Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Nado+0.023%7-day average +0.001% · 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−$36as in the Price arb table

costs, in and out, $10k−$380.381% of the position

Long on Nado Short on Bitget

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 4 days (all we have)−0.217%−$22 · spread now +0.023%, 7d avg +0.001%

Together, before fees−0.242%+ 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: Bitget is 0.022% dearer against Nado than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4394	0.0100	pay 0.0012% / 1h	31m 20s	$363K	$845K	10x
Short	Bitget ONDOUSDT	0.4395	0.0100	get 0.0050% / 4h	3h 31m	$25.2M	$40.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.023%Rate

Funding earned: $0
Price spread: +0.023% → +0.001%: $2.22
Slippage, 4 orders: −$19.05
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$35.84
Costs to cover: 0.381%
Break-even: 3681908919585514.5 days

Slippage from Nado: live order book, 22 min ago; Bitget: live order book, 3 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, 22 min ago	1.02 bp	7.7 bp −$8	17.0 bp −$170	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.14 bp	12.0 bp −$12	19.7 bp −$197	49.1 bp −$4,911	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	−0.0159%	1h	0.4391	−0.078%	$2.6M	$7.7M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4379	−0.352%	$248K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4391	−0.075%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.960%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4386	−0.175%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4393	−0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4394	long leg	$363K	$845K	10x
Binance ONDOUSDT	+0.0100%	4h	0.4395	+0.013%	$63.5M	$230.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4393	−0.023%	$68.3M	$125.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4393	−0.023%	$17.2M	$73.0M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4388	−0.137%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4388	−0.131%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4391	−0.068%	$11.8M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4392	−0.046%	$43.7M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4389	−0.114%	$12.7M	$10.5M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4395	+0.023%	$25.2M	$40.0M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4393	−0.023%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4380	−0.314%	$184K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4375	−0.438%	$714K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4379	−0.335%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4382	−0.269%	$405K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4378	−0.364%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4393	−0.025%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4393	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4393	−0.023%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4401	+0.159%	$130K	$432K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4393	−0.023%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4378	−0.354%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4393	−0.029%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4395	+0.034%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4390	−0.086%	$361	$2K	10x	as long as short
Aster ONDOUSDT	+0.0194%	4h	0.4394	−0.002%	$797K	$2.6M	20x	as long as short
Hyperliquid ONDO	+0.0254%	1h	0.4396	+0.036%	$37.8M	$24.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4390	−0.091%	$260K	$738K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4385	−0.216%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4384	−0.228%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0557% / S −0.0193%	1h	0.4391	−0.073%	$488K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0661%	1h	0.4396	+0.046%	$18K	$367K	25x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4392	−0.036%	$2K	—	20x	as long as short