Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0173%/8h= −19.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against ApeX Omni−0.503%73s7-day average −0.044% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 3 days (all we have)+0.436%+$44 · spread now −0.503%, 7d avg −0.044%

Together, before fees+0.413%+ Points / potential airdropVariational Omni: Active · farm board+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Variational Omni is 0.459% cheaper against ApeX Omni than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of −0.044%). Swap the legs. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni ONDOUSDT	0.4556	0.0273	pay 0.0034% / 1h	42m 11s	$161K	$333K	50x
Short	Variational Omni ONDO	0.4533	0.0100	get 0.0050% / 4h	1h 42m	$797K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX Omni. 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.503%Rate

Funding earned: −$36.42
Price spread: −0.503% → −0.044%: −$45.89
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$92.31
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 40 min ago; Variational Omni: RFQ quote, 2 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 ApeX Omni live order book, 40 min ago	2.20 bp	10.5 bp −$11	27.7 bp −$277	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	4.40 bp	doesn't fit	13.2 bp −$132	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	−0.0354%	1h	0.4545	−0.247%	$2.8M	$8.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4546	−0.209%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4547	−0.198%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4550	−0.143%	$427K	$680K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4552	−0.088%	$751K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4549	−0.146%	$67.0M	$219.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4548	−0.176%	$73.8M	$117.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4546	−0.219%	$17.8M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4543	−0.274%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4549	−0.160%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4548	−0.176%	$11.9M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4548	−0.176%	$48.0M	$44.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4549	−0.154%	$13.5M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4549	−0.154%	$25.7M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4548	−0.176%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4550	−0.134%	$196K	$971K	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4533	−0.503%	$797K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4551	−0.119%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4552	−0.086%	$421K	$941K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4549	−0.151%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4551	−0.110%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4549	−0.154%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4558	+0.044%	$131K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4547	−0.198%	$4.8M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4549	−0.162%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4548	−0.166%	$403K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4552	−0.088%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4552	−0.079%	$30K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4503	−1.163%	$1K	$181K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4550	−0.132%	$19K	$364K	25x	as long as short
ApeX Omni ONDOUSDTlong	+0.0273%	1h	0.4556	long leg	$161K	$333K	50x
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4557	+0.022%	$301K	$854K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4552	−0.088%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4554	−0.040%	$375	$2K	10x	as long as short
Hyperliquid ONDO	+0.0495%	1h	0.4554	−0.048%	$40.7M	$27.3M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0591% / S −0.0191%	1h	0.4547	−0.202%	$547K	—	100x	as long as short
Lighter ONDO	+0.0608%	1h	0.4557	+0.020%	$1.4M	$2.1M	10x	as long as short
dYdX ONDO-USD	+0.1048%	1h	0.4548	−0.166%	$257K	$130K	5x	as long as short
Reya ONDORUSDPERP	+0.1140%	1h	0.4548	−0.168%	$2K	—	20x	as long as short