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: KuCoin against Nado−0.040%7-day average +0.018% · 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−$58as in the Price arb table

costs, in and out, $10k−$520.517% of the position

Long on Nado Short on KuCoin

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)−0.123%−$12 · spread now −0.040%, 7d avg +0.018%

Together, before fees−0.147%+ Points / potential airdropNado: Active · farm board−$15 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: KuCoin is 0.058% 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 +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4370	0.0100	pay 0.0013% / 1h	27m 21s	$361K	$841K	10x
Short	KuCoin ONDOUSDTM	0.4368	0.0100	get 0.0050% / 4h	3h 27m	$12.7M	$10.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.040%Rate

Funding earned: $0
Price spread: −0.040% → +0.018%: −$5.82
Slippage, 4 orders: −$32.74
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$57.56
Costs to cover: 0.517%
Break-even: never at this rate

Slippage from Nado: live order book, 26 min ago; KuCoin: live order book, 1 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, 26 min ago	1.02 bp	7.7 bp −$8	17.0 bp −$170	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	1.14 bp	14.8 bp −$15	25.2 bp −$252	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	−0.0160%	1h	0.4369	−0.025%	$2.6M	$7.7M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4369	−0.024%	$247K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4368	−0.041%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.537%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4373	+0.070%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4368	−0.040%	$24K	$6K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4370	+0.016%	$63.2M	$230.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4367	−0.063%	$67.9M	$124.4M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4369	−0.017%	$17.1M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4372	+0.047%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4368	−0.047%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4368	−0.040%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4369	−0.017%	$43.5M	$41.9M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4368	−0.040%	$12.7M	$10.5M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4370	+0.006%	$25.0M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4369	−0.017%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4370	+0.013%	$184K	$979K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4390	+0.457%	$717K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4379	+0.220%	$4K	$314K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4379	+0.212%	$411K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4390	+0.463%	$135K	$353K	50x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4370	long leg	$361K	$841K	10x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4370	−0.003%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4376	+0.143%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4371	+0.029%	$454	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4385	+0.349%	$130K	$432K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4373	+0.074%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4366	−0.078%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4368	−0.046%	$395K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4371	+0.019%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0176%	1h	0.4369	−0.029%	$360	$2K	10x	as long as short
Aster ONDOUSDT	+0.0182%	4h	0.4371	+0.029%	$785K	$2.6M	20x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0208%	1h	0.4371	+0.029%	$18K	$362K	25x	as long as short
Hyperliquid ONDO	+0.0229%	1h	0.4373	+0.077%	$37.6M	$24.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4390	+0.463%	$260K	$718K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4377	+0.164%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4383	+0.303%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0556% / S −0.0193%	1h	0.4368	−0.046%	$486K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4370	−0.003%	$2K	—	20x	as long as short