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% APRpaid last 24h +0.007%

Price spread now: Nado against BingX−0.016%7-day average +0.011% · 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−$38as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on BingX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 3 days (all we have)+0.149%+$15 · spread now −0.016%, 7d avg +0.011%

Together, before fees+0.177%+ Points / potential airdropNado: 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 0.027% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4573	0.0100	pay 0.0050% / 4h	5m 50s	—	$22.2M	—
Short	Nado ONDO-PERP	0.4572	0.0100	get 0.0012% / 1h	5m 50s	$439K	$705K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BingX. 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 BingXbpFee NadobpOrdersPrice spread, now −0.016%Rate

Funding earned: $0
Price spread: −0.016% → +0.011%: −$2.74
Slippage, 4 orders: −$18.08
Fee BingX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$37.82
Costs to cover: 0.351%
Break-even: never at this rate

Slippage from BingX: live order book, 8 min ago; Nado: live order book, 7 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 BingX live order book, 8 min ago	2.19 bp	11.2 bp −$11	16.0 bp −$160	38.5 bp −$3,847	213.5 bp −$106.7K
Sell Nado live order book, 7 min ago	0.66 bp	9.7 bp −$10	20.3 bp −$203	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	−0.0798%	1h	0.4572	−0.033%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.109%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4571	−0.044%	$35K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4570	−0.062%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4568	−0.109%	$25K	$6K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4572	−0.016%	$439K	$705K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4577	+0.092%	$40.5M	$26.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4576	+0.066%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4574	+0.022%	$68.4M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4574	+0.022%	$74.1M	$120.6M	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	0.4573	0.000%	$17.7M	$80.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4572	−0.031%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4572	−0.030%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4570	−0.066%	$12.0M	$18.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4568	−0.109%	$49.0M	$43.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4572	−0.022%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4573	0.000%	$25.8M	$40.2M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4573	long leg	—	$22.2M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4574	+0.013%	$229K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4568	−0.112%	$809K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4566	−0.163%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4566	−0.157%	$421K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4565	−0.175%	$173K	$310K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4575	+0.037%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4566	−0.153%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4572	−0.022%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4578	+0.109%	$134K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4572	−0.022%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4572	−0.018%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4573	−0.003%	$409K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4572	−0.021%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	−0.171%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4575	+0.033%	$376	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4576	+0.066%	$298K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4569	−0.087%	$3.3M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4569	−0.089%	$545K	—	100x	as long as short
Lighter ONDO	+0.0672%	1h	0.4581	+0.175%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4568	−0.113%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2612%	1h	0.4570	−0.059%	$259K	$132K	5x	as long as short