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 Paradex−0.161%50s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Nado: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.161% cheaper against Paradex than usual: you would sell low and buy high, −$16 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	Paradex ONDO-USD-PERP	0.4330	0.0100	pay 0.0100% / 8h	1h 41m	$6K	—	10x
Short	Nado ONDO-PERP	0.4324	0.0100	get 0.0012% / 1h	41m 17s	$347K	$897K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Paradex. 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 ParadexbpFee NadobpOrdersPrice spread, now −0.161%Rate

Funding earned: −$0.02
Price spread: −0.161% → 0.000%: −$16.1
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$27.12
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Nado: live order book, 2 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Nado live order book, 2 min ago	1.96 bp	8.4 bp −$8	24.1 bp −$241	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.4324	−0.144%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4330	−0.010%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4326	−0.100%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.485%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4328	−0.055%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4324	−0.161%	$347K	$897K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4332	+0.034%	$775K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4329	−0.026%	$62.8M	$238.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4327	−0.080%	$67.4M	$125.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4326	−0.103%	$17.2M	$73.3M	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	−0.106%	$71K	$82K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4329	−0.037%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4327	−0.080%	$12.4M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4329	−0.034%	$42.7M	$42.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4329	−0.034%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4324	−0.149%	$24.7M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4328	−0.057%	—	$23.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4327	−0.073%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4324	−0.155%	$643K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4331	+0.009%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4330	−0.011%	$401K	$1.4M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4331	+0.012%	$133K	$340K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4330	−0.004%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4324	−0.149%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4329	−0.034%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4326	−0.103%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4340	+0.220%	$128K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4327	−0.080%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0100%	8h	0.4330	long leg	$6K	—	10x
Extended ONDO-USD	+0.0104%	1h	0.4324	−0.143%	$393K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4326	−0.092%	$38K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0168%	1h	0.4330	−0.006%	$356	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0213%	1h	0.4326	−0.103%	$18K	$362K	25x	as long as short
Hyperliquid ONDO	+0.0240%	1h	0.4330	−0.006%	$36.3M	$27.3M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4339	+0.197%	$214K	$728K	50x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4334	+0.084%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4327	−0.080%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4326	−0.107%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1158%	1h	0.4328	−0.063%	$2K	—	20x	as long as short