Funding arb · Price arb / Crypto

ONDO

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LONGArcus▾AZverse −0.0664%TxFlow −0.0231%KuCoin −0.0144%Bybit −0.0037%Polymarket Perps −0.0027%Bitget +0.0016%Hyperliquid +0.0026%OKX +0.0030%N1 +0.0032%Injective +0.0033%Paradex +0.0036%Orderly +0.0053%Phoenix +0.0063%Lighter +0.0096%Popdex +0.0096%Nado +0.0100%Aster +0.0100%Binance +0.0100%Ondo Perps +0.0100%Arcus +0.0100%Gate +0.0100%MEXC +0.0100%BingX +0.0100%Backpack +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%Bullet +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Phemex +0.0100%Aevo +0.0104%Kraken Futures +0.0116%Avantis +0.0205%Deribit +0.0276%RISEx +0.0327%BloFin +0.0340%gTrade (Gains Network) +0.0411%GMX +0.0466%Extended +0.0696%

⇄⇅

SHORTVariational Omni▾Extended +0.0696%BloFin +0.0340%RISEx +0.0327%Deribit +0.0276%gTrade (Gains Network) −0.0254%GMX −0.0172%Kraken Futures +0.0116%Aevo +0.0104%Aster +0.0100%Binance +0.0100%Ondo Perps +0.0100%Gate +0.0100%MEXC +0.0100%BingX +0.0100%Backpack +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%Bullet +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Phemex +0.0100%Nado +0.0100%Popdex +0.0096%Lighter +0.0096%Phoenix +0.0063%Orderly +0.0053%Paradex +0.0036%Injective +0.0033%N1 +0.0032%OKX +0.0030%Hyperliquid +0.0026%Bitget +0.0016%Polymarket Perps −0.0027%Bybit −0.0037%Avantis +0.0076%KuCoin −0.0144%Variational Omni −0.0165%TxFlow −0.0231%AZverse −0.0664%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	ArcusONDO-USD	0.3802	+0.0100	pay 0.0013% / 1h	52m 57s	$16K	$202K	10x	Long Arcus5% off
SHORT	Variational OmniONDO	0.3798	−0.0165	pay 0.0082% / 4h	3h 52m	$480K	$2.1M	50x	Short Variational Omni+15% pts

Price gap−0.117%46s

Funding gap−0.0265% /8h

Both sides work against this direction now: funding costs $8 a day on $10k and the gap is 0.084% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.079% in total, about −0.0037%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.117%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

ArcusVariational Omni

ONDO on 42 exchanges

lowest funding first

Before you open

2 ok · 4 to watch

• !
  Watch: Large against open interest13.1 / 10.5 bp

  $10k is over 10% of Arcus’s open interest.
• i
  Note: Margin at max leverage$1,000 + $200

  Arcus 10x, Variational Omni 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ1h / 4h

  Payments land at different times. Close right after the slower leg pays.

  Long Arcus · 1h−$3.00

  Short Variational Omni · 4h−$4.94

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$7.94Long Arcus: 24 payments, −$3.00; short Variational Omni: 6 payments, −$4.94.
• !
  Watch: Prices read 46 s apart−0.117% vs −0.033%

  Part of this gap may be the market moving.
• !
  Watch: Long leg is thinner$16K vs $480K OI

  Arcus sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legArcus points · Variational Omni points

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legArcus No · Variational Omni No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0037%/8h × 21 periods−$7.87

Price spreadprices read too far apart to compare—

Slippage, 4 orderslive order books−$44.06

Fee Arcus bp × 2 orders−$4.50

Fee Variational Omni bp × 2 orders$0.00

Net · 7 days · $10k−$56.44

price spread not counted: prices read too far apart

Costs to cover0.486%Break-evennever at this rate

Slippage: Arcus: live order book, 4 min ago; Variational Omni: RFQ quote, 5 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGArcus10.1413.1 bp−$1318.6 bp−$186doesn’t fitdoesn’t fit

SELL · SHORTVariational Omni5.2610.5 bp−$1115.8 bp−$158doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

ONDO news

posts that mention ONDO, from every exchangeSearch all news →

10-28 16:00	OKX	Other	Europe, your next X Drops basket is here. ZEC, NEAR, SUI, TAO, PEPE, WLD, LINK, PUMP, ONDO and ZAMA are in, with 3.4M $ZAMA up for grabs. Trade @zama for 3× rewards. @okx on X ↗
10-21 12:23	OKX	Other	ZEC (@Zcash) takes the spotlight in X Drops in Europe. Hold ZEC, TAO, LTC, ONDO, LINK, ZRO, LIT, ENA, DOGE or ARB for a share of 200 $ZEC, with 2× on all ZEC trades. Ends Oct 26, 14:00 CEST. @okx on X ↗
10-13 21:19	Arcus	Listing	$ONDO perpetuals are now live on Arcus. Up to 10x leverage. @arcus_xyz on X ↗
10-13 20:05	Arcus	Listing	new market ONDO-USD ($ONDO) seen by our collector
10-13 15:13	OKX	Other	Europe, your next X Drops club is here. near:native, $ZEC, $XRP, $ONDO, $ENA, $SUI, $TAO, $HYPE, $PUMP, $LIT and $ZRO are in, with 38,000 near:native up for grabs. Join the drop. @okx on X ↗
10-13 13:51	Ondo Perps	Listing	New crypto perps campaign. New users can get up to 75% of fees back on crypto trades. The more volume you trade, the higher your fee rebate: ▸ $10K+ volume → get 10% of fees back ▸ $50K+ → get 25% back ▸ $250K+ → get 50% back ▸ $1M+ → get 75% back Crypto perps included in the campaign: ▸ $BTC ▸ $ETH ▸ $ZEC ▸ $SOL ▸ $ENA ▸ $XRP ▸ $HYPE ▸ $PUMP ▸ $ONDO Running from October 13 at 9AM ET to October 20 at 9AM ET. Limited to users who sign up for Ondo Perps after the campaign starts. Rebates are capped at $500 per user. Trade now → @OndoPerps on X ↗