Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1041%/8h= −113.9% APRpaid last 24h −0.304%

Price spread now: Variational Omni against Reya+0.088%7-day average — · you sell dearer than you buy

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

Long on Reya 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 airdropReya: Active · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.088% dearer against Reya than usual: you sell high and buy low (spread +0.088% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya ONDORUSDPERP	0.4563	0.1141	pay 0.0143% / 1h	35m 15s	$2K	—	20x
Short	Variational Omni ONDO	0.4567	0.0100	get 0.0050% / 4h	1h 35m	$778K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Reya. 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 ReyabpFee Variational OmnibpOrdersPrice spread, now +0.088%Rate

Funding earned: −$218.51
Price spread: +0.088% → 0.000%: $8.8
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$215.71
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Variational Omni: RFQ quote, 4 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 Reya no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	4.34 bp	doesn't fit	15.2 bp −$152	doesn't fit	doesn't fit

Reya: 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	−0.0353%	1h	0.4554	−0.199%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4559	−0.081%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4556	−0.153%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4559	−0.087%	$431K	$697K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4560	−0.056%	$740K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4556	−0.160%	$67.3M	$225.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4558	−0.109%	$74.2M	$120.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4557	−0.131%	$17.8M	$81.3M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.216%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4559	−0.081%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4557	−0.131%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4555	−0.174%	$47.8M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4557	−0.131%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4559	−0.087%	$25.8M	$41.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4557	−0.131%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4559	−0.080%	$233K	$1.0M	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4567	+0.088%	$778K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4571	+0.171%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	+0.203%	$429K	$938K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4563	+0.003%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4554	−0.196%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4556	−0.153%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4565	+0.045%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4556	−0.153%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4554	−0.198%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4555	−0.169%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4558	−0.098%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4565	+0.043%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.110%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4557	−0.131%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.250%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4574	+0.242%	$301K	$867K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4559	−0.087%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4563	+0.005%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0488%	1h	0.4566	+0.064%	$40.8M	$27.5M	10x	as long as short
Lighter ONDO	+0.0584%	1h	0.4564	+0.014%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0637% / S −0.0211%	1h	0.4559	−0.093%	$578K	—	100x	as long as short
Reya ONDORUSDPERPlong	+0.1141%	1h	0.4563	long leg	$2K	—	20x
dYdX ONDO-USD	+0.1481%	1h	0.4554	−0.185%	$258K	$130K	5x	as long as short