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 KuCoin−0.008%7-day average −0.024% · you buy dearer than you sell

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

Long on KuCoin 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)+0.289%+$29 · spread now −0.008%, 7d avg −0.024%

Together, before fees+0.268%+ Points / potential airdropVariational Omni: Active · farm board+$27 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin ONDOUSDTM	0.4409	0.0100	pay 0.0050% / 4h	1h 34m	$12.9M	$10.8M	50x
Short	Variational Omni ONDO	0.4409	0.0100	get 0.0050% / 4h	1h 34m	$713K	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against KuCoin. 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 KuCoinbpFee Variational OmnibpOrdersPrice spread, now −0.008%Rate

Funding earned: $0
Price spread: −0.008% → −0.024%: $1.58
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.42
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	2.28 bp	17.2 bp −$17	44.2 bp −$442	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	5.69 bp	doesn't fit	12.5 bp −$125	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	0.0000%	1h	0.4403	−0.133%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4408	−0.028%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.606%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4413	+0.089%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4412	+0.068%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4410	+0.028%	$373K	$838K	10x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4411	+0.044%	$64.1M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4409	0.000%	$69.6M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4410	+0.023%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4396	−0.304%	$72K	$86K	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	0.4408	−0.029%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4404	−0.113%	$11.6M	$16.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4410	+0.023%	$46.9M	$41.3M	200x	as long as short
KuCoin ONDOUSDTMlong	+0.0100%	4h	0.4409	long leg	$12.9M	$10.8M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4410	+0.023%	$25.2M	$39.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4410	+0.023%	—	$21.9M	—	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4409	−0.008%	$713K	$1.8M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4397	−0.278%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4402	−0.159%	$406K	$983K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4397	−0.272%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4411	+0.050%	$71K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4413	+0.091%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4416	+0.159%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4420	+0.249%	$130K	$473K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4414	+0.113%	$4.2M	$7.6M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4407	−0.044%	$399K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4417	+0.192%	$38K	$13K	3x	as long as short
Paradex ONDO-USD-PERP	+0.0105%	8h	0.4408	−0.019%	$6K	—	10x	as long as short
Aster ONDOUSDT	+0.0148%	4h	0.4409	+0.002%	$711K	$2.3M	20x	as long as short
Hyperliquid ONDO	+0.0179%	1h	0.4415	+0.125%	$38.3M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0194%	1h	0.4416	+0.154%	$190K	$979K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4398	−0.259%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4415	+0.136%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4407	−0.045%	$283K	$703K	50x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4415	+0.132%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4415	+0.136%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4408	−0.022%	$486K	—	100x	as long as short
Lighter ONDO	+0.0864%	1h	0.4413	+0.088%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4411	+0.044%	$2K	—	20x	as long as short