Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against Phemex0.000%7-day average −0.019% · 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−$42as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.007%+$1 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now 0.000%, 7d avg −0.019%

Together, before fees+0.098%+ Points / potential airdropNado: Active · farm board+$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex ONDOUSDT	0.4369	0.0100	pay 0.0050% / 4h	38m 49s	$4.2M	$7.8M	50x
Short	Nado ONDO-PERP	0.4369	0.0100	get 0.0012% / 1h	38m 49s	$369K	$843K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phemex. 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 PhemexbpFee NadobpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.019%: $1.93
Slippage, 4 orders: −$25.33
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$42.4
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Nado: live order book, 19 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 Phemex live order book, 5 min ago	3.42 bp	16.5 bp −$17	24.2 bp −$242	doesn't fit	doesn't fit
Sell Nado live order book, 19 min ago	1.38 bp	5.8 bp −$6	24.5 bp −$245	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4369	−0.002%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4364	−0.111%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.555%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4371	+0.039%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4365	−0.092%	$24K	$6K	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4369	0.000%	$369K	$843K	10x
Hyperliquid ONDO	+0.0100%	1h	0.4371	+0.039%	$37.5M	$24.5M	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4370	+0.019%	$63.0M	$229.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4367	−0.046%	$69.0M	$124.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4370	+0.023%	$17.0M	$72.7M	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	0.4384	+0.350%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4368	−0.028%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4367	−0.046%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4367	−0.046%	$45.6M	$41.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4369	0.000%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4370	+0.023%	$24.9M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4366	−0.069%	—	$765K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4368	−0.027%	$187K	$981K	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4369	−0.007%	$708K	$1.7M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4378	+0.199%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	+0.150%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4372	+0.069%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4372	+0.071%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4374	+0.114%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4367	−0.046%	$454	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4378	+0.206%	$127K	$477K	50x	as long as short
Phemex ONDOUSDTlong	+0.0100%	4h	0.4369	long leg	$4.2M	$7.8M	50x
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4368	−0.013%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4368	−0.030%	$396K	$794K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4368	−0.023%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0215%	4h	0.4370	+0.023%	$742K	$2.4M	20x	as long as short
dYdX ONDO-USD	+0.0217%	1h	0.4373	+0.092%	$247K	$129K	5x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4370	+0.018%	$360	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.572%	$276K	$718K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4366	−0.069%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4374	+0.103%	$35K	$223K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0437%	1h	0.4367	−0.046%	$23K	$346K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4367	−0.044%	$519K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4372	+0.079%	$2K	—	20x	as long as short