Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Nado−0.139%7-day average +0.034% · 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−$49as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.226%+$23 on $10k

Price spread, last 4 days (all we have)+0.172%+$17 · spread now −0.139%, 7d avg +0.034%

Together, before fees+0.398%+ Points / potential airdropNado: Active · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.172% cheaper against Nado than usual: you would sell low and buy high (spread −0.139% now, against its 7-day average of +0.034%). If the spread goes back, that is −$17 on $10k: about 2.4 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4323	0.0100	pay 0.0012% / 1h	36m 16s	$352K	$875K	10x
Short	BloFin ONDO-USDT	0.4317	0.0340	get 0.0170% / 4h	2h 36m	$3.1M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.139%Rate

Funding earned: $50.4
Price spread: −0.139% → +0.034%: −$17.23
Slippage, 4 orders: −$13.01
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $1.16
Costs to cover: 0.320%
Break-even: 6.8 days

Slippage from Nado: live order book, 12 min ago; BloFin: 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, 12 min ago	0.46 bp	7.7 bp −$8	18.8 bp −$188	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	3.48 bp	9.5 bp −$9	14.8 bp −$148	36.5 bp −$3,651	101.2 bp −$50.6K

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	−0.0242%	1h	0.4320	−0.080%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4321	−0.045%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0021%	1h	0.4323	+0.007%	$243K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.667%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0048%	1h	0.4326	+0.065%	$356	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4327	+0.086%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4323	long leg	$352K	$875K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4325	+0.042%	$36.2M	$25.9M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4324	+0.027%	$777K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4324	+0.033%	$62.2M	$235.4M	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	0.4321	−0.046%	$67.2M	$125.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4320	−0.069%	$17.2M	$73.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4314	−0.204%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4324	+0.029%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4321	−0.046%	$12.1M	$16.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4322	−0.023%	$42.9M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4321	−0.046%	$12.1M	$10.6M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4322	−0.023%	$24.8M	$40.0M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4322	−0.023%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4321	−0.044%	$177K	$986K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4307	−0.374%	$646K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4303	−0.460%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4305	−0.412%	$404K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4301	−0.509%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4325	+0.051%	$68K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4321	−0.046%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4322	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4321	−0.046%	$449	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4330	+0.162%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4324	+0.023%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4324	+0.025%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4319	−0.089%	$389K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4322	−0.016%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4322	−0.023%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.532%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4313	−0.236%	$34K	$223K	10x	as long as short
BloFin ONDO-USDTshort	+0.0340%	4h	0.4317	−0.139%	$3.1M	$3.1M	75x
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4321	−0.056%	$486K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4322	−0.028%	$2K	—	20x	as long as short