Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Variational Omni+0.234%7-day average −0.029% · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.553%−$55 · spread now +0.234%, 7d avg −0.029%

Together, before fees−0.554%+ Points / potential airdropVariational Omni: Active · farm board−$55 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: Bybit is 0.264% dearer against Variational Omni than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4381	0.0100	pay 0.0050% / 4h	1h 44m	$709K	$1.8M	—
Short	Bybit ONDOUSDT	0.4391	0.0100	get 0.0050% / 4h	1h 44m	$69.3M	$122.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.234%Rate

Funding earned: $0
Price spread: +0.234% → −0.029%: $26.38
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $15.38
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Bybit: live order book, 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 Variational Omni RFQ quote, 5 min ago	5.69 bp	doesn't fit	12.5 bp −$125	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.14 bp	8.5 bp −$9	13.0 bp −$130	48.3 bp −$4,827	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
dYdX ONDO-USD	0.0000%	1h	0.4398	+0.405%	$249K	$129K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4393	+0.276%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.275%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4395	+0.325%	$2.6M	$8.1M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4394	+0.303%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4395	+0.337%	$373K	$837K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4397	+0.362%	$711K	$2.3M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4392	+0.258%	$63.9M	$225.8M	75x	as long as short
Bybit ONDOUSDTshort	+0.0100%	4h	0.4391	+0.234%	$69.3M	$122.6M	50x
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4393	+0.280%	$17.0M	$71.8M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4372	−0.204%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4389	+0.183%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4390	+0.212%	$11.6M	$16.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4392	+0.257%	$46.8M	$41.2M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4397	+0.371%	$13.0M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4392	+0.257%	$25.0M	$39.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4392	+0.257%	—	$759K	—	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4381	long leg	$709K	$1.8M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4381	−0.004%	$4K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4382	+0.030%	$411K	$987K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4392	+0.257%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4395	+0.317%	$70K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4396	+0.348%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4396	+0.348%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4401	+0.463%	$129K	$476K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4398	+0.401%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4389	+0.191%	$396K	$789K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4397	+0.383%	$38K	$13K	3x	as long as short
Phemex ONDOUSDT	+0.0111%	4h	0.4395	+0.326%	$4.2M	$7.6M	50x	as long as short
Hyperliquid ONDO	+0.0135%	1h	0.4399	+0.415%	$38.2M	$24.4M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0189%	1h	0.4402	+0.476%	$190K	$980K	15x	as long as short
Phoenix ONDO	+0.0272%	1h	0.4416	+0.803%	$35K	$225K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4393	+0.280%	$3.1M	$3.0M	75x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4387	+0.143%	$281K	$699K	50x	as long as short
01 Exchange ONDOUSD	+0.0376%	1h	0.4392	+0.248%	$361	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0433%	1h	0.4396	+0.348%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4392	+0.262%	$484K	—	100x	as long as short
Lighter ONDO	+0.0856%	1h	0.4405	+0.549%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4396	+0.353%	$2K	—	20x	as long as short