Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against MEXC−0.058%7-day average +0.002% · 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−$23as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on MEXC Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.026%+$3 on $10k

Price spread, last 4 days (all we have)+0.210%+$21 · spread now −0.058%, 7d avg +0.002%

Together, before fees+0.236%+ Points / potential airdropNado: Active · farm board+$24 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 0.059% cheaper against MEXC than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4346	0.0100	pay 0.0050% / 4h	2h 14m	$43.3M	$42.6M	200x
Short	Nado ONDO-PERP	0.4344	0.0100	get 0.0012% / 1h	14m 07s	$349K	$883K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against MEXC. 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 MEXCbpFee NadobpOrdersPrice spread, now −0.058%Rate

Funding earned: $0
Price spread: −0.058% → +0.002%: −$5.92
Slippage, 4 orders: −$9.61
Fee MEXC: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$22.53
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; Nado: live order book, 34 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 MEXC live order book, 5 min ago	1.15 bp	1.2 bp −$1	3.7 bp −$37	15.0 bp −$1,497	85.5 bp −$42.7K
Sell Nado live order book, 34 min ago	0.46 bp	5.4 bp −$5	21.2 bp −$212	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	−0.0240%	1h	0.4343	−0.058%	$2.6M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4342	−0.087%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0011%	1h	0.4336	−0.225%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.108%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4349	+0.062%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4344	−0.058%	$349K	$883K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4349	+0.064%	$36.3M	$26.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4345	−0.023%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4346	+0.007%	$62.9M	$237.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4344	−0.046%	$67.8M	$126.3M	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	0.4347	+0.023%	$17.3M	$73.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4332	−0.322%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4341	−0.122%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4344	−0.046%	$12.2M	$16.6M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4346	long leg	$43.3M	$42.6M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4345	−0.023%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4347	+0.023%	$24.9M	$39.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4345	−0.023%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4346	0.000%	$176K	$988K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4334	−0.281%	$639K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4343	−0.079%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4341	−0.114%	$411K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4343	−0.069%	$133K	$356K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4344	−0.051%	$65K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4344	−0.046%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4342	−0.092%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4347	+0.023%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4352	+0.138%	$129K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4345	−0.023%	$4.2M	$8.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4341	−0.107%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4345	−0.015%	$391K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4348	+0.046%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0128%	1h	0.4343	−0.076%	$357	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4344	−0.046%	$218K	$761K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.002%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4340	−0.138%	$2.5M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0571% / S −0.0202%	1h	0.4342	−0.094%	$495K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0671%	1h	0.4347	+0.023%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4343	−0.069%	$2K	—	20x	as long as short