Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against HTX−0.184%7-day average −0.157% · 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−$83as in the Price arb table

costs, in and out, $10k−$800.801% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.026%+$3 on $10k

Price spread, last 4 days (all we have)+0.239%+$24 · spread now −0.184%, 7d avg −0.157%

Together, before fees+0.265%+ Points / potential airdropNado: Active · farm board+$27 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 0.028% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.157%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX ONDO-USDT	0.4338	0.0100	pay 0.0050% / 4h	1h 54m	$128K	$429K	50x
Short	Nado ONDO-PERP	0.4330	0.0100	get 0.0012% / 1h	54m 35s	$346K	$894K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against HTX. 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 HTXbpFee NadobpOrdersPrice spread, now −0.184%Rate

Funding earned: $0
Price spread: −0.184% → −0.157%: −$2.76
Slippage, 4 orders: −$61.11
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$82.87
Costs to cover: 0.801%
Break-even: never at this rate

Slippage from HTX: live order book, 54 min ago; Nado: live order book, 54 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 HTX live order book, 54 min ago	10.35 bp	50.7 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 54 min ago	0.46 bp	5.4 bp −$5	21.2 bp −$212	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	−0.0146%	1h	0.4331	−0.163%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4331	−0.158%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4328	−0.221%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.302%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4333	−0.120%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4330	−0.184%	$346K	$894K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4331	−0.150%	$773K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4328	−0.227%	$62.9M	$238.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4326	−0.277%	$67.5M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4329	−0.207%	$17.2M	$73.6M	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	0.4361	+0.521%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4327	−0.245%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4328	−0.231%	$12.3M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4328	−0.231%	$42.5M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4328	−0.231%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4328	−0.231%	$24.8M	$39.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4329	−0.207%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4333	−0.118%	$179K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4329	−0.213%	$640K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4344	+0.141%	$4K	$314K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4339	+0.024%	$404K	$1.4M	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4329	−0.207%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4331	−0.161%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4330	−0.184%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4333	−0.115%	$450	$13K	10x	as long as short
HTX ONDO-USDTlong	+0.0100%	4h	0.4338	long leg	$128K	$429K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4332	−0.138%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4329	−0.217%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4328	−0.222%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4334	−0.096%	$38K	$13K	3x	as long as short
ApeX Omni ONDOUSDT	+0.0190%	1h	0.4340	+0.046%	$133K	$356K	50x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4329	−0.198%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4333	−0.115%	$215K	$725K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.180%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4330	−0.184%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0443%	1h	0.4333	−0.115%	$18K	$362K	25x	as long as short
Hyperliquid ONDO	+0.0467%	1h	0.4334	−0.104%	$36.6M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4329	−0.217%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4328	−0.236%	$2K	—	20x	as long as short