Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0039%/8h= +4.3% APRpaid last 24h −0.106%

Price spread now: Aster against Kraken Futures+0.160%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.267%−$27 on $10k

Price spread, last 3 days (all we have)−0.156%−$16 · spread now +0.160%, 7d avg −0.023%

Together, before fees−0.423%+ Points / potential airdropAster: Stage 5 · farm board−$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Aster is 0.183% dearer against Kraken Futures than usual: you sell high and buy low: +$18 more if the spread goes back to its 7-day average of −0.023%. Mind the row above: over the last 7 days funding on this pair cost −0.267%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4411	0.0061	pay 0.0008% / 1h	56m 14s	$2.6M	$8.2M	50x
Short	Aster ONDOUSDT	0.4418	0.0100	get 0.0050% / 4h	1h 56m	$666K	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.160%Rate

Funding earned: $8.17
Price spread: +0.160% → −0.023%: $18.32
Slippage, 4 orders: −$34.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$26.22
Costs to cover: 0.527%
Break-even: 29.5 days

Slippage from Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago	4.54 bp	19.1 bp −$19	27.0 bp −$270	doesn't fit	doesn't fit
Sell Aster live order book, 2 min ago	1.14 bp	12.4 bp −$12	33.9 bp −$339	doesn't fit	doesn't fit

ONDO on 38 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	0.4406	−0.130%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4414	+0.052%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.552%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSDlong	+0.0061%	1h	0.4411	long leg	$2.6M	$8.2M	50x
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4414	+0.061%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4421	+0.214%	$378K	$832K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4418	+0.160%	$666K	$2.2M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4416	+0.106%	$64.1M	$225.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4415	+0.083%	$69.9M	$121.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4415	+0.083%	$17.1M	$72.3M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4391	−0.456%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4417	+0.135%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4413	+0.038%	$11.6M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4419	+0.174%	$46.8M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4417	+0.129%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4414	+0.061%	$25.1M	$39.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4417	+0.129%	—	$22.0M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4416	+0.100%	$766K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4415	+0.084%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4403	−0.182%	$406K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4405	−0.143%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4420	+0.204%	$79K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4413	+0.038%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4413	+0.038%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4422	+0.242%	$130K	$481K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4411	−0.007%	$4.2M	$7.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4417	+0.127%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4411	+0.002%	$398K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4415	+0.072%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0105%	1h	0.4390	−0.479%	$191K	$989K	15x	as long as short
Hyperliquid ONDO	+0.0140%	1h	0.4420	+0.208%	$38.7M	$24.2M	10x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4418	+0.160%	$35K	$214K	10x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4422	+0.244%	$364	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.242%	$284K	$706K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4414	+0.061%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4415	+0.088%	$487K	—	100x	as long as short
Lighter ONDO	+0.0632%	1h	0.4419	+0.163%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4419	+0.168%	$2K	—	20x	as long as short