Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: edgeX against Nado−0.031%7-day average +0.002% · 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−$350.352% of the position

Long on Nado Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.028%−$3 on $10k

Price spread, last 3 days (all we have)−0.070%−$7 · spread now −0.031%, 7d avg +0.002%

Together, before fees−0.099%+ Points / potential airdropNado: Active · edgeX: Active · farm board−$10 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: edgeX is 0.034% cheaper against Nado than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4578	0.0100	pay 0.0012% / 1h	58m 58s	$441K	$706K	10x
Short	edgeX ONDOUSDC	0.4577	0.0100	get 0.0050% / 4h	3h 58m	$5K	$320K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → +0.002%: −$3.35
Slippage, 4 orders: −$19.2
Fee Nado: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$38.56
Costs to cover: 0.352%
Break-even: 3961293916991957.5 days

Slippage from Nado: live order book, 14 min ago; edgeX: live order book, 14 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, 14 min ago	0.66 bp	7.0 bp −$7	16.1 bp −$161	doesn't fit	doesn't fit
Sell edgeX live order book, 14 min ago	4.38 bp	8.9 bp −$9	14.8 bp −$148	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	−0.0872%	1h	0.4578	−0.007%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4579	+0.022%	$33K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4577	−0.011%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.218%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4577	−0.022%	$25K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4578	long leg	$441K	$706K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4581	+0.066%	$40.5M	$26.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4581	+0.075%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4577	−0.031%	$68.4M	$226.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4578	0.000%	$74.1M	$120.5M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4580	+0.044%	$17.7M	$80.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4586	+0.179%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4577	−0.020%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4575	−0.066%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4580	+0.044%	$49.1M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4578	0.000%	$14.2M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4580	+0.044%	$25.9M	$40.2M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4577	−0.022%	—	$742K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4578	0.000%	$231K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4574	−0.090%	$815K	$2.0M	—	as long as short
edgeX ONDOUSDCshort	+0.0100%	4h	0.4577	−0.031%	$5K	$320K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4581	+0.065%	$423K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4577	−0.022%	$174K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4581	+0.061%	$69K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4577	−0.022%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4579	+0.022%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4587	+0.197%	$134K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4579	+0.022%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4578	+0.007%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4580	+0.035%	$409K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4581	+0.066%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4585	+0.151%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4581	+0.074%	$377	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4581	+0.066%	$297K	$844K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4580	+0.044%	$3.3M	$3.3M	75x	as long as short
Lighter ONDO	+0.0416%	1h	0.4587	+0.186%	$1.5M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4577	−0.019%	$547K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4577	−0.026%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2307%	1h	0.4581	+0.059%	$259K	$132K	5x	as long as short