Funding arb · Price arb /

ONDO

all ONDO markets

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: Nado against SunX+0.012%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−$153as in the Price arb table

costs, in and out, $10k−$1541.545% of the position

Long on SunX Short on Nado

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)+0.049%+$5 · spread now +0.012%, 7d avg −0.002%

Together, before fees+0.074%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4332	0.0100	pay 0.0050% / 4h	3h 08m	—	$1.4M	20x
Short	Nado ONDO-PERP	0.4333	0.0100	get 0.0012% / 1h	8m 02s	$357K	$862K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against SunX. 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 SunXbpFee NadobpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → −0.002%: $1.34
Slippage, 4 orders: −$139.45
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$153.11
Costs to cover: 1.545%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Nado: live order book, 45 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 SunX live order book, 6 min ago	47.09 bp	68.3 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 45 min ago	1.02 bp	9.8 bp −$10	26.1 bp −$261	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	−0.0162%	1h	0.4327	−0.122%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4330	−0.047%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.448%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4332	+0.009%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4330	−0.046%	$23K	$6K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4333	+0.012%	$357K	$862K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4328	−0.088%	$36.5M	$25.3M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4329	−0.062%	$62.4M	$232.8M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4328	−0.092%	$67.3M	$124.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4330	−0.046%	$17.0M	$72.3M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4330	−0.051%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4331	−0.029%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4328	−0.092%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4331	−0.023%	$42.4M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4329	−0.069%	$12.5M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4329	−0.069%	$24.8M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4327	−0.115%	—	$761K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4328	−0.088%	$179K	$979K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4330	−0.053%	$681K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4348	+0.364%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4349	+0.395%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4346	+0.323%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4329	−0.060%	$65K	$1.4M	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4332	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4330	−0.046%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.185%	$128K	$431K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4330	−0.046%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4332	−0.002%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4330	−0.050%	$390K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4333	+0.012%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0134%	4h	0.4329	−0.058%	$775K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4331	−0.025%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4335	+0.069%	$218K	$765K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4339	+0.150%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4330	−0.046%	$3.1M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0443%	1h	0.4333	+0.023%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0553% / S −0.0193%	1h	0.4330	−0.056%	$481K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4330	−0.036%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1310%	1h	0.4331	−0.030%	$248K	$133K	5x	as long as short