Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: Nado against Gate+0.120%7-day average +0.033% · 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−$42as in the Price arb table

costs, in and out, $10k−$510.506% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.030%+$3 on $10k

Price spread, last 3 days (all we have)+0.080%+$8 · spread now +0.120%, 7d avg +0.033%

Together, before fees+0.110%+ Points / potential airdropNado: Active · farm board+$11 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 0.087% dearer against Gate than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4570	0.0100	pay 0.0050% / 4h	1h 14m	$12.0M	$18.7M	50x
Short	Nado ONDO-PERP	0.4576	0.0100	get 0.0012% / 1h	14m 12s	$433K	$706K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Gate. 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 GatebpFee NadobpOrdersPrice spread, now +0.120%Rate

Funding earned: $0
Price spread: +0.120% → +0.033%: $8.72
Slippage, 4 orders: −$28.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$41.84
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Nado: live order book, 4 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 Gate live order book, 4 min ago	1.09 bp	15.8 bp −$16	37.9 bp −$379	49.7 bp −$4,967	78.8 bp −$39.4K
Sell Nado live order book, 4 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	−0.0352%	1h	0.4572	+0.054%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4573	+0.068%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4575	+0.109%	$25K	$8K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4576	+0.120%	$433K	$706K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4576	+0.130%	$734K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4574	+0.083%	$67.6M	$227.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4573	+0.066%	$74.1M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4572	+0.044%	$17.9M	$81.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	+0.396%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4573	+0.075%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDTlong	+0.0100%	4h	0.4570	long leg	$12.0M	$18.7M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4574	+0.088%	$49.3M	$44.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4573	+0.066%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4573	+0.066%	$26.0M	$41.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4573	+0.066%	—	$742K	—	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4598	+0.611%	$787K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4603	+0.732%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4600	+0.652%	$424K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4607	+0.810%	$165K	$317K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4575	+0.107%	$68K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4575	+0.109%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4573	+0.066%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4579	+0.197%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4573	+0.066%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4574	+0.084%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4572	+0.034%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4578	+0.186%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4601	+0.672%	$37K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.044%	$888	$216K	5.5x	as long as short
Backpack ONDO_USDC_PERP	+0.0152%	1h	0.4575	+0.101%	$231K	$1.0M	15x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.547%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4583	+0.284%	$3.2M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0406%	1h	0.4578	+0.175%	$31K	$432K	25x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4577	+0.155%	$377	$2K	10x	as long as short
Hyperliquid ONDO	+0.0422%	1h	0.4574	+0.088%	$40.7M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0187%	1h	0.4573	+0.058%	$545K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4583	+0.282%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4575	+0.117%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4745%	1h	0.4575	+0.118%	$259K	$129K	5x	as long as short