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 −0.008%

Price spread now: BingX against Nado−0.088%53s7-day average −0.009% · 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—prices read too far apart to compare

costs, in and out, $10k−$310.312% of the position

Long on Nado Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.025%−$2 on $10k

Price spread, last 3 days (all we have)−0.266%−$27 · spread now −0.088%, 7d avg −0.009%

Together, before fees−0.290%+ Points / potential airdropNado: Active · farm board−$29 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: BingX is 0.078% cheaper against Nado than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.009%. The two prices were read 53 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	Nado ONDO-PERP	0.4559	0.0100	pay 0.0012% / 1h	7m 37s	$431K	$705K	10x
Short	BingX ONDO-USDT	0.4555	0.0100	get 0.0050% / 4h	1h 07m	—	$22.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.088%Rate

Funding earned: $0
Price spread: −0.088% → −0.009%: −$7.84
Slippage, 4 orders: −$14.15
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$38.99
Costs to cover: 0.312%
Break-even: 1313455146810173.0 days

Slippage from Nado: live order book, 11 min ago; BingX: live order book, 11 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, 11 min ago	1.95 bp	7.6 bp −$8	24.5 bp −$245	doesn't fit	doesn't fit
Sell BingX live order book, 11 min ago	1.09 bp	10.0 bp −$10	13.2 bp −$132	32.0 bp −$3,201	278.7 bp −$139.4K

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	−0.0353%	1h	0.4557	−0.045%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4557	−0.041%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4557	−0.044%	$25K	$8K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4559	long leg	$431K	$705K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4559	−0.010%	$715K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4562	+0.064%	$67.7M	$226.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4562	+0.066%	$73.9M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4563	+0.088%	$17.7M	$81.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4551	−0.186%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4559	−0.003%	—	—	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_USDT	+0.0100%	4h	0.4554	−0.110%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4556	−0.066%	$48.9M	$44.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4556	−0.066%	$13.7M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4559	0.000%	$25.8M	$41.5M	50x	as long as short
BingX ONDO-USDTshort	+0.0100%	4h	0.4555	−0.088%	—	$22.2M	—
Variational Omni ONDO	+0.0100%	4h	0.4560	+0.019%	$786K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4563	+0.077%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	+0.287%	$422K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4571	+0.263%	$163K	$318K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4562	+0.059%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4559	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4558	−0.022%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4577	+0.395%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4557	−0.044%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4556	−0.073%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4556	−0.064%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4561	+0.050%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0142%	1h	0.4558	−0.031%	$230K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.588%	$38K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.197%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4558	−0.022%	$31K	$431K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.790%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4575	+0.351%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0373%	1h	0.4561	+0.055%	$40.5M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0392%	1h	0.4565	+0.127%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0586% / S −0.0187%	1h	0.4557	−0.041%	$543K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4566	+0.156%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4558	−0.025%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5549%	1h	0.4555	−0.080%	$258K	$129K	5x	as long as short