Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h +0.001%

Price spread now: Aevo against Variational Omni−0.573%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Aevo

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 airdropVariational 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: Aevo is 0.573% cheaper against Variational Omni than usual: you would sell low and buy high, −$57 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	Variational Omni ONDO	0.4527	0.0099	pay 0.0050% / 4h	2h 54m	$801K	$2.0M	—
Short	Aevo ONDO-PERP	0.4502	0.0104	get 0.0013% / 1h	54m 03s	$35K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Variational Omni. 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 Variational OmnibpFee AevobpOrdersPrice spread, now −0.573%Rate

Funding earned: $0.97
Price spread: −0.573% → 0.000%: −$57.27
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$72.29
Costs to cover: 0.160%
Break-even: 526.6 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Aevo: no order-book sample. 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 Variational Omni RFQ quote, 5 min ago	4.41 bp	doesn't fit	13.2 bp −$132	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	−0.1129%	1h	0.4504	−0.509%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4503	−0.541%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4500	−0.616%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.462%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4501	−0.585%	$25K	$8K	10x	as long as short
Variational Omni ONDOlong	+0.0099%	4h	0.4527	long leg	$801K	$2.0M	—
Nado ONDO-PERP	+0.0100%	1h	0.4497	−0.668%	$429K	$671K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4511	−0.368%	$40.6M	$27.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4501	−0.590%	$752K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4505	−0.490%	$66.3M	$220.2M	75x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit ONDOUSDT	+0.0100%	4h	0.4506	−0.474%	$72.7M	$117.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4506	−0.474%	$17.7M	$79.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4500	−0.611%	$73K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4501	−0.583%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4504	−0.519%	$11.8M	$18.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4506	−0.474%	$47.8M	$45.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4502	−0.563%	$13.9M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4508	−0.430%	$25.4M	$41.1M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4506	−0.474%	—	$747K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4507	−0.452%	$195K	$975K	15x	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4528	+0.011%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4526	−0.024%	$420K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4526	−0.033%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4501	−0.585%	$75K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4503	−0.541%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4502	−0.563%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4505	−0.496%	$124K	$509K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4501	−0.585%	$4.8M	$6.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4495	−0.718%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4502	−0.567%	$402K	$987K	25x	as long as short
Aevo ONDO-PERPshort	+0.0104%	1h	0.4502	−0.573%	$35K	—	3x
Phoenix ONDO	+0.0144%	1h	0.4525	−0.050%	$30K	$222K	10x	as long as short
Lighter ONDO	+0.0320%	1h	0.4510	−0.384%	$1.4M	$2.2M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4503	−0.541%	$303K	$836K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4531	+0.078%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0344%	1h	0.4530	+0.062%	$373	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0615% / S −0.0203%	1h	0.4501	−0.580%	$559K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1138%	1h	0.4496	−0.705%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9503%	1h	0.4515	−0.280%	$255K	$117K	5x	as long as short