Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against BingX−0.029%7-day average +0.001% · you buy dearer than you sell

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.029%, 7d avg +0.001%

Together, before fees+0.011%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.030% cheaper against BingX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4319	0.0100	pay 0.0050% / 4h	59m 08s	—	$23.2M	—
Short	Variational Omni ONDO	0.4318	0.0100	get 0.0050% / 4h	59m 08s	$728K	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → +0.001%: −$2.97
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$12.97
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 10 min ago; Variational Omni: RFQ quote, 5 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 BingX live order book, 10 min ago	2.31 bp	7.3 bp −$7	11.2 bp −$112	43.7 bp −$4,371	339.9 bp −$169.9K
Sell Variational Omni RFQ quote, 5 min ago	4.62 bp	doesn't fit	13.9 bp −$139	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	−0.0176%	1h	0.4318	−0.030%	$2.5M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4319	0.000%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4317	−0.047%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.765%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4322	+0.076%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4317	−0.046%	$346K	$887K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4318	−0.012%	$774K	$2.7M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4319	0.000%	$62.4M	$233.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4316	−0.069%	$67.7M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4319	0.000%	$17.2M	$71.9M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4312	−0.162%	$71K	$80K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4317	−0.039%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4318	−0.023%	$12.7M	$15.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4319	0.000%	$43.5M	$41.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4317	−0.046%	$12.0M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4317	−0.046%	$24.6M	$36.9M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4319	long leg	—	$23.2M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4319	+0.007%	$177K	$995K	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4318	−0.029%	$728K	$1.8M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4321	+0.037%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4323	+0.086%	$407K	$1.5M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4322	+0.069%	$133K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4318	−0.025%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4317	−0.046%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4319	0.000%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4320	+0.023%	$449	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4325	+0.139%	$128K	$395K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4320	+0.023%	$4.2M	$8.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4317	−0.041%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4318	−0.033%	$356K	$810K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4320	+0.022%	$37K	$13K	3x	as long as short
01 Exchange ONDOUSD	+0.0248%	1h	0.4318	−0.021%	$355	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4320	+0.023%	$214K	$729K	50x	as long as short
dYdX ONDO-USD	+0.0308%	1h	0.4315	−0.081%	$242K	$156K	5x	as long as short
Phoenix ONDO	+0.0313%	1h	0.4325	+0.141%	$35K	$220K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4321	+0.046%	$3.1M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0369%	1h	0.4322	+0.063%	$36.3M	$27.1M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0572% / S −0.0203%	1h	0.4317	−0.050%	$494K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1159%	1h	0.4317	−0.035%	$2K	—	20x	as long as short