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 −0.006%

Price spread now: Nado against Aster−0.075%7-day average −0.050% · 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−$33as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Aster Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 4 days (all we have)+0.175%+$18 · spread now −0.075%, 7d avg −0.050%

Together, before fees+0.190%+ Points / potential airdropAster: Stage 5 · Nado: Active · farm board+$19 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 0.025% cheaper against Aster than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster ONDOUSDT	0.4334	0.0100	pay 0.0050% / 4h	1h 55m	$774K	$2.7M	20x
Short	Nado ONDO-PERP	0.4331	0.0100	get 0.0012% / 1h	55m 09s	$346K	$894K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Aster. 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 AsterbpFee NadobpOrdersPrice spread, now −0.075%Rate

Funding earned: $0
Price spread: −0.075% → −0.050%: −$2.5
Slippage, 4 orders: −$15.91
Fee Aster: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$33.42
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Nado: live order book, 53 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 Aster live order book, 3 min ago	1.15 bp	7.3 bp −$7	47.5 bp −$475	doesn't fit	doesn't fit
Sell Nado live order book, 53 min ago	0.46 bp	5.4 bp −$5	21.2 bp −$212	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	0.4331	−0.070%	$2.5M	$7.8M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4327	−0.158%	$243K	$137K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4328	−0.129%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.399%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4336	+0.039%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4331	−0.075%	$346K	$894K	10x
Aster ONDOUSDTlong	+0.0100%	4h	0.4334	long leg	$774K	$2.7M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4330	−0.089%	$62.9M	$238.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4330	−0.092%	$67.5M	$126.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4331	−0.069%	$17.2M	$73.7M	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	0.4361	+0.614%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4328	−0.129%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4330	−0.092%	$12.3M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4332	−0.046%	$42.6M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4329	−0.115%	$11.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4333	−0.023%	$24.9M	$39.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4331	−0.069%	—	$23.7M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4333	−0.025%	$179K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4329	−0.121%	$640K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4344	+0.233%	$4K	$314K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4339	+0.116%	$404K	$1.4M	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4333	−0.032%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4331	−0.069%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4330	−0.092%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4333	−0.023%	$450	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4338	+0.092%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4332	−0.046%	$4.2M	$8.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4329	−0.107%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4331	−0.060%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4334	−0.003%	$38K	$13K	3x	as long as short
ApeX Omni ONDOUSDT	+0.0190%	1h	0.4340	+0.138%	$133K	$356K	50x	as long as short
01 Exchange ONDOUSD	+0.0232%	1h	0.4331	−0.076%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4333	−0.023%	$215K	$725K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4346	+0.272%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4330	−0.092%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0443%	1h	0.4333	−0.023%	$18K	$362K	25x	as long as short
Hyperliquid ONDO	+0.0474%	1h	0.4335	+0.030%	$36.6M	$27.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0561% / S −0.0197%	1h	0.4329	−0.125%	$487K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1157%	1h	0.4332	−0.058%	$2K	—	20x	as long as short