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 −0.009%

Price spread now: SunX against Nado+0.122%7-day average +0.002% · 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−$143as in the Price arb table

costs, in and out, $10k−$1551.554% of the position

Long on Nado Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.026%−$3 on $10k

Price spread, last 3 days (all we have)−0.200%−$20 · spread now +0.122%, 7d avg +0.002%

Together, before fees−0.226%+ Points / potential airdropNado: Active · farm board−$23 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: SunX is 0.120% dearer against Nado than usual: you sell high and buy low, +$12 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	0.4520	0.0100	pay 0.0012% / 1h	22m 45s	$425K	$678K	10x
Short	SunX ONDO-USDT	0.4525	0.0100	get 0.0050% / 4h	2h 22m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.122%Rate

Funding earned: $0
Price spread: +0.122% → +0.002%: $11.96
Slippage, 4 orders: −$140.35
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$143.39
Costs to cover: 1.554%
Break-even: 4829898452475683.0 days

Slippage from Nado: live order book, 65 min ago; SunX: live order book, 12 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, 65 min ago	0.78 bp	8.5 bp −$8	22.0 bp −$220	doesn't fit	doesn't fit
Sell SunX live order book, 12 min ago	47.48 bp	70.1 bp −$70	doesn't fit	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	−0.1126%	1h	0.4518	−0.031%	$2.9M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4521	+0.033%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4520	+0.021%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4529	+0.212%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.055%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4520	+0.011%	$25K	$8K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4520	long leg	$425K	$678K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4524	+0.109%	$765K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4528	+0.180%	$66.8M	$220.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4525	+0.122%	$73.4M	$118.0M	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	0.4527	+0.166%	$17.7M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4534	+0.330%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4518	−0.038%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4523	+0.077%	$11.8M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4527	+0.166%	$47.7M	$45.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4520	+0.011%	$13.5M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4527	+0.166%	$25.7M	$41.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4523	+0.077%	—	$22.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4521	+0.044%	$193K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4536	+0.373%	$785K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4528	+0.190%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4529	+0.209%	$428K	$948K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4532	+0.277%	$160K	$331K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4521	+0.044%	$104K	$1.0M	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4525	+0.122%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4520	+0.011%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4528	+0.188%	$128K	$515K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4521	+0.033%	$4.8M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4526	+0.134%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4521	+0.037%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4522	+0.055%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0248%	1h	0.4532	+0.288%	$40.5M	$27.8M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4523	+0.077%	$304K	$839K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4521	+0.033%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4521	+0.027%	$372	$2K	10x	as long as short
Lighter ONDO	+0.0536%	1h	0.4535	+0.336%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0616% / S −0.0203%	1h	0.4520	+0.008%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4520	+0.011%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9924%	1h	0.4525	+0.115%	$256K	$128K	5x	as long as short