Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against SunX0.000%7-day average −0.006% · 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−$168as in the Price arb table

costs, in and out, $10k−$1681.682% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now 0.000%, 7d avg −0.006%

Together, before fees+0.068%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4315	0.0100	pay 0.0050% / 4h	15m 11s	—	$1.4M	20x
Short	Nado ONDO-PERP	0.4315	0.0100	get 0.0012% / 1h	15m 11s	$345K	$886K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against SunX. 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 SunXbpFee NadobpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.006%: $0.57
Slippage, 4 orders: −$153.24
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$167.68
Costs to cover: 1.682%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Nado: live order book, 23 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 SunX live order book, 9 min ago	47.65 bp	69.8 bp −$70	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 23 min ago	0.35 bp	9.0 bp −$9	19.3 bp −$193	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	−0.0176%	1h	0.4311	−0.092%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4311	−0.092%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.863%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4317	+0.046%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERPshort	+0.0100%	1h	0.4315	0.000%	$345K	$886K	10x
Aster ONDOUSDT	+0.0100%	4h	0.4316	+0.023%	$755K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4314	−0.032%	$62.8M	$234.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4313	−0.046%	$67.9M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4315	0.000%	$17.3M	$71.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4305	−0.236%	$71K	$80K	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	0.4313	−0.040%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4312	−0.070%	$12.9M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4313	−0.046%	$43.9M	$42.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4313	−0.046%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4313	−0.046%	$24.6M	$36.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4311	−0.093%	—	$778K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4314	−0.019%	$175K	$1.0M	15x	as long as short
Variational Omni ONDO	+0.0100%	4h	0.4314	−0.027%	$678K	$1.9M	—	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4315	+0.007%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4314	−0.023%	$400K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4310	−0.116%	$132K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4314	−0.035%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4312	−0.070%	$23K	$6K	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4315	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4314	−0.023%	$2K	$15K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4323	+0.185%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4314	−0.023%	$4.2M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4315	−0.005%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4312	−0.058%	$355K	$809K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4315	+0.001%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0214%	1h	0.4313	−0.046%	$18K	$351K	25x	as long as short
01 Exchange ONDOUSD	+0.0248%	1h	0.4319	+0.086%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4309	−0.139%	$213K	$730K	50x	as long as short
Phoenix ONDO	+0.0315%	1h	0.4317	+0.056%	$35K	$221K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4315	0.000%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0367%	1h	0.4317	+0.046%	$36.4M	$27.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4311	−0.092%	$493K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1161%	1h	0.4312	−0.073%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1695%	1h	0.4314	−0.025%	$242K	$156K	5x	as long as short