The paper presents the design challenges and implementation issues of a real-time multiple-input single-output (MISO) ultra-wideband (UWB) radio testbed, which involves Xinlix Virtex-5 Field Programmable Gate Array (FPGA) for high speed signal processing. In addition, waveform design and optimization based on the testbed is practical studied. System performance is evaluated using measured channel data in indoor environment. The transmitted MISO signals are optimized in the passband with a bandwidth up to 500 MHz. Major contributions of our work include implementation of a real-time radio testbed for multiple-antenna wideband system and design of intrinsic waveform diversity based on the testbed.