Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against Variational Omni−0.413%7-day average +0.009% · you buy dearer than you sell

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

Long on Variational Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.410%+$41 · spread now −0.413%, 7d avg +0.009%

Together, before fees+0.430%+ Points / potential airdropVariational Omni: Active · farm board+$43 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: Bitget is 0.422% cheaper against Variational Omni than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4320	0.0100	pay 0.0050% / 4h	2h 32m	$648K	$1.7M	—
Short	Bitget ONDOUSDT	0.4302	0.0100	get 0.0050% / 4h	2h 32m	$24.6M	$40.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.413%Rate

Funding earned: $0
Price spread: −0.413% → +0.009%: −$42.18
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$54.18
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bitget: live order book, 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 Variational Omni RFQ quote, 2 min ago	4.64 bp	doesn't fit	11.6 bp −$116	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.33 bp	11.9 bp −$12	17.0 bp −$170	68.7 bp −$6,869	doesn't fit

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	−0.0243%	1h	0.4297	−0.525%	$2.5M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4301	−0.438%	$7K	—	150x	as long as short
dYdX ONDO-USD	+0.0018%	1h	0.4301	−0.441%	$241K	$137K	5x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.745%	$888	$216K	5.5x	as long as short
01 Exchange ONDOUSD	+0.0064%	1h	0.4305	−0.332%	$354	$2K	10x	as long as short
Lighter ONDO	+0.0096%	1h	0.4303	−0.383%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4304	−0.372%	$350K	$876K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4303	−0.390%	$35.9M	$26.1M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4302	−0.414%	$774K	$2.6M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4301	−0.440%	$61.9M	$235.7M	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	0.4299	−0.482%	$67.0M	$125.9M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4301	−0.436%	$17.1M	$73.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4316	−0.084%	$71K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4304	−0.372%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4302	−0.413%	$12.0M	$16.4M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4300	−0.459%	$42.4M	$42.3M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4301	−0.436%	$12.0M	$10.6M	50x	as long as short
Bitget ONDOUSDTshort	+0.0100%	4h	0.4302	−0.413%	$24.6M	$40.0M	50x
BingX ONDO-USDC	+0.0100%	4h	0.4304	−0.366%	—	$764K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4301	−0.431%	$176K	$989K	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4320	long leg	$648K	$1.7M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4331	+0.269%	$4K	$316K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4321	+0.017%	$400K	$1.3M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4330	+0.235%	$133K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4306	−0.329%	$67K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4301	−0.436%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4304	−0.366%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4300	−0.459%	$447	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4314	−0.135%	$128K	$429K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4299	−0.482%	$4.1M	$8.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4307	−0.298%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4299	−0.474%	$387K	$795K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4303	−0.401%	$37K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0215%	1h	0.4303	−0.390%	$18K	$362K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4346	+0.606%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0332%	1h	0.4313	−0.163%	$34K	$223K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4305	−0.343%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0560% / S −0.0197%	1h	0.4301	−0.438%	$484K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1156%	1h	0.4301	−0.435%	$2K	—	20x	as long as short