Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Aevo−0.057%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.057% cheaper against Aevo than usual: you would sell low and buy high, −$6 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo ONDO-PERP	0.4506	0.0104	pay 0.0013% / 1h	50m 11s	$35K	—	3x
Short	Variational Omni ONDO	0.4504	0.0100	get 0.0050% / 4h	2h 50m	$798K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 AevobpFee Variational OmnibpOrdersPrice spread, now −0.057%Rate

Funding earned: −$0.84
Price spread: −0.057% → 0.000%: −$5.68
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$22.52
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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 Aevo no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	5.53 bp	doesn't fit	14.4 bp −$144	doesn't fit	doesn't fit

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1129%	1h	0.4503	−0.072%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4505	−0.024%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4504	−0.048%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4501	−0.106%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−1.999%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4503	−0.068%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4507	+0.015%	$430K	$672K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4509	+0.074%	$40.6M	$27.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4507	+0.017%	$752K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4502	−0.096%	$66.3M	$220.2M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4501	−0.113%	$72.5M	$117.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4502	−0.091%	$17.6M	$79.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4500	−0.130%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4505	−0.026%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4502	−0.091%	$11.8M	$18.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4504	−0.046%	$47.5M	$45.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4503	−0.068%	$13.9M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4505	−0.024%	$25.4M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4501	−0.113%	—	$746K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4506	−0.006%	$195K	$975K	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4504	−0.057%	$798K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4513	+0.150%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4531	+0.542%	$420K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4517	+0.242%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4508	+0.040%	$88K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4505	−0.024%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4501	−0.113%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4512	+0.131%	$125K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4501	−0.113%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4504	−0.041%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4502	−0.098%	$402K	$987K	25x	as long as short
Aevo ONDO-PERPlong	+0.0104%	1h	0.4506	long leg	$35K	—	3x
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4520	+0.309%	$304K	$839K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4502	−0.091%	$3.2M	$3.1M	75x	as long as short
Lighter ONDO	+0.0352%	1h	0.4509	+0.067%	$1.4M	$2.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0560%	1h	0.4509	+0.069%	$371	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0616% / S −0.0203%	1h	0.4503	−0.074%	$560K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4505	−0.022%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0423%	1h	0.4507	+0.015%	$255K	$117K	5x	as long as short