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: SunX against Nado−0.081%7-day average +0.005% · 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−$161as in the Price arb table

costs, in and out, $10k−$1531.528% of the position

Long on Nado Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.027%−$3 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.081%, 7d avg +0.005%

Together, before fees+0.022%+ Points / potential airdropNado: Active · farm board+$2 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: SunX is 0.086% cheaper against Nado than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4333	0.0100	pay 0.0012% / 1h	43m 58s	$348K	$897K	10x
Short	SunX ONDO-USDT	0.4329	0.0100	get 0.0050% / 4h	1h 43m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → +0.005%: −$8.6
Slippage, 4 orders: −$137.85
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$161.44
Costs to cover: 1.528%
Break-even: 5438224693711578.0 days

Slippage from Nado: live order book, 64 min ago; SunX: live order book, 11 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, 64 min ago	0.46 bp	7.7 bp −$8	18.8 bp −$188	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	47.35 bp	70.3 bp −$70	doesn't fit	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	0.4328	−0.093%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4337	+0.107%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4332	−0.009%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.436%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4334	+0.030%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4333	long leg	$348K	$897K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4332	−0.012%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4328	−0.096%	$62.8M	$238.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4326	−0.150%	$67.4M	$126.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4328	−0.104%	$17.2M	$73.5M	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	0.4326	−0.152%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4335	+0.065%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4329	−0.081%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4327	−0.127%	$42.9M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4329	−0.081%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4327	−0.127%	$24.8M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4329	−0.081%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4329	−0.072%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.202%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4332	−0.011%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4332	−0.020%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4332	−0.012%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4335	+0.069%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4330	−0.058%	$23K	$6K	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4329	−0.081%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4330	−0.058%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.173%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4331	−0.035%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	+0.005%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4326	−0.160%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4332	−0.018%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0184%	1h	0.4337	+0.102%	$357	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0212%	1h	0.4331	−0.035%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4339	+0.150%	$214K	$728K	50x	as long as short
Hyperliquid ONDO	+0.0308%	1h	0.4332	−0.009%	$36.3M	$27.3M	10x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4331	−0.028%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4336	+0.081%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0562% / S −0.0197%	1h	0.4331	−0.033%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4331	−0.029%	$2K	—	20x	as long as short