Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0051%/8h= +5.5% APRpaid last 24h −0.741%

Price spread now: Injective against Aster+0.359%77s7-day average −1.025% · you sell dearer than you buy

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

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−3.413%−$341 on $10k

Price spread, last 3 days (all we have)−1.161%−$116 · spread now +0.359%, 7d avg −1.025%

Together, before fees−4.574%+ Points / potential airdropAster: Stage 5 · farm board−$457 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Injective is 1.385% dearer against Aster than usual: you sell high and buy low: +$138 more if the spread goes back to its 7-day average of −1.025%. Mind the row above: over the last 7 days funding on this pair cost −3.413%, so the current rate has only just turned in your favour. The two prices were read 77 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	Aster ONDOUSDT	0.4552	0.0100	pay 0.0050% / 4h	1h 28m	$729K	$2.1M	20x
Short	Injective ONDO/USDC PERP	0.4568	0.0151	get 0.0019% / 1h	28m 02s	$888	$216K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now +0.359%Rate

Funding earned: $10.61
Price spread: +0.359% → −1.025%: $138.46
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $141.05
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Aster: live order book, 5 min ago; Injective: 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, 5 min ago	1.10 bp	8.0 bp −$8	43.7 bp −$437	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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	−0.0354%	1h	0.4547	−0.093%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4552	+0.012%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4550	−0.036%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4557	+0.118%	$430K	$699K	10x	as long as short
Aster ONDOUSDTlong	+0.0100%	4h	0.4552	long leg	$729K	$2.1M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4549	−0.061%	$67.2M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4547	−0.102%	$74.0M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4547	−0.102%	$17.7M	$81.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4538	−0.306%	$74K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4555	+0.078%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4546	−0.124%	$11.8M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4548	−0.080%	$47.8M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4551	−0.014%	$13.7M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4547	−0.102%	$25.7M	$41.8M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4547	−0.102%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4550	−0.043%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4539	−0.279%	$776K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4555	+0.082%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4540	−0.256%	$426K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	+0.030%	$161K	$334K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4560	+0.175%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4555	+0.074%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.080%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4563	+0.249%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4546	−0.124%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4553	+0.022%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4549	−0.055%	$407K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4553	+0.020%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4555	+0.063%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERPshort	+0.0151%	1h	0.4568	+0.359%	$888	$216K	5.5x
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4551	−0.014%	$26K	$396K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4564	+0.271%	$300K	$864K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4556	+0.096%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4566	+0.309%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0420%	1h	0.4551	−0.008%	$40.8M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0622% / S −0.0204%	1h	0.4552	+0.012%	$568K	—	100x	as long as short
Lighter ONDO	+0.0648%	1h	0.4557	+0.129%	$1.4M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4555	+0.071%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2869%	1h	0.4552	+0.017%	$258K	$129K	5x	as long as short