Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against edgeX−0.195%89s7-day average −0.023% · you buy dearer than you sell

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

Long on edgeX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.195%, 7d avg −0.023%

Together, before fees+0.068%+ Points / potential airdropedgeX: Active · Variational Omni: Active · farm board+$7 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 0.172% cheaper against edgeX than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of −0.023%. The two prices were read 89 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	edgeX ONDOUSDC	0.4438	0.0100	pay 0.0050% / 4h	1h 16m	$5K	$317K	20x
Short	Variational Omni ONDO	0.4430	0.0100	get 0.0050% / 4h	1h 16m	$718K	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against edgeX. 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 edgeXbpFee Variational OmnibpOrdersPrice spread, now −0.195%Rate

Funding earned: $0
Price spread: −0.195% → −0.023%: −$17.19
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$26.19
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 47 min ago; Variational Omni: RFQ quote, 3 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 edgeX live order book, 47 min ago	4.54 bp	9.5 bp −$10	16.1 bp −$161	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	5.63 bp	doesn't fit	12.4 bp −$124	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
dYdX ONDO-USD	+0.0001%	1h	0.4430	−0.184%	$251K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4430	−0.176%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+2.922%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4426	−0.266%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4429	−0.209%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4432	−0.131%	$374K	$837K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4428	−0.237%	$64.3M	$225.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4427	−0.255%	$70.2M	$122.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4430	−0.187%	$17.1M	$72.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4435	−0.081%	$73K	$88K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4430	−0.194%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4424	−0.322%	$11.7M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4426	−0.277%	$47.1M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4430	−0.187%	$13.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4428	−0.232%	$25.3M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4426	−0.277%	—	$761K	—	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4430	−0.195%	$718K	$1.8M	—
edgeX ONDOUSDClong	+0.0100%	4h	0.4438	long leg	$5K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4439	+0.007%	$415K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4443	+0.106%	$137K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4434	−0.104%	$68K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4432	−0.142%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4431	−0.164%	$461	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4441	+0.061%	$131K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4428	−0.232%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4429	−0.202%	$400K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4431	−0.157%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4432	−0.150%	$6K	—	10x	as long as short
Hyperliquid ONDO	+0.0150%	1h	0.4428	−0.227%	$38.4M	$24.2M	10x	as long as short
Aster ONDOUSDT	+0.0187%	4h	0.4430	−0.190%	$713K	$2.3M	20x	as long as short
Backpack ONDO_USDC_PERP	+0.0205%	1h	0.4426	−0.284%	$192K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4440	+0.041%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4435	−0.074%	$3.1M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0360%	1h	0.4435	−0.086%	$365	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4433	−0.119%	$281K	$728K	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0427%	1h	0.4432	−0.142%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0553% / S −0.0190%	1h	0.4430	−0.183%	$489K	—	100x	as long as short
Lighter ONDO	+0.0848%	1h	0.4435	−0.081%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1150%	1h	0.4433	−0.126%	$2K	—	20x	as long as short