Funding arb · Price arb /

ONDO

all ONDO markets

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 edgeX−1.482%62s7-day average −0.002% · 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—prices read too far apart to compare

costs, in and out, $10k−$310.308% of the position

Long on edgeX 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)+1.576%+$158 · spread now −1.482%, 7d avg −0.002%

Together, before fees+1.601%+ Points / potential airdropedgeX: Active · Nado: Active · farm board+$160 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 1.480% cheaper against edgeX than usual: you would sell low and buy high, −$148 on $10k if it goes back to its 7-day average of −0.002%. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX ONDOUSDC	0.4596	0.0100	pay 0.0050% / 4h	3h 02m	$5K	$319K	20x
Short	Nado ONDO-PERP	0.4528	0.0100	get 0.0012% / 1h	2m 02s	$425K	$718K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now −1.482%Rate

Funding earned: $0
Price spread: −1.482% → −0.002%: −$147.97
Slippage, 4 orders: −$14.81
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$178.78
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from edgeX: live order book, 6 min ago; Nado: live order book, 6 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 edgeX live order book, 6 min ago	4.35 bp	8.9 bp −$9	15.1 bp −$151	doesn't fit	doesn't fit
Sell Nado live order book, 6 min ago	1.31 bp	4.9 bp −$5	21.1 bp −$211	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	−0.0883%	1h	0.4524	−1.575%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4534	−1.346%	$257K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4526	−1.525%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4528	−1.483%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.612%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4526	−1.525%	$25K	$6K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4528	−1.482%	$425K	$718K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4524	−1.566%	$712K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4518	−1.706%	$67.2M	$222.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4517	−1.721%	$72.5M	$119.6M	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	0.4517	−1.721%	$17.3M	$76.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−1.138%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4525	−1.541%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4521	−1.634%	$11.8M	$16.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4515	−1.765%	$47.5M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4518	−1.699%	$14.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4517	−1.721%	$25.6M	$38.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4521	−1.634%	—	$22.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4520	−1.654%	$227K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	−0.445%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDClong	+0.0100%	4h	0.4596	long leg	$5K	$319K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4579	−0.372%	$423K	$955K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4575	−0.459%	$171K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4529	−1.451%	$77K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	−1.591%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4522	−1.612%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4532	−1.395%	$133K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4526	−1.525%	$4.4M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4529	−1.467%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4516	−1.749%	$410K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4527	−1.493%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	−0.229%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4529	−1.467%	$373	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4530	−1.438%	$296K	$805K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4540	−1.221%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0371%	1h	0.4525	−1.538%	$40.2M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4529	−1.456%	$540K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4532	−1.384%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4528	−1.476%	$2K	—	20x	as long as short