Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Variational Omni+0.025%7-day average −0.007% · you sell dearer than you buy

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

Long on Variational Omni Short on BingX

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 3 days (all we have)−0.154%−$15 · spread now +0.025%, 7d avg −0.007%

Together, before fees−0.134%+ Points / potential airdropVariational Omni: Active · farm board−$13 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: BingX is 0.032% dearer against Variational Omni than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4563	0.0100	pay 0.0050% / 4h	9m 32s	$803K	$2.0M	—
Short	BingX ONDO-USDC	0.4564	0.0100	get 0.0050% / 4h	9m 32s	—	$741K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Variational Omni. 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 Variational OmnibpFee BingXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $0
Price spread: +0.025% → −0.007%: $3.22
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$6.78
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; BingX: live order book, 19 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 Variational Omni RFQ quote, 5 min ago	4.38 bp	doesn't fit	11.0 bp −$110	doesn't fit	doesn't fit
Sell BingX live order book, 19 min ago	2.20 bp	51.5 bp −$52	93.3 bp −$933	644.5 bp −$64.4K	1037.6 bp −$518.8K

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	−0.0799%	1h	0.4565	+0.047%	$2.8M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	+0.113%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4568	+0.113%	$35K	$363K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4566	+0.074%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4565	+0.047%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4563	+0.014%	$438K	$705K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4572	+0.196%	$40.4M	$26.3M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4566	+0.071%	$723K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4564	+0.025%	$68.2M	$226.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4565	+0.047%	$74.0M	$120.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4565	+0.047%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4576	+0.282%	$74K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4564	+0.017%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4561	−0.040%	$12.0M	$18.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4564	+0.025%	$48.9M	$43.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4564	+0.025%	$14.1M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4566	+0.069%	$25.8M	$40.3M	50x	as long as short
BingX ONDO-USDCshort	+0.0100%	4h	0.4564	+0.025%	—	$741K	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4568	+0.124%	$229K	$1.0M	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4563	long leg	$803K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4563	+0.004%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4561	−0.029%	$421K	$949K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4563	+0.004%	$173K	$311K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4568	+0.111%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4565	+0.047%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4566	+0.069%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4576	+0.288%	$134K	$504K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4566	+0.069%	$4.6M	$6.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4563	−0.001%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4561	−0.049%	$407K	$844K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4569	+0.135%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4569	+0.126%	$38K	$257K	10x	as long as short
01 Exchange ONDOUSD	+0.0288%	1h	0.4565	+0.056%	$376	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4576	+0.288%	$298K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4565	+0.047%	$3.3M	$3.3M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0588% / S −0.0188%	1h	0.4565	+0.048%	$545K	—	100x	as long as short
Lighter ONDO	+0.0688%	1h	0.4573	+0.231%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1144%	1h	0.4566	+0.076%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2768%	1h	0.4566	+0.061%	$258K	$132K	5x	as long as short