Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Binance against Nado−0.076%7-day average +0.014% · 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−$39as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Nado Short on Binance

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)−0.648%−$65 · spread now −0.076%, 7d avg +0.014%

Together, before fees−0.674%+ Points / potential airdropNado: Active · farm board−$67 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: Binance is 0.090% cheaper against Nado than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4422	0.0100	pay 0.0012% / 1h	26m 53s	$388K	$859K	10x
Short	Binance ONDOUSDT	0.4419	0.0100	get 0.0050% / 4h	2h 26m	$64.2M	$231.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.076%Rate

Funding earned: $0
Price spread: −0.076% → +0.014%: −$9.02
Slippage, 4 orders: −$13.04
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$39.07
Costs to cover: 0.300%
Break-even: 4013570693315233.5 days

Slippage from Nado: live order book, 41 min ago; Binance: live order book, 2 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, 41 min ago	1.31 bp	8.2 bp −$8	19.5 bp −$195	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	1.13 bp	9.0 bp −$9	17.8 bp −$178	54.7 bp −$5,469	352.4 bp −$176.2K

ONDO on 38 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	−0.0362%	1h	0.4416	−0.142%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4419	−0.062%	$250K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4417	−0.112%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.302%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4417	−0.113%	$24K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4422	long leg	$388K	$859K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4420	−0.045%	$671K	$2.1M	20x	as long as short
Binance ONDOUSDTshort	+0.0100%	4h	0.4419	−0.076%	$64.2M	$231.5M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4420	−0.045%	$70.0M	$125.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4422	0.000%	$17.1M	$75.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4400	−0.500%	$71K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4420	−0.056%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4416	−0.136%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4417	−0.113%	$44.2M	$43.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4417	−0.113%	$13.2M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4418	−0.090%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4419	−0.068%	—	$761K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4409	−0.298%	$767K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4413	−0.198%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4410	−0.271%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4415	−0.158%	$136K	$367K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4424	+0.036%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4418	−0.090%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4417	−0.113%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4425	+0.068%	$129K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4418	−0.091%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4415	−0.151%	$398K	$822K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4418	−0.090%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0106%	1h	0.4420	−0.047%	$202K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0298%	1h	0.4422	−0.007%	$39.1M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	0.000%	$284K	$746K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4409	−0.294%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4424	+0.054%	$364	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4418	−0.090%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4417	−0.104%	$487K	—	100x	as long as short
Phemex ONDOUSDT	+0.0692%	4h	0.4416	−0.136%	$4.2M	$7.4M	50x	as long as short
Lighter ONDO	+0.0824%	1h	0.4424	+0.038%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4422	+0.005%	$2K	—	20x	as long as short