Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Nado0.000%103s7-day average +0.034% · 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−$360.358% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.236%+$24 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now 0.000%, 7d avg +0.034%

Together, before fees+0.269%+ Points / potential airdropNado: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.034% cheaper against Nado than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.034%). If the spread goes back, that is −$3 on $10k: about 11 hours of funding at the current rate (+$7 a day). The two prices were read 103 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	0.4292	0.0100	pay 0.0012% / 1h	45m 22s	$329K	$815K	10x
Short	BloFin ONDO-USDT	0.4292	0.0340	get 0.0170% / 4h	45m 22s	$3.2M	$2.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: $50.4
Price spread: 0.000% → +0.034%: −$3.41
Slippage, 4 orders: −$16.79
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $11.2
Costs to cover: 0.358%
Break-even: 5.4 days

Slippage from Nado: live order book, 61 min ago; BloFin: live order book, 6 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, 61 min ago	0.81 bp	9.0 bp −$9	19.2 bp −$192	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	3.50 bp	9.5 bp −$10	13.9 bp −$139	32.2 bp −$3,217	94.9 bp −$47.4K

ONDO on 39 exchanges

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	−0.0259%	1h	0.4295	+0.076%	$2.5M	$6.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4295	+0.070%	$21K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4295	+0.060%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+6.431%	$888	$214K	5.5x	as long as short
Bybit ONDOUSDT	+0.0067%	4h	0.4293	+0.023%	$67.1M	$112.5M	50x	as long as short
ApeX Omni ONDOUSDT	+0.0070%	1h	0.4283	−0.210%	$85K	$350K	50x	as long as short
Lighter ONDO	+0.0096%	1h	0.4296	+0.096%	$1.0M	$2.1M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4293	+0.023%	$23K	$7K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4292	long leg	$329K	$815K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4298	+0.142%	$36.2M	$26.2M	10x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster ONDOUSDT	+0.0100%	4h	0.4296	+0.093%	$765K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4295	+0.064%	$61.8M	$211.3M	75x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4295	+0.070%	$17.2M	$65.2M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4290	−0.037%	$68K	$66K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4292	+0.004%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4294	+0.047%	$14.2M	$12.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4295	+0.070%	$43.8M	$39.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4294	+0.047%	$12.9M	$8.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4295	+0.070%	$24.9M	$30.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4293	+0.023%	—	$23.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4290	−0.040%	$176K	$993K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4282	−0.223%	$615K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4279	−0.306%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4289	−0.060%	$395K	$2.1M	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4297	+0.107%	$53K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4292	0.000%	—	$1.2M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4296	+0.093%	$447	$17K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4298	+0.140%	$105K	$439K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4289	−0.070%	$4.1M	$8.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4291	−0.031%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4294	+0.049%	$346K	$760K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4296	+0.105%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0136%	1h	0.4296	+0.086%	$354	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0162% / S +0.0062%	1h	0.4294	+0.049%	$272K	—	100x	as long as short
Phoenix ONDO	+0.0167%	1h	0.4296	+0.093%	$34K	$204K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0240%	1h	0.4305	+0.303%	$212K	$548K	50x	as long as short
BloFin ONDO-USDTshort	+0.0340%	4h	0.4292	0.000%	$3.2M	$2.9M	75x
Reya ONDORUSDPERP	+0.1168%	1h	0.4294	+0.055%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3872%	1h	0.4290	−0.042%	$246K	$159K	5x	as long as short