Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Aster against Phemex−0.022%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 3 days (all we have)+0.246%+$25 · spread now −0.022%, 7d avg +0.046%

Together, before fees+0.441%+ Points / potential airdropAster: Stage 5 · farm board+$44 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 0.068% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ONDOUSDT	0.4514	0.0100	pay 0.0050% / 4h	2h 07m	$4.7M	$6.3M	50x
Short	Aster ONDOUSDT	0.4513	0.0100	get 0.0050% / 4h	2h 07m	$759K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Phemex. 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 PhemexbpFee AsterbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → +0.046%: −$6.81
Slippage, 4 orders: −$29.01
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$55.82
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Aster: live order book, 1 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 Phemex live order book, 6 min ago	2.22 bp	13.8 bp −$14	22.3 bp −$223	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	3.32 bp	9.9 bp −$10	34.3 bp −$343	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	−0.1127%	1h	0.4511	−0.071%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4515	+0.022%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4513	−0.022%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4500	−0.319%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.177%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4513	−0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4515	+0.028%	$423K	$681K	10x	as long as short
Aster ONDOUSDTshort	+0.0100%	4h	0.4513	−0.022%	$759K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4508	−0.137%	$66.4M	$221.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4506	−0.177%	$73.0M	$118.2M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4507	−0.155%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4520	+0.131%	$71K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4505	−0.194%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4505	−0.199%	$11.7M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4507	−0.155%	$47.2M	$45.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4510	−0.089%	$13.4M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4506	−0.177%	$25.5M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4506	−0.177%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4513	−0.013%	$193K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4506	−0.169%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4507	−0.155%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4517	+0.060%	$426K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4508	−0.133%	$159K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4516	+0.053%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4517	+0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4514	0.000%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4521	+0.155%	$129K	$519K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4514	long leg	$4.7M	$6.3M	50x
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4505	−0.196%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4506	−0.180%	$401K	$948K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4516	+0.054%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0283%	1h	0.4516	+0.045%	$40.3M	$27.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.554%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4512	−0.044%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4521	+0.151%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0536%	1h	0.4516	+0.044%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0191%	1h	0.4513	−0.022%	$543K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4514	+0.001%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9271%	1h	0.4508	−0.143%	$255K	$129K	5x	as long as short