Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.007%

Price spread now: Nado against OKX−0.033%49s7-day average +0.023% · 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−$350.347% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 3 days (all we have)+0.171%+$17 · spread now −0.033%, 7d avg +0.023%

Together, before fees+0.199%+ Points / potential airdropNado: Active · farm board+$20 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 0.056% cheaper against OKX than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.023%. 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	OKX ONDO-USDT-SWAP	0.4554	0.0100	pay 0.0050% / 4h	38m 46s	$17.7M	$81.1M	50x
Short	Nado ONDO-PERP	0.4552	0.0100	get 0.0012% / 1h	38m 46s	$437K	$710K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → +0.023%: −$5.56
Slippage, 4 orders: −$17.65
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$40.21
Costs to cover: 0.347%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Nado: live order book, 39 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 OKX live order book, 5 min ago	1.10 bp	8.8 bp −$9	23.7 bp −$237	doesn't fit	doesn't fit
Sell Nado live order book, 39 min ago	1.95 bp	7.5 bp −$7	23.4 bp −$234	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	−0.0802%	1h	0.4549	−0.099%	$2.8M	$8.1M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.307%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4549	−0.105%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4549	−0.110%	$25K	$8K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4552	−0.033%	$437K	$710K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4555	+0.012%	$723K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4556	+0.037%	$68.1M	$228.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4554	0.000%	$73.8M	$123.2M	50x	as long as short
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4554	long leg	$17.7M	$81.1M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−0.217%	$74K	$89K	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	0.4554	−0.006%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4549	−0.110%	$12.0M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4555	+0.022%	$49.3M	$43.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4556	+0.044%	$14.1M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4555	+0.022%	$25.7M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4554	0.000%	—	$739K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4559	+0.108%	$780K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4555	+0.022%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4556	+0.054%	$420K	$960K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4560	+0.132%	$173K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4553	−0.031%	$68K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4552	−0.044%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4550	−0.088%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4563	+0.198%	$133K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4549	−0.110%	$4.6M	$6.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4554	0.000%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4550	−0.088%	$407K	$843K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4552	−0.045%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0125%	1h	0.4551	−0.061%	$229K	$1.0M	15x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4551	−0.066%	$36K	$436K	25x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4565	+0.231%	$38K	$257K	10x	as long as short
Hyperliquid ONDO	+0.0291%	1h	0.4561	+0.147%	$40.4M	$26.5M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4550	−0.088%	$298K	$850K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4548	−0.132%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4553	−0.026%	$375	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0188%	1h	0.4549	−0.115%	$543K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4564	+0.213%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1143%	1h	0.4549	−0.117%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5139%	1h	0.4554	+0.001%	$258K	$131K	5x	as long as short