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 Bitget+0.075%52s7-day average 0.000% · 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—prices read too far apart to compare

costs, in and out, $10k−$400.396% of the position

Long on Bitget Short on Nado

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)+0.025%+$2 · spread now +0.075%, 7d avg 0.000%

Together, before fees+0.052%+ Points / potential airdropNado: Active · farm board+$5 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 0.076% dearer against Bitget than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 52 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	Bitget ONDOUSDT	0.4322	0.0100	pay 0.0050% / 4h	1h 04m	$24.6M	$36.8M	50x
Short	Nado ONDO-PERP	0.4325	0.0100	get 0.0012% / 1h	4m 33s	$347K	$887K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. 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 BitgetbpFee NadobpOrdersPrice spread, now +0.075%Rate

Funding earned: $0
Price spread: +0.075% → 0.000%: $7.56
Slippage, 4 orders: −$20.6
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$32.04
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 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 Bitget live order book, 4 min ago	2.31 bp	12.2 bp −$12	17.8 bp −$178	70.8 bp −$7,081	doesn't fit
Sell Nado live order book, 39 min ago	1.96 bp	8.4 bp −$8	24.1 bp −$241	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	0.4324	+0.041%	$2.5M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4326	+0.087%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.692%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4328	+0.146%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4325	+0.075%	$347K	$887K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4326	+0.093%	$779K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4324	+0.046%	$62.5M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4322	0.000%	$67.8M	$122.3M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4324	+0.046%	$17.2M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4327	+0.123%	$71K	$81K	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	0.4322	−0.005%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4323	+0.023%	$12.6M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4323	+0.023%	$43.3M	$43.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4324	+0.046%	$11.9M	$10.4M	50x	as long as short
Bitget ONDOUSDTlong	+0.0100%	4h	0.4322	long leg	$24.6M	$36.8M	50x
BingX ONDO-USDT	+0.0100%	4h	0.4323	+0.023%	—	$23.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4325	+0.079%	$177K	$995K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4331	+0.202%	$735K	$1.8M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4328	+0.142%	$5K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4324	+0.041%	$401K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4328	+0.139%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4327	+0.120%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4325	+0.069%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4325	+0.069%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4326	+0.093%	$450	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4335	+0.301%	$128K	$394K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4328	+0.139%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4322	+0.003%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4321	−0.029%	$358K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4329	+0.150%	$38K	$13K	3x	as long as short
dYdX ONDO-USD	+0.0160%	1h	0.4331	+0.212%	$243K	$153K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0212%	1h	0.4327	+0.116%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0240%	1h	0.4323	+0.023%	$356	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0264%	1h	0.4342	+0.463%	$215K	$727K	50x	as long as short
Hyperliquid ONDO	+0.0270%	1h	0.4328	+0.143%	$36.4M	$27.1M	10x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4337	+0.345%	$35K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4329	+0.162%	$3.2M	$3.2M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4325	+0.071%	$495K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4327	+0.115%	$2K	—	20x	as long as short