Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: Aster against Nado+0.007%7-day average +0.053% · 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−$40as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 3 days (all we have)−0.137%−$14 · spread now +0.007%, 7d avg +0.053%

Together, before fees−0.159%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$16 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: Aster is 0.047% cheaper against Nado than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4507	0.0100	pay 0.0012% / 1h	7m 22s	$423K	$681K	10x
Short	Aster ONDOUSDT	0.4508	0.0100	get 0.0050% / 4h	2h 07m	$758K	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.053%: −$4.66
Slippage, 4 orders: −$20.73
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$40.39
Costs to cover: 0.357%
Break-even: 4149502883311268.5 days

Slippage from Nado: live order book, 16 min ago; Aster: live order book, 1 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 Nado live order book, 16 min ago	0.66 bp	8.2 bp −$8	18.3 bp −$183	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	3.32 bp	9.9 bp −$10	34.3 bp −$343	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	−0.1130%	1h	0.4501	−0.143%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4503	−0.100%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4502	−0.112%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4517	+0.215%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.322%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4503	−0.100%	$25K	$8K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4507	long leg	$423K	$681K	10x
Aster ONDOUSDTshort	+0.0100%	4h	0.4508	+0.007%	$758K	$2.0M	20x
Binance ONDOUSDT	+0.0100%	4h	0.4504	−0.075%	$66.3M	$220.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4503	−0.100%	$72.9M	$118.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4504	−0.078%	$17.6M	$79.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4520	+0.275%	$71K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4505	−0.050%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4503	−0.100%	$11.7M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4504	−0.078%	$47.2M	$45.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4503	−0.100%	$13.4M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4504	−0.078%	$25.5M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4504	−0.078%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4513	+0.131%	$193K	$972K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4506	−0.025%	$790K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4516	+0.187%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4514	+0.151%	$426K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4518	+0.233%	$159K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4504	−0.078%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4503	−0.100%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4503	−0.100%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4516	+0.189%	$129K	$519K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4504	−0.078%	$4.7M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4505	−0.052%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4503	−0.102%	$401K	$948K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4506	−0.042%	$35K	—	3x	as long as short
Hyperliquid ONDO	+0.0283%	1h	0.4508	+0.016%	$40.2M	$27.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4506	−0.033%	$301K	$838K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4512	+0.100%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4509	+0.027%	$371	$2K	10x	as long as short
Lighter ONDO	+0.0536%	1h	0.4516	+0.189%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0191%	1h	0.4502	−0.117%	$542K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4504	−0.084%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9271%	1h	0.4508	+0.001%	$255K	$129K	5x	as long as short