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 MEXC−0.163%7-day average −0.004% · you buy dearer than you sell

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

Long on MEXC 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)+0.780%+$78 · spread now −0.163%, 7d avg −0.004%

Together, before fees+0.760%+ Points / potential airdropVariational Omni: Active · farm board+$76 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 0.158% cheaper against MEXC than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC ONDO_USDT	0.4416	0.0100	pay 0.0050% / 4h	2h 27m	$44.2M	$43.0M	200x
Short	Variational Omni ONDO	0.4409	0.0100	get 0.0050% / 4h	2h 27m	$767K	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. 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 MEXCbpFee Variational OmnibpOrdersPrice spread, now −0.163%Rate

Funding earned: $0
Price spread: −0.163% → −0.004%: −$15.84
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.84
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 2 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 MEXC live order book, 2 min ago	1.13 bp	1.1 bp −$1	4.3 bp −$43	19.9 bp −$1,992	102.0 bp −$51.0K
Sell Variational Omni RFQ quote, 2 min ago	4.52 bp	doesn't fit	15.8 bp −$158	doesn't fit	doesn't fit

ONDO on 38 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	−0.0362%	1h	0.4416	−0.006%	$2.6M	$8.1M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4419	+0.074%	$250K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4417	+0.024%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.442%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4417	+0.023%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4422	+0.136%	$388K	$859K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4419	+0.073%	$671K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4418	+0.045%	$64.2M	$231.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4419	+0.068%	$70.0M	$125.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4418	+0.045%	$17.1M	$75.8M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4400	−0.365%	$71K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4420	+0.080%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4416	0.000%	$11.6M	$16.4M	50x	as long as short
MEXC ONDO_USDTlong	+0.0100%	4h	0.4416	long leg	$44.2M	$43.0M	200x
KuCoin ONDOUSDTM	+0.0100%	4h	0.4417	+0.023%	$13.2M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4418	+0.045%	$25.1M	$40.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4418	+0.045%	—	$22.3M	—	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4409	−0.163%	$767K	$1.7M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4413	−0.062%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4410	−0.136%	$419K	$976K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4415	−0.023%	$136K	$367K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4424	+0.172%	$93K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4418	+0.045%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4417	+0.023%	$459	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4425	+0.204%	$129K	$512K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4418	+0.045%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4416	+0.002%	$398K	$821K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4418	+0.045%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0106%	1h	0.4420	+0.088%	$202K	$1.0M	15x	as long as short
Hyperliquid ONDO	+0.0298%	1h	0.4422	+0.129%	$39.1M	$25.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.136%	$284K	$746K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4409	−0.159%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4424	+0.190%	$364	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0430%	1h	0.4418	+0.045%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0551% / S −0.0190%	1h	0.4417	+0.032%	$487K	—	100x	as long as short
Phemex ONDOUSDT	+0.0692%	4h	0.4416	0.000%	$4.2M	$7.4M	50x	as long as short
Lighter ONDO	+0.0824%	1h	0.4424	+0.174%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1147%	1h	0.4422	+0.141%	$2K	—	20x	as long as short