Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against OKX−0.181%7-day average +0.021% · 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−$54as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.547%+$55 · spread now −0.181%, 7d avg +0.021%

Together, before fees+0.575%+ Points / potential airdropNado: Active · farm board+$57 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: Nado is 0.202% cheaper against OKX than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX ONDO-USDT-SWAP	0.4414	0.0100	pay 0.0050% / 4h	1h 35m	$17.0M	$72.1M	50x
Short	Nado ONDO-PERP	0.4406	0.0100	get 0.0012% / 1h	35m 54s	$373K	$837K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now −0.181%Rate

Funding earned: $0
Price spread: −0.181% → +0.021%: −$20.22
Slippage, 4 orders: −$16.49
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$53.7
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Nado: live order book, 27 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 OKX live order book, 3 min ago	1.14 bp	9.3 bp −$9	20.0 bp −$200	doesn't fit	doesn't fit
Sell Nado live order book, 27 min ago	0.45 bp	6.5 bp −$7	16.8 bp −$168	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
dYdX ONDO-USD	0.0000%	1h	0.4403	−0.240%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4409	−0.118%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.489%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4413	−0.018%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4410	−0.091%	$24K	$6K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4406	−0.181%	$373K	$837K	10x
Binance ONDOUSDT	+0.0100%	4h	0.4415	+0.023%	$64.1M	$225.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4413	−0.023%	$69.6M	$122.6M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4414	long leg	$17.0M	$72.1M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4396	−0.417%	$72K	$86K	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	0.4404	−0.232%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4412	−0.045%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4415	+0.023%	$46.9M	$41.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4414	0.000%	$12.9M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4418	+0.091%	$25.2M	$39.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4414	0.000%	—	$758K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4409	−0.121%	$713K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4396	−0.403%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4389	−0.559%	$405K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4392	−0.498%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4407	−0.150%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4407	−0.159%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4415	+0.023%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4424	+0.227%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4416	+0.045%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4417	+0.057%	$399K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4415	+0.031%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0105%	8h	0.4409	−0.124%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0131%	4h	0.4417	+0.068%	$713K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0169%	1h	0.4418	+0.082%	$38.4M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0191%	1h	0.4418	+0.084%	$190K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4398	−0.372%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4400	−0.317%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4407	−0.159%	$283K	$703K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4409	−0.118%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4413	−0.023%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4408	−0.136%	$485K	—	100x	as long as short
Lighter ONDO	+0.0848%	1h	0.4424	+0.224%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4407	−0.160%	$2K	—	20x	as long as short