Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Gate against Nado−0.094%7-day average −0.032% · 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−$59as in the Price arb table

costs, in and out, $10k−$530.530% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 3 days (all we have)−0.156%−$16 · spread now −0.094%, 7d avg −0.032%

Together, before fees−0.185%+ Points / potential airdropNado: Active · farm board−$19 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: Gate is 0.062% cheaper against Nado than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4522	0.0100	pay 0.0012% / 1h	43m 28s	$431K	$672K	10x
Short	Gate ONDO_USDT	0.4518	0.0100	get 0.0050% / 4h	2h 43m	$11.8M	$18.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.094%Rate

Funding earned: $0
Price spread: −0.094% → −0.032%: −$6.23
Slippage, 4 orders: −$30.96
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$59.19
Costs to cover: 0.530%
Break-even: 1993783703548632.3 days

Slippage from Nado: live order book, 44 min ago; Gate: live order book, 5 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, 44 min ago	0.78 bp	8.5 bp −$8	22.0 bp −$220	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.11 bp	19.6 bp −$20	40.4 bp −$404	50.7 bp −$5,068	81.1 bp −$40.6K

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	−0.1127%	1h	0.4512	−0.220%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4513	−0.205%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4512	−0.216%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4503	−0.430%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.349%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4512	−0.227%	$25K	$8K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4522	long leg	$431K	$672K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4521	−0.028%	$40.7M	$27.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4521	−0.032%	$757K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4523	+0.011%	$66.6M	$220.1M	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	0.4523	+0.017%	$73.4M	$117.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4522	−0.006%	$17.7M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4510	−0.278%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4523	+0.019%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4518	−0.094%	$11.8M	$18.7M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4516	−0.138%	$47.5M	$45.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4517	−0.116%	$14.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4523	+0.017%	$25.5M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4520	−0.050%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4514	−0.189%	$195K	$970K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4497	−0.558%	$799K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4507	−0.338%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4521	−0.017%	$425K	$929K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4507	−0.337%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4525	+0.050%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4511	−0.249%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4512	−0.227%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4522	−0.006%	$126K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4512	−0.227%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4517	−0.120%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4521	−0.033%	$402K	$986K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4514	−0.181%	$36K	—	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4512	−0.227%	$303K	$839K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4513	−0.205%	$3.3M	$3.0M	75x	as long as short
Lighter ONDO	+0.0448%	1h	0.4524	+0.043%	$1.4M	$2.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0456%	1h	0.4528	+0.132%	$373	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0617% / S −0.0203%	1h	0.4512	−0.237%	$561K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4521	−0.038%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0289%	1h	0.4517	−0.109%	$256K	$117K	5x	as long as short