Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Nado against Aster−0.028%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.159%+$16 · spread now −0.028%, 7d avg −0.053%

Together, before fees+0.180%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board+$18 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: Nado is 0.025% dearer against Aster than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4536	0.0100	pay 0.0050% / 4h	2h 37m	$760K	$2.0M	20x
Short	Nado ONDO-PERP	0.4534	0.0100	get 0.0012% / 1h	37m 19s	$426K	$677K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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 AsterbpFee NadobpOrdersPrice spread, now −0.028%Rate

Funding earned: $0
Price spread: −0.028% → −0.053%: $2.51
Slippage, 4 orders: −$18.48
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$30.96
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from Aster: live order book, 1 min ago; Nado: live order book, 50 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 Aster live order book, 1 min ago	1.10 bp	10.4 bp −$10	39.6 bp −$396	doesn't fit	doesn't fit
Sell Nado live order book, 50 min ago	0.78 bp	7.0 bp −$7	23.1 bp −$231	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	−0.1121%	1h	0.4536	+0.015%	$3.0M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4535	−0.022%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4521	−0.325%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.298%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4536	+0.011%	$25K	$8K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4534	−0.028%	$426K	$677K	10x
Aster ONDOUSDTlong	+0.0100%	4h	0.4536	long leg	$760K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4536	+0.021%	$66.7M	$219.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4535	−0.011%	$73.6M	$117.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4534	−0.033%	$17.8M	$80.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4513	−0.492%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4533	−0.058%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4534	−0.033%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4536	+0.011%	$47.8M	$45.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4535	−0.011%	$14.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4535	−0.011%	$25.6M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4535	−0.011%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4533	−0.047%	$196K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4520	−0.353%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4518	−0.386%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4523	−0.277%	$417K	$936K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4521	−0.320%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4537	+0.024%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4536	+0.011%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4535	−0.011%	$471	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4544	+0.187%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4534	−0.033%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4532	−0.082%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4535	−0.016%	$404K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4537	+0.039%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0142%	1h	0.4540	+0.105%	$40.9M	$27.5M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0191%	1h	0.4538	+0.055%	$29K	$354K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4534	−0.033%	$305K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4515	−0.452%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0432%	1h	0.4539	+0.083%	$374	$2K	10x	as long as short
Lighter ONDO	+0.0496%	1h	0.4538	+0.057%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0619% / S −0.0203%	1h	0.4535	−0.022%	$564K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4536	+0.007%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0076%	1h	0.4530	−0.125%	$256K	$123K	5x	as long as short