Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Gate against Nado+0.096%7-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−$35as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.791%−$79 · spread now +0.096%, 7d avg −0.034%

Together, before fees−0.820%+ Points / potential airdropNado: Active · farm board−$82 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: Gate is 0.131% dearer against Nado than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4405	0.0100	pay 0.0012% / 1h	53m 23s	$376K	$834K	10x
Short	Gate ONDO_USDT	0.4409	0.0100	get 0.0050% / 4h	1h 53m	$11.6M	$15.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → −0.034%: $13.09
Slippage, 4 orders: −$25.69
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$34.6
Costs to cover: 0.477%
Break-even: 1165384514562035.8 days

Slippage from Nado: live order book, 10 min ago; Gate: live order book, 5 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, 10 min ago	0.45 bp	5.9 bp −$6	18.1 bp −$181	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.14 bp	17.9 bp −$18	32.8 bp −$328	46.8 bp −$4,682	76.2 bp −$38.1K

ONDO on 38 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
ApeX Omni ONDOUSDT	−0.0069%	1h	0.4382	−0.516%	$135K	$353K	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4399	−0.125%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4409	+0.096%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.706%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4399	−0.127%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4411	+0.142%	$24K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4405	long leg	$376K	$834K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4409	+0.094%	$671K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4412	+0.165%	$64.0M	$225.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4411	+0.142%	$69.9M	$121.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4413	+0.187%	$17.0M	$72.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4391	−0.308%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4405	+0.013%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4409	+0.096%	$11.6M	$15.9M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4407	+0.051%	$46.7M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4406	+0.028%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4413	+0.187%	$25.1M	$39.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4412	+0.165%	—	$21.9M	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4418	+0.296%	$712K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4400	−0.109%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	−0.340%	$405K	$978K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4407	+0.060%	$79K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4398	−0.153%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4413	+0.187%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4415	+0.233%	$130K	$481K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4406	+0.026%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4406	+0.021%	$398K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4416	+0.266%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0153%	1h	0.4409	+0.106%	$38.6M	$24.0M	10x	as long as short
Phemex ONDOUSDT	+0.0177%	4h	0.4397	−0.176%	$4.2M	$7.5M	50x	as long as short
Backpack ONDO_USDC_PERP	+0.0199%	1h	0.4398	−0.144%	$191K	$982K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4396	−0.196%	$35K	$225K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.392%	$284K	$706K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4410	+0.112%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4402	−0.062%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4409	+0.096%	$486K	—	100x	as long as short
Lighter ONDO	+0.0648%	1h	0.4408	+0.069%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4406	+0.038%	$2K	—	20x	as long as short