Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.004%

Price spread now: SunX against Nado+0.265%48s7-day average +0.001% · 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−$1471.470% of the position

Long on Nado Short on SunX

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)−0.296%−$30 · spread now +0.265%, 7d avg +0.001%

Together, before fees−0.321%+ Points / potential airdropNado: Active · farm board−$32 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: SunX is 0.264% dearer against Nado than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of +0.001%. The two prices were read 48 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	0.4528	0.0100	pay 0.0012% / 1h	2m 26s	$425K	$718K	10x
Short	SunX ONDO-USDT	0.4540	0.0100	get 0.0050% / 4h	3h 02m	—	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.265%Rate

Funding earned: $0
Price spread: +0.265% → +0.001%: $26.36
Slippage, 4 orders: −$132.02
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$120.66
Costs to cover: 1.470%
Break-even: 4064395421401022.5 days

Slippage from Nado: live order book, 6 min ago; SunX: live order book, 2 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, 6 min ago	1.31 bp	8.2 bp −$8	19.5 bp −$195	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	47.08 bp	67.3 bp −$67	doesn't fit	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	−0.0880%	1h	0.4539	+0.241%	$2.7M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4534	+0.138%	$257K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4540	+0.265%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4540	+0.265%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+0.883%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4540	+0.265%	$25K	$6K	10x	as long as short
Nado ONDO-PERPlong	+0.0100%	1h	0.4528	long leg	$425K	$718K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4535	+0.155%	$714K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4531	+0.072%	$67.9M	$222.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4529	+0.022%	$72.7M	$119.5M	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	0.4528	0.000%	$17.3M	$76.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	+0.349%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4525	−0.060%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4527	−0.022%	$11.9M	$16.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4531	+0.066%	$48.2M	$42.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4535	+0.155%	$14.0M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4529	+0.022%	$25.7M	$38.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4528	0.000%	—	$22.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4540	+0.256%	$228K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4576	+1.052%	$812K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4596	+1.504%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4579	+1.126%	$423K	$955K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4575	+1.038%	$171K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4529	+0.031%	$77K	$1.2M	10x	as long as short
SunX ONDO-USDTshort	+0.0100%	4h	0.4540	+0.265%	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4542	+0.309%	$472	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4550	+0.486%	$134K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4539	+0.243%	$4.4M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4529	+0.015%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4525	−0.056%	$410K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4543	+0.342%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	+1.272%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4529	+0.015%	$373	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4536	+0.177%	$297K	$805K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4540	+0.265%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0374%	1h	0.4534	+0.126%	$40.3M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0188%	1h	0.4540	+0.266%	$543K	—	100x	as long as short
Lighter ONDO	+0.0704%	1h	0.4543	+0.322%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4528	+0.006%	$2K	—	20x	as long as short