Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.004%

Price spread now: Nado against BingX+0.060%7-day average +0.012% · 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−$126as in the Price arb table

costs, in and out, $10k−$1311.311% of the position

Long on BingX 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 3 days (all we have)+0.045%+$4 · spread now +0.060%, 7d avg +0.012%

Together, before fees+0.069%+ Points / potential airdropNado: Active · farm board+$7 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 0.047% dearer against BingX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDC	0.4616	0.0100	pay 0.0050% / 4h	3h 25m	—	$744K	—
Short	Nado ONDO-PERP	0.4619	0.0100	get 0.0012% / 1h	25m 32s	$433K	$710K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BingX. 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 BingXbpFee NadobpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → +0.012%: $4.75
Slippage, 4 orders: −$114.14
Fee BingX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$126.39
Costs to cover: 1.311%
Break-even: never at this rate

Slippage from BingX: live order book, 63 min ago; Nado: live order book, 48 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 BingX live order book, 63 min ago	2.20 bp	62.9 bp −$63	98.0 bp −$980	596.4 bp −$59.6K	967.6 bp −$483.8K
Sell Nado live order book, 48 min ago	0.66 bp	9.7 bp −$10	20.3 bp −$203	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	−0.0865%	1h	0.4618	+0.040%	$2.8M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4617	+0.027%	$261K	$131K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4616	+0.002%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−1.040%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4615	−0.022%	$25K	$6K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4619	+0.060%	$433K	$710K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4620	+0.087%	$730K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4617	+0.016%	$69.2M	$222.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4616	0.000%	$74.6M	$119.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4618	+0.043%	$17.7M	$79.0M	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	0.4588	−0.611%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4614	−0.048%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4614	−0.043%	$12.1M	$16.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4617	+0.022%	$50.3M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4618	+0.043%	$14.3M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4618	+0.043%	$26.2M	$39.0M	50x	as long as short
BingX ONDO-USDClong	+0.0100%	4h	0.4616	long leg	—	$744K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4622	+0.132%	$232K	$999K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4616	−0.006%	$820K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4598	−0.381%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4598	−0.390%	$431K	$970K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4595	−0.455%	$171K	$349K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4621	+0.100%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4610	−0.130%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4619	+0.065%	$480	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4627	+0.238%	$136K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4619	+0.065%	$4.6M	$7.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4614	−0.048%	$7K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4614	−0.038%	$417K	$826K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4620	+0.087%	$40K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4598	−0.383%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4618	+0.052%	$380	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4631	+0.325%	$300K	$827K	50x	as long as short
Hyperliquid ONDO	+0.0319%	1h	0.4622	+0.141%	$41.1M	$25.6M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4596	−0.433%	$3.3M	$3.0M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0400%	1h	0.4619	+0.065%	$34K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0188%	1h	0.4616	+0.009%	$551K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4625	+0.184%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1145%	1h	0.4619	+0.060%	$2K	—	20x	as long as short