The moduli in a 4D N = 1 heterotic compactification on an elliptic CY, as well as in the dual F-theoretic compactification, break into “base” parameters which are even (under the natural involution of the elliptic curves), and “fiber” or twisting parameters; the latter include a continuous part which is odd, as well as a discrete part. We interpret all the heterotic moduli in terms of cohomology groups of the spectral covers, and identify them with the corresponding F-theoretic moduli in a certain stable degeneration. The argument is based on the comparison of three geometric objects: the spectral and cameral covers and the ADE del Pezzo fibrations. For the continuous part of the twisting moduli, this amounts to an isomorphism between certain abelian varieties: the connected component of the heterotic Prym variety (a modified Jacobian) and the F-theoretic intermediate Jacobian. The comparison of the discrete part generalizes the matching of heterotic 5-brane/F-theoretic 3-brane impurities.