Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: Nado against BloFin+0.064%7-day average −0.035% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.224%−$22 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.064%, 7d avg −0.035%

Together, before fees−0.277%+ Points / potential airdropNado: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.099% dearer against BloFin than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of −0.035%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ONDO-USDT	0.4330	0.0340	pay 0.0170% / 4h	3h 52m	$3.2M	$3.1M	75x
Short	Nado ONDO-PERP	0.4333	0.0100	get 0.0012% / 1h	52m 07s	$346K	$889K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BloFin. 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 BloFinbpFee NadobpOrdersPrice spread, now +0.064%Rate

Funding earned: −$50.4
Price spread: +0.064% → −0.035%: $9.86
Slippage, 4 orders: −$17.15
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$76.69
Costs to cover: 0.362%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Nado: live order book, 46 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 BloFin live order book, 6 min ago	2.31 bp	10.3 bp −$10	13.2 bp −$132	35.4 bp −$3,542	doesn't fit
Sell Nado live order book, 46 min ago	0.35 bp	9.0 bp −$9	19.3 bp −$193	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	−0.0176%	1h	0.4329	−0.016%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4331	+0.023%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4326	−0.096%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.497%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4335	+0.104%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4333	+0.064%	$346K	$889K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4334	+0.086%	$761K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4331	+0.023%	$63.3M	$234.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4329	−0.023%	$68.3M	$122.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4332	+0.046%	$17.3M	$72.0M	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	0.4339	+0.196%	$71K	$81K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4333	+0.059%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4330	0.000%	$13.1M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4331	+0.023%	$44.6M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4330	0.000%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4330	0.000%	$24.7M	$36.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4331	+0.023%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4331	+0.030%	$178K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4321	−0.213%	$679K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4315	−0.335%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4323	−0.173%	$407K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4313	−0.393%	$134K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4333	+0.058%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4329	−0.023%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4334	+0.092%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4330	0.000%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4342	+0.277%	$129K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4330	0.000%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4328	−0.045%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4328	−0.042%	$364K	$829K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4332	+0.039%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4339	+0.208%	$214K	$735K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4332	+0.051%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0304%	1h	0.4335	+0.118%	$357	$2K	10x	as long as short
BloFin ONDO-USDTlong	+0.0340%	4h	0.4330	long leg	$3.2M	$3.1M	75x
GMX ONDO/USD [ETH-USDC]	L +0.0574% / S −0.0203%	1h	0.4330	−0.003%	$495K	—	100x	as long as short
Hyperliquid ONDO	+0.0612%	1h	0.4337	+0.157%	$36.6M	$27.2M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4334	+0.081%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1608%	1h	0.4328	−0.039%	$243K	$155K	5x	as long as short