Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Nado+0.002%7-day average +0.066% · 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−$39as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on Nado Short on Polymarket Perps

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 4 days (all we have)+0.091%+$9 · spread now +0.002%, 7d avg +0.066%

Together, before fees+0.066%+ Points / potential airdropNado: Active · farm board+$7 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: Polymarket Perps is 0.063% cheaper against Nado than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado ONDO-PERP	0.4350	0.0100	pay 0.0012% / 1h	19m 31s	$359K	$840K	10x
Short	Polymarket Perps ONDO-USD	0.4351	0.0100	get 0.0013% / 1h	19m 31s	$66K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.002%Rate

Funding earned: $0
Price spread: +0.002% → +0.066%: −$6.33
Slippage, 4 orders: −$17.81
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$39.13
Costs to cover: 0.328%
Break-even: 4020582072420742.0 days

Slippage from Nado: live order book, 34 min ago; Polymarket Perps: live order book, 4 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	1.02 bp	7.7 bp −$8	17.0 bp −$170	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	2.87 bp	7.3 bp −$7	7.8 bp −$78	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	−0.0161%	1h	0.4358	+0.182%	$2.6M	$7.7M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4358	+0.169%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.999%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4358	+0.163%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4359	+0.195%	$24K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4350	long leg	$359K	$840K	10x
Binance ONDOUSDT	+0.0100%	4h	0.4351	+0.011%	$62.8M	$230.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4349	−0.034%	$67.6M	$124.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4352	+0.034%	$17.0M	$72.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4363	+0.294%	$72K	$83K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4349	−0.031%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4348	−0.057%	$11.7M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4347	−0.080%	$43.1M	$42.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4354	+0.080%	$12.6M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4350	−0.011%	$24.9M	$39.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4348	−0.057%	—	$21.9M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4357	+0.145%	$183K	$979K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4352	+0.028%	$702K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4357	+0.143%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4353	+0.057%	$403K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4359	+0.195%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USDshort	+0.0100%	1h	0.4351	+0.002%	$66K	$1.4M	10x
SunX ONDO-USDT	+0.0100%	4h	0.4361	+0.241%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4360	+0.218%	$453	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4368	+0.402%	$129K	$423K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4360	+0.218%	$4.2M	$8.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4348	−0.065%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4348	−0.062%	$393K	$796K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4362	+0.259%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0152%	4h	0.4352	+0.032%	$787K	$2.6M	20x	as long as short
01 Exchange ONDOUSD	+0.0160%	1h	0.4351	+0.016%	$358	$2K	10x	as long as short
Hyperliquid ONDO	+0.0187%	1h	0.4356	+0.125%	$37.4M	$24.4M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4362	+0.264%	$246K	$726K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4368	+0.395%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4353	+0.057%	$3.1M	$3.1M	75x	as long as short
dYdX ONDO-USD	+0.0489%	1h	0.4352	+0.024%	$246K	$129K	5x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0555% / S −0.0193%	1h	0.4358	+0.170%	$485K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0668%	1h	0.4362	+0.264%	$18K	$362K	25x	as long as short
Reya ONDORUSDPERP	+0.1154%	1h	0.4350	−0.006%	$2K	—	20x	as long as short