Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: BingX against Nado0.000%7-day average −0.012% · 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−$130as in the Price arb table

costs, in and out, $10k−$1311.311% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$2 on $10k

Price spread, last 3 days (all we have)−0.104%−$10 · spread now 0.000%, 7d avg −0.012%

Together, before fees−0.129%+ Points / potential airdropNado: Active · farm board−$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4577	0.0100	pay 0.0012% / 1h	38m 36s	$435K	$709K	10x
Short	BingX ONDO-USDC	0.4577	0.0100	get 0.0050% / 4h	3h 38m	—	$741K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.012%: $1.21
Slippage, 4 orders: −$114.14
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$129.92
Costs to cover: 1.311%
Break-even: 13348198887129832.0 days

Slippage from Nado: live order book, 35 min ago; BingX: live order book, 50 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, 35 min ago	0.66 bp	7.0 bp −$7	16.1 bp −$161	doesn't fit	doesn't fit
Sell BingX live order book, 50 min ago	2.20 bp	51.5 bp −$52	93.3 bp −$933	644.5 bp −$64.4K	1037.6 bp −$518.8K

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	−0.0874%	1h	0.4570	−0.154%	$2.8M	$8.0M	50x	as long as short
Gate ONDO_USDT	−0.0026%	4h	0.4574	−0.066%	$12.0M	$16.6M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4571	−0.125%	$259K	$132K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4571	−0.131%	$33K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4573	−0.085%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.197%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4572	−0.109%	$25K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4577	long leg	$435K	$709K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4574	−0.065%	$722K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4577	−0.004%	$68.4M	$225.3M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4576	−0.022%	$74.2M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4575	−0.044%	$17.5M	$79.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4595	+0.387%	$76K	$90K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4576	−0.014%	—	—	5x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4573	−0.087%	$49.5M	$41.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4574	−0.066%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4576	−0.022%	$25.9M	$39.8M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4577	0.000%	—	$741K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4574	−0.061%	$228K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4583	+0.126%	$819K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4583	+0.126%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4596	+0.422%	$426K	$959K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4581	+0.087%	$173K	$338K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4579	+0.042%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4580	+0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4571	−0.131%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4581	+0.087%	$134K	$502K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4572	−0.109%	$4.5M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4570	−0.149%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4576	−0.016%	$409K	$836K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4577	−0.004%	$40K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0144%	1h	0.4577	+0.002%	$40.6M	$25.3M	10x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4577	+0.011%	$377	$2K	10x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4585	+0.170%	$38K	$248K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4591	+0.306%	$299K	$823K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4573	−0.087%	$3.2M	$3.1M	75x	as long as short
Lighter ONDO	+0.0544%	1h	0.4580	+0.068%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4574	−0.076%	$546K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4575	−0.049%	$2K	—	20x	as long as short