h	0.4618	+0.046%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4617	+0.032%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4616	+0.007%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.035%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4615	−0.017%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4614	−0.038%	$433K	$710K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4620	+0.092%	$730K	$2.1M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4617	+0.027%	$69.2M	$223.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4616	+0.005%	$74.6M	$119.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4615	−0.017%	$17.7M	$78.9M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	−0.606%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4614	−0.043%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4614	−0.038%	$12.1M	$16.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4616	+0.005%	$50.3M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4619	+0.070%	$14.3M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4616	+0.005%	$26.2M	$39.0M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4616	+0.005%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4622	+0.137%	$232K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4616	−0.001%	$820K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4600	−0.333%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4605	−0.225%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4601	−0.320%	$172K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4618	+0.057%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4610	−0.125%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4619	+0.070%	$480	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4627	+0.243%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4619	+0.070%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4614	−0.043%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4614	−0.033%	$417K	$826K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4620	+0.092%	$40K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4603	−0.285%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0264%	1h	0.4610	−0.118%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	+0.330%	$300K	$827K	50x	as long as short
Hyperliquid ONDO	+0.0317%	1h	0.4624	+0.172%	$41.1M	$25.6M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4596	−0.428%	$3.3M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0400%	1h	0.4619	+0.070%	$34K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4616	+0.014%	$551K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4625	+0.189%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERPlong	+0.1145%	1h	0.4616	long leg	$2K	—	20x