Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Nado against Bybit+0.038%7-day average +0.037% · 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−$34as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.048%+$5 on $10k

Price spread, last 3 days (all we have)+0.168%+$17 · spread now +0.038%, 7d avg +0.037%

Together, before fees+0.216%+ Points / potential airdropNado: Active · farm board+$22 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit ONDOUSDT	0.4550	0.0100	pay 0.0050% / 4h	1h 44m	$73.8M	$117.9M	50x
Short	Nado ONDO-PERP	0.4552	0.0100	get 0.0012% / 1h	44m 55s	$427K	$680K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bybit. 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 BybitbpFee NadobpOrdersPrice spread, now +0.038%Rate

Funding earned: $0
Price spread: +0.038% → +0.037%: $0.18
Slippage, 4 orders: −$16.57
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$34.39
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Nado: live order book, 38 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 Bybit live order book, 4 min ago	1.11 bp	9.5 bp −$10	16.9 bp −$169	50.2 bp −$5,024	doesn't fit
Sell Nado live order book, 38 min ago	0.66 bp	7.4 bp −$7	23.3 bp −$233	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	−0.0353%	1h	0.4551	+0.030%	$2.8M	$8.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4550	+0.010%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4552	+0.044%	$25K	$8K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4552	+0.038%	$427K	$680K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4552	+0.044%	$763K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4550	0.000%	$67.0M	$219.7M	75x	as long as short
Bybit ONDOUSDTlong	+0.0100%	4h	0.4550	long leg	$73.8M	$117.9M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4551	+0.022%	$17.8M	$80.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4543	−0.143%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4550	+0.003%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4551	+0.022%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4551	+0.022%	$47.9M	$44.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4553	+0.066%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4552	+0.044%	$25.7M	$41.2M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4551	+0.022%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4554	+0.090%	$196K	$971K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4533	−0.372%	$797K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4533	−0.371%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4530	−0.437%	$419K	$941K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4553	+0.077%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4555	+0.110%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4555	+0.110%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4562	+0.264%	$131K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4549	−0.022%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4551	+0.019%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4553	+0.069%	$403K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4556	+0.140%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4521	−0.637%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−1.033%	$1K	$181K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4557	+0.154%	$301K	$854K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4551	+0.022%	$3.2M	$3.1M	75x	as long as short
ApeX Omni ONDOUSDT	+0.0343%	1h	0.4538	−0.264%	$160K	$333K	50x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4555	+0.112%	$375	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0409%	1h	0.4556	+0.132%	$19K	$364K	25x	as long as short
Hyperliquid ONDO	+0.0509%	1h	0.4556	+0.138%	$40.7M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0592% / S −0.0191%	1h	0.4552	+0.038%	$548K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4562	+0.273%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4554	+0.090%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1227%	1h	0.4545	−0.120%	$257K	$130K	5x	as long as short