Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Paradex+0.095%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Variational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.095% dearer against Paradex than usual: you sell high and buy low, +$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex ONDO-USD-PERP	0.4597	0.0101	pay 0.0101% / 8h	54m 34s	$7K	$9	10x
Short	Variational Omni ONDO	0.4601	0.0100	get 0.0050% / 4h	54m 34s	$790K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Paradex. 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 ParadexbpFee Variational OmnibpOrdersPrice spread, now +0.095%Rate

Funding earned: −$0.19
Price spread: +0.095% → 0.000%: $9.45
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $5.26
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; 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 Paradex no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	4.37 bp	doesn't fit	13.1 bp −$131	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0793%	1h	0.4598	+0.039%	$2.9M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.621%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4598	+0.038%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4599	+0.054%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4598	+0.043%	$433K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4602	+0.127%	$727K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4600	+0.075%	$68.6M	$227.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4597	+0.010%	$74.6M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4596	−0.012%	$17.9M	$81.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4591	−0.116%	$75K	$89K	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	0.4596	−0.013%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4597	+0.010%	$12.1M	$18.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4598	+0.032%	$49.7M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4599	+0.054%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4599	+0.054%	$26.1M	$41.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4598	+0.032%	—	$22.3M	—	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4601	+0.095%	$790K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4592	−0.096%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4594	−0.049%	$424K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4590	−0.142%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4603	+0.149%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4601	+0.097%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4600	+0.075%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4610	+0.293%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4596	−0.012%	$4.8M	$6.6M	50x	as long as short
Paradex ONDO-USD-PERPlong	+0.0101%	8h	0.4597	long leg	$7K	$9	10x
Extended ONDO-USD	+0.0104%	1h	0.4598	+0.030%	$411K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4598	+0.040%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4593	−0.083%	$38K	$257K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0293%	1h	0.4596	−0.003%	$232K	$1.0M	15x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4608	+0.249%	$302K	$863K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4604	+0.162%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0368%	1h	0.4605	+0.178%	$40.8M	$26.7M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0402%	1h	0.4601	+0.097%	$37K	$436K	25x	as long as short
01 Exchange ONDOUSD	+0.0504%	1h	0.4604	+0.167%	$379	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4598	+0.040%	$549K	—	100x	as long as short
Lighter ONDO	+0.1096%	1h	0.4607	+0.239%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4600	+0.078%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6351%	1h	0.4598	+0.040%	$260K	$129K	5x	as long as short