Funding arb · Price arb /

ONDO

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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: Bybit against Nado+0.253%49s7-day average −0.034% · 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—prices read too far apart to compare

costs, in and out, $10k−$340.338% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 4 days (all we have)−0.460%−$46 · spread now +0.253%, 7d avg −0.034%

Together, before fees−0.505%+ Points / potential airdropNado: Active · farm board−$51 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: Bybit is 0.287% dearer against Nado than usual: you sell high and buy low, +$29 on $10k if it goes back to its 7-day average of −0.034%. The two prices were read 49 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	Nado ONDO-PERP	0.4347	0.0100	pay 0.0012% / 1h	21m 43s	$359K	$841K	10x
Short	Bybit ONDOUSDT	0.4358	0.0100	get 0.0050% / 4h	3h 21m	$67.7M	$124.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.253%Rate

Funding earned: $0
Price spread: +0.253% → −0.034%: $28.73
Slippage, 4 orders: −$15.8
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$5.07
Costs to cover: 0.338%
Break-even: 260682590863480.6 days

Slippage from Nado: live order book, 32 min ago; Bybit: live order book, 2 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 Nado live order book, 32 min ago	1.02 bp	7.7 bp −$8	17.0 bp −$170	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.15 bp	8.8 bp −$9	15.8 bp −$158	56.1 bp −$5,610	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	−0.0161%	1h	0.4350	+0.072%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4352	+0.112%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.084%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4362	+0.336%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4352	+0.115%	$23K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4347	long leg	$359K	$841K	10x
Binance ONDOUSDT	+0.0100%	4h	0.4361	+0.323%	$63.0M	$231.0M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4358	+0.253%	$67.7M	$124.6M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4361	+0.322%	$17.0M	$72.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4363	+0.375%	$72K	$83K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4359	+0.276%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4357	+0.230%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4360	+0.299%	$43.2M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4357	+0.230%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4361	+0.322%	$25.0M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4359	+0.276%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4352	+0.122%	$183K	$980K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4364	+0.384%	$713K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4369	+0.503%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4364	+0.382%	$406K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4368	+0.483%	$135K	$353K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4351	+0.090%	$66K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4353	+0.138%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4353	+0.138%	$452	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4361	+0.322%	$129K	$423K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4354	+0.161%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4360	+0.290%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4359	+0.283%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4354	+0.161%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0155%	4h	0.4360	+0.304%	$787K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4345	−0.046%	$358	$2K	10x	as long as short
Hyperliquid ONDO	+0.0191%	1h	0.4360	+0.306%	$37.4M	$24.4M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4368	+0.483%	$248K	$725K	50x	as long as short
dYdX ONDO-USD	+0.0325%	1h	0.4359	+0.281%	$247K	$129K	5x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4368	+0.476%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4357	+0.230%	$3.1M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0439%	1h	0.4355	+0.184%	$18K	$362K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4351	+0.097%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4352	+0.115%	$2K	—	20x	as long as short