Funding arb · Price arb /

ONDO

all ONDO markets

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 −0.003%

Price spread now: Gate against Variational Omni−0.380%7-day average −0.028% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.176%+$18 · spread now −0.380%, 7d avg −0.028%

Together, before fees+0.193%+ Points / potential airdropVariational Omni: Active · farm board+$19 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: Gate is 0.352% cheaper against Variational Omni than usual: you would sell low and buy high, −$35 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4537	0.0100	pay 0.0050% / 4h	2h 16m	$790K	$2.0M	—
Short	Gate ONDO_USDT	0.4520	0.0100	get 0.0050% / 4h	2h 16m	$11.8M	$18.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.380%Rate

Funding earned: $0
Price spread: −0.380% → −0.028%: −$35.23
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$50.23
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Gate: 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, 3 min ago	5.51 bp	doesn't fit	16.5 bp −$165	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.20 bp	26.6 bp −$27	43.2 bp −$432	52.0 bp −$5,198	80.6 bp −$40.3K

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	−0.1125%	1h	0.4519	−0.403%	$2.9M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4523	−0.314%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4520	−0.370%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4539	+0.047%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.336%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4520	−0.380%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4521	−0.364%	$422K	$679K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4523	−0.311%	$761K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4522	−0.346%	$66.8M	$220.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4521	−0.358%	$73.3M	$118.0M	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	0.4521	−0.358%	$17.8M	$80.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4528	−0.206%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4523	−0.316%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4520	−0.380%	$11.8M	$18.8M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4521	−0.358%	$47.5M	$45.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4521	−0.358%	$13.5M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4522	−0.336%	$25.6M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4520	−0.380%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4529	−0.182%	$193K	$971K	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4537	long leg	$790K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4538	+0.008%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4535	−0.053%	$428K	$948K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4541	+0.083%	$160K	$331K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4524	−0.301%	$103K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4525	−0.270%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4521	−0.358%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4528	−0.204%	$130K	$520K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4523	−0.314%	$4.8M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4522	−0.330%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4521	−0.349%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4524	−0.285%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0272%	1h	0.4527	−0.219%	$40.5M	$27.8M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.039%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4531	−0.138%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4528	−0.210%	$373	$2K	10x	as long as short
Lighter ONDO	+0.0552%	1h	0.4534	−0.063%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0616% / S −0.0203%	1h	0.4520	−0.382%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4522	−0.325%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9222%	1h	0.4523	−0.319%	$256K	$128K	5x	as long as short