Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0175%/8h= −19.1% APRpaid last 24h −0.136%

Price spread now: Aster against Coinbase International−0.130%7-day average −0.174% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$590.595% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.753%−$75 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now −0.130%, 7d avg −0.174%

Together, before fees−0.798%+ Points / potential airdropAster: Stage 5 · farm board−$80 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.044% dearer against Coinbase International than usual: you sell high and buy low (spread −0.130% now, against its 7-day average of −0.174%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.753% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International ONDO-PERP-INTX	0.4605	0.0280	pay 0.0035% / 1h	8m 03s	$300K	$818K	50x
Short	Aster ONDOUSDT	0.4599	0.0105	get 0.0053% / 4h	3h 08m	$725K	$2.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.130%Rate

Funding earned: −$36.67
Price spread: −0.130% → −0.174%: $4.39
Slippage, 4 orders: −$41.48
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$91.76
Costs to cover: 0.595%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 65 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 Coinbase International live order book, 65 min ago	8.77 bp	25.9 bp −$26	46.2 bp −$462	doesn't fit	doesn't fit
Sell Aster live order book, 5 min ago	1.08 bp	9.4 bp −$9	31.3 bp −$313	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	−0.0869%	1h	0.4596	−0.187%	$2.8M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4598	−0.145%	$260K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4597	−0.173%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.803%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4596	−0.195%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4600	−0.114%	$431K	$706K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4595	−0.226%	$68.8M	$221.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4592	−0.282%	$74.0M	$119.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4593	−0.261%	$17.6M	$77.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4593	−0.263%	$73K	$91K	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	0.4595	−0.216%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4592	−0.282%	$12.1M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4596	−0.195%	$49.4M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4597	−0.174%	$14.3M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4593	−0.261%	$26.1M	$38.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4593	−0.261%	—	$743K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4599	−0.136%	$817K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4605	−0.004%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4614	+0.188%	$426K	$967K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4607	+0.043%	$172K	$335K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4601	−0.087%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4599	−0.130%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4597	−0.174%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4607	+0.043%	$135K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4596	−0.195%	$4.5M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4595	−0.225%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4593	−0.250%	$417K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4601	−0.078%	$40K	$13K	3x	as long as short
Aster ONDOUSDTshort	+0.0105%	4h	0.4599	−0.130%	$725K	$2.1M	20x
Backpack ONDO_USDC_PERP	+0.0114%	1h	0.4593	−0.261%	$231K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4613	+0.174%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4600	−0.111%	$379	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTXlong	+0.0280%	1h	0.4605	long leg	$300K	$818K	50x
BloFin ONDO-USDT	+0.0340%	4h	0.4604	−0.022%	$3.3M	$3.0M	75x	as long as short
Hyperliquid ONDO	+0.0370%	1h	0.4598	−0.161%	$40.9M	$24.8M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0403%	1h	0.4598	−0.152%	$34K	$341K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0188%	1h	0.4597	−0.176%	$549K	—	100x	as long as short
Lighter ONDO	+0.0672%	1h	0.4605	−0.009%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4600	−0.114%	$2K	—	20x	as long as short