Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Nado against HTX−0.186%7-day average −0.154% · 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−$55as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.027%+$3 on $10k

Price spread, last 3 days (all we have)+0.255%+$25 · spread now −0.186%, 7d avg −0.154%

Together, before fees+0.282%+ Points / potential airdropNado: Active · farm board+$28 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 0.032% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.154%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4570	0.0100	pay 0.0050% / 4h	1h 36m	$132K	$512K	50x
Short	Nado ONDO-PERP	0.4561	0.0100	get 0.0012% / 1h	36m 39s	$431K	$697K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against HTX. 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 HTXbpFee NadobpOrdersPrice spread, now −0.186%Rate

Funding earned: $0
Price spread: −0.186% → −0.154%: −$3.21
Slippage, 4 orders: −$33.24
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$55.45
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from HTX: live order book, 47 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 HTX live order book, 47 min ago	11.04 bp	17.4 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 46 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	−0.0352%	1h	0.4566	−0.096%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4565	−0.101%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4566	−0.088%	$25K	$8K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4561	−0.186%	$431K	$697K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4565	−0.109%	$741K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4564	−0.121%	$67.2M	$225.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4565	−0.109%	$74.4M	$120.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4563	−0.153%	$17.8M	$81.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.061%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4565	−0.111%	—	—	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	0.4562	−0.175%	$11.9M	$18.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4565	−0.109%	$47.9M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4563	−0.153%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4565	−0.109%	$25.8M	$41.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4566	−0.088%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4572	+0.037%	$209K	$991K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4546	−0.526%	$798K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4609	+0.846%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4598	+0.614%	$431K	$938K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4562	−0.175%	$76K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4567	−0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4568	−0.044%	$475	$14K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4570	long leg	$132K	$512K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4567	−0.066%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4564	−0.132%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4564	−0.137%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4570	−0.011%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4553	−0.365%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4601	+0.678%	$894	$181K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0188%	1h	0.4568	−0.044%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.094%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4574	+0.088%	$301K	$867K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4568	−0.044%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4568	−0.046%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0503%	1h	0.4572	+0.042%	$40.9M	$27.5M	10x	as long as short
Lighter ONDO	+0.0576%	1h	0.4573	+0.077%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0594% / S −0.0191%	1h	0.4565	−0.100%	$549K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4560	−0.211%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1399%	1h	0.4566	−0.081%	$258K	$130K	5x	as long as short