Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0008%/8h= +0.8% APRpaid last 24h −0.066%

Price spread now: Aster against Hyperliquid+0.079%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.299%−$30 on $10k

Price spread, last 7 days−0.123%−$12 · spread now +0.079%, 7d avg −0.028%

Together, before fees−0.422%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board−$42 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 0.107% dearer against Hyperliquid than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid ONDO	0.4395	0.0120	pay 0.0015% / 1h	41m 43s	$38.2M	$24.4M	10x
Short	Aster ONDOUSDT	0.4398	0.0127	get 0.0064% / 4h	1h 41m	$711K	$2.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now +0.079%Rate

Funding earned: $1.62
Price spread: +0.079% → −0.028%: $10.73
Slippage, 4 orders: −$17.33
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$21.98
Costs to cover: 0.343%
Break-even: 101.7 days

Slippage from Hyperliquid: live order book, 12 min ago; Aster: live order book, 2 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 Hyperliquid live order book, 12 min ago	0.79 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	1.13 bp	10.5 bp −$11	35.0 bp −$350	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
dYdX ONDO-USD	0.0000%	1h	0.4392	−0.057%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4405	+0.234%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.939%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4406	+0.263%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4406	+0.253%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4409	+0.315%	$374K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4393	−0.036%	$63.8M	$225.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4393	−0.043%	$69.3M	$122.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4395	+0.002%	$16.9M	$71.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4395	+0.007%	$72K	$86K	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	0.4411	+0.361%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4395	+0.002%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4395	+0.002%	$47.0M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4403	+0.184%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4393	−0.043%	$25.0M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4395	+0.002%	—	$758K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4381	−0.322%	$709K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4390	−0.121%	$5K	$321K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4382	−0.292%	$411K	$987K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4395	+0.002%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4410	+0.348%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4410	+0.344%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4409	+0.321%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4419	+0.548%	$130K	$476K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4405	+0.230%	$4.2M	$7.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4411	+0.370%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4396	+0.016%	$398K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4409	+0.323%	$38K	$13K	3x	as long as short
Hyperliquid ONDOlong	+0.0120%	1h	0.4395	long leg	$38.2M	$24.4M	10x
Aster ONDOUSDTshort	+0.0127%	4h	0.4398	+0.079%	$711K	$2.3M	20x
Backpack ONDO_USDC_PERP	+0.0202%	1h	0.4406	+0.255%	$190K	$980K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4399	+0.086%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4406	+0.253%	$3.2M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4405	+0.230%	$283K	$703K	50x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4415	+0.455%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0431%	1h	0.4408	+0.298%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4405	+0.222%	$486K	—	100x	as long as short
Lighter ONDO	+0.0880%	1h	0.4403	+0.177%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4409	+0.326%	$2K	—	20x	as long as short