Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.028%

Price spread now: gTrade (Gains Network) against Aster−0.040%7-day average — · you buy dearer than you sell

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

Long on Aster Short on gTrade (Gains Network)

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 airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and gTrade (Gains Network) is 0.040% cheaper against Aster than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4384	0.0223	pay 0.0111% / 4h	19m 01s	$758K	$2.5M	20x
Short	gTrade (Gains Network) ONDO/USD	0.4382	L +0.0003% / S −0.0011%	get 0.0001% / 1h	19m 01s	$7K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against Aster. 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 AsterbpFee gTrade (Gains Network)bpOrdersPrice spread, now −0.040%Rate

Funding earned: −$44.5
Price spread: −0.040% → 0.000%: −$4.01
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$66.51
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 Aster live order book, 4 min ago	1.14 bp	5.7 bp −$6	39.7 bp −$397	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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
gTrade (Gains Network) ONDO/USDshort	L +0.0003% / S −0.0011%	1h	0.4382	−0.040%	$7K	—	150x
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4382	−0.042%	$2.6M	$7.8M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.191%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4388	+0.076%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4382	−0.052%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4385	+0.028%	$363K	$855K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4389	+0.097%	$37.8M	$24.8M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4384	−0.009%	$63.3M	$230.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4382	−0.052%	$67.7M	$126.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4383	−0.029%	$17.1M	$73.1M	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	0.4398	+0.304%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4385	+0.011%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4381	−0.074%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4381	−0.074%	$44.2M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4383	−0.029%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4383	−0.029%	$25.1M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4383	−0.029%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4384	−0.017%	$189K	$978K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4384	−0.013%	$711K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4388	+0.088%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	+0.131%	$411K	$1.1M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4387	+0.062%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4384	+0.003%	$68K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4384	−0.006%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4384	−0.006%	$456	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4401	+0.382%	$127K	$430K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4382	−0.052%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4383	−0.038%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4381	−0.072%	$395K	$798K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4386	+0.034%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0200%	1h	0.4386	+0.033%	$361	$2K	10x	as long as short
Aster ONDOUSDTlong	+0.0223%	4h	0.4384	long leg	$758K	$2.5M	20x
dYdX ONDO-USD	+0.0295%	1h	0.4384	−0.002%	$248K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4388	+0.085%	$271K	$728K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4388	+0.085%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4390	+0.131%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0435%	1h	0.4385	+0.017%	$18K	$367K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0607% / S −0.0219%	1h	0.4383	−0.039%	$521K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1152%	1h	0.4384	−0.002%	$2K	—	20x	as long as short