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 −0.012%

Price spread now: Gate against Nado−0.039%7-day average −0.032% · 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−$52as in the Price arb table

costs, in and out, $10k−$510.515% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 3 days (all we have)−0.212%−$21 · spread now −0.039%, 7d avg −0.032%

Together, before fees−0.240%+ Points / potential airdropNado: Active · farm board−$24 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4504	0.0100	pay 0.0012% / 1h	3m 02s	$422K	$681K	10x
Short	Gate ONDO_USDT	0.4502	0.0100	get 0.0050% / 4h	2h 03m	$11.7M	$18.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.032%: −$0.72
Slippage, 4 orders: −$29.49
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.2
Costs to cover: 0.515%
Break-even: 1758451335383495.3 days

Slippage from Nado: live order book, 20 min ago; Gate: 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, 20 min ago	0.66 bp	8.2 bp −$8	18.3 bp −$183	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	2.21 bp	22.1 bp −$22	43.0 bp −$430	51.6 bp −$5,162	80.3 bp −$40.1K

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	−0.065%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4505	+0.028%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4503	−0.006%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4501	−0.072%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4503	−0.017%	$1K	$181K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4503	−0.017%	$25K	$8K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4504	long leg	$422K	$681K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4505	+0.035%	$757K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4506	+0.050%	$66.4M	$220.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4504	+0.006%	$72.9M	$118.2M	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	0.4503	−0.017%	$17.6M	$79.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4498	−0.119%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4505	+0.022%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4502	−0.039%	$11.7M	$18.8M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4505	+0.028%	$47.1M	$45.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4503	−0.017%	$13.4M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4503	−0.017%	$25.4M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4504	+0.006%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4506	+0.061%	$194K	$973K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4496	−0.165%	$789K	$2.0M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4499	−0.112%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4497	−0.149%	$425K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4497	−0.150%	$159K	$333K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4506	+0.043%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4505	+0.028%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4504	+0.006%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4509	+0.117%	$129K	$519K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4502	−0.039%	$4.7M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4504	−0.005%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4503	−0.007%	$401K	$917K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4506	+0.039%	$44K	$8K	3x	as long as short
Hyperliquid ONDO	+0.0286%	1h	0.4509	+0.108%	$40.3M	$27.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4508	+0.094%	$298K	$841K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4505	+0.028%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4509	+0.108%	$371	$2K	10x	as long as short
Lighter ONDO	+0.0560%	1h	0.4511	+0.170%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0191%	1h	0.4503	−0.008%	$542K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4505	+0.017%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9125%	1h	0.4503	−0.022%	$255K	$129K	5x	as long as short