Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Nado−0.103%7-day average 0.000% · 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−$44as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on Nado Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.025%−$2 on $10k

Price spread, last 4 days (all we have)−0.276%−$28 · spread now −0.103%, 7d avg 0.000%

Together, before fees−0.301%+ Points / potential airdropNado: Active · farm board−$30 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: Bitget is 0.103% cheaper against Nado than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4376	0.0100	pay 0.0012% / 1h	58m 58s	$343K	$873K	10x
Short	Bitget ONDOUSDT	0.4372	0.0100	get 0.0050% / 4h	2h 58m	$25.4M	$35.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → 0.000%: −$10.31
Slippage, 4 orders: −$15.06
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44.37
Costs to cover: 0.341%
Break-even: 4558805412159066.0 days

Slippage from Nado: live order book, 34 min ago; Bitget: live order book, 5 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, 34 min ago	0.58 bp	7.0 bp −$7	20.2 bp −$202	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.14 bp	10.1 bp −$10	19.7 bp −$197	62.4 bp −$6,245	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
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4370	−0.149%	$24K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4379	+0.052%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0019%	1h	0.4369	−0.162%	$2.5M	$7.4M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.376%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4376	−0.021%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4376	long leg	$343K	$873K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4373	−0.074%	$763K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4373	−0.080%	$63.8M	$229.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4370	−0.149%	$68.8M	$120.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4372	−0.103%	$17.4M	$70.4M	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	0.4381	+0.101%	$72K	$77K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4370	−0.156%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4371	−0.126%	$13.6M	$14.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4369	−0.171%	$44.3M	$40.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4373	−0.080%	$13.1M	$10.2M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4372	−0.103%	$25.4M	$35.6M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4371	−0.126%	—	$780K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4373	−0.082%	$185K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4372	−0.110%	$776K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4377	+0.016%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4378	+0.034%	$403K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4380	+0.080%	$136K	$327K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4376	−0.005%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4369	−0.171%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4368	−0.194%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4371	−0.126%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4379	+0.057%	$132K	$363K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4371	−0.126%	$4.3M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4375	−0.028%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4370	−0.159%	$365K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4371	−0.126%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0155%	1h	0.4375	−0.027%	$36.8M	$27.9M	10x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4375	−0.032%	$360	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4383	+0.149%	$216K	$709K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4381	+0.094%	$35K	$214K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4378	+0.034%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0584% / S −0.0208%	1h	0.4376	−0.008%	$506K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4371	−0.134%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2933%	1h	0.4373	−0.076%	$250K	$159K	5x	as long as short