Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.006%

Price spread now: Aster against Nado+0.143%48s7-day average +0.050% · 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—prices read too far apart to compare

costs, in and out, $10k−$320.318% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.243%−$24 · spread now +0.143%, 7d avg +0.050%

Together, before fees−0.258%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$26 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: Aster is 0.093% dearer against Nado than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.050%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4297	0.0100	pay 0.0012% / 1h	39m 41s	$350K	$876K	10x
Short	Aster ONDOUSDT	0.4303	0.0100	get 0.0050% / 4h	2h 39m	$775K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → +0.050%: $9.28
Slippage, 4 orders: −$16.79
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$22.51
Costs to cover: 0.318%
Break-even: 2312426621958663.0 days

Slippage from Nado: live order book, 9 min ago; Aster: live order book, 4 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 Nado live order book, 9 min ago	0.46 bp	7.7 bp −$8	18.8 bp −$188	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	2.31 bp	9.7 bp −$10	30.4 bp −$304	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	−0.0243%	1h	0.4301	+0.081%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4304	+0.157%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4300	+0.059%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0024%	1h	0.4302	+0.119%	$242K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.301%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0048%	1h	0.4297	+0.003%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4306	+0.194%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4302	+0.111%	$23K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4297	long leg	$350K	$876K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4303	+0.122%	$36.0M	$25.7M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDTshort	+0.0100%	4h	0.4303	+0.143%	$775K	$2.6M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4302	+0.102%	$61.9M	$234.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4299	+0.041%	$66.8M	$125.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4301	+0.087%	$17.1M	$72.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4298	+0.024%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4300	+0.054%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4302	+0.111%	$12.0M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4302	+0.111%	$42.3M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4300	+0.064%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4301	+0.087%	$24.6M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4301	+0.087%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4302	+0.115%	$176K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4307	+0.223%	$646K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.556%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4328	+0.714%	$408K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4322	+0.576%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4299	+0.034%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4303	+0.134%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4303	+0.134%	$447	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4312	+0.343%	$127K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4302	+0.111%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4301	+0.085%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4300	+0.056%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4304	+0.158%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+1.134%	$218K	$767K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4323	+0.606%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4307	+0.227%	$3.1M	$3.0M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4298	+0.022%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4298	+0.019%	$2K	—	20x	as long as short