Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.028%

Price spread now: Nado against GRVT−0.289%7-day average +0.018% · 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−$71as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on GRVT Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.047%+$5 on $10k

Price spread, last 3 days (all we have)+0.296%+$30 · spread now −0.289%, 7d avg +0.018%

Together, before fees+0.343%+ Points / potential airdropGRVT: Active · Nado: Active · farm board+$34 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 0.307% cheaper against GRVT than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT ONDO_USDT_Perp	0.4572	0.0100	pay 0.0050% / 4h	1h 35m	$429K	$938K	10x
Short	Nado ONDO-PERP	0.4559	0.0100	get 0.0012% / 1h	35m 34s	$431K	$697K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against GRVT. 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 GRVTbpFee NadobpOrdersPrice spread, now −0.289%Rate

Funding earned: $0
Price spread: −0.289% → +0.018%: −$30.71
Slippage, 4 orders: −$24.67
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$71.39
Costs to cover: 0.407%
Break-even: never at this rate

Slippage from GRVT: live order book, 47 min ago; Nado: live order book, 48 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 GRVT live order book, 47 min ago	3.31 bp	10.9 bp −$11	24.7 bp −$247	doesn't fit	doesn't fit
Sell Nado live order book, 48 min ago	0.66 bp	7.4 bp −$7	23.3 bp −$233	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	−0.0353%	1h	0.4558	−0.314%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4563	−0.195%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4562	−0.223%	$25K	$8K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4559	−0.289%	$431K	$697K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4559	−0.290%	$740K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4562	−0.229%	$67.1M	$225.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4562	−0.223%	$74.3M	$120.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4561	−0.245%	$17.7M	$81.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.013%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4559	−0.283%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4555	−0.376%	$11.8M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4554	−0.398%	$47.8M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4555	−0.376%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4562	−0.223%	$25.8M	$41.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4557	−0.333%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4560	−0.258%	$221K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	−0.574%	$798K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4571	−0.031%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perplong	+0.0100%	4h	0.4572	long leg	$429K	$938K	10x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4563	−0.199%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4561	−0.245%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4561	−0.245%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4572	−0.004%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4559	−0.289%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4554	−0.400%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4558	−0.305%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4566	−0.136%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4553	−0.413%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4601	+0.630%	$894	$181K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0188%	1h	0.4564	−0.179%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.045%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4574	+0.039%	$301K	$867K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4568	−0.092%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4563	−0.197%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0488%	1h	0.4558	−0.319%	$40.8M	$27.5M	10x	as long as short
Lighter ONDO	+0.0592%	1h	0.4563	−0.190%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0594% / S −0.0191%	1h	0.4562	−0.233%	$549K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4563	−0.202%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1481%	1h	0.4554	−0.387%	$258K	$130K	5x	as long as short