Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0453%/8h= −49.6% APRpaid last 24h +0.173%

Price spread now: Kraken Futures against Variational Omni−0.286%7-day average +0.086% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.351%+$35 on $10k

Price spread, last 3 days (all we have)+0.376%+$38 · spread now −0.286%, 7d avg +0.086%

Together, before fees+0.727%+ Points / potential airdropVariational Omni: Active · farm board+$73 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Kraken Futures is 0.373% cheaper against Variational Omni than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of +0.086%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.351%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4567	0.0100	pay 0.0050% / 4h	1h 34m	$778K	$2.0M	—
Short	Kraken Futures PF_ONDOUSD	0.4554	−0.0353	pay 0.0044% / 1h	34m 44s	$2.8M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.286%Rate

Funding earned: −$95.13
Price spread: −0.286% → +0.086%: −$37.29
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$142.42
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Kraken Futures: live order book, 4 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, 4 min ago	4.34 bp	doesn't fit	19.5 bp −$195	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	6.54 bp	16.7 bp −$17	38.8 bp −$388	doesn't fit	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_ONDOUSDshort	−0.0353%	1h	0.4554	−0.286%	$2.8M	$7.9M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4559	−0.169%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4556	−0.240%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4559	−0.175%	$431K	$697K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4554	−0.292%	$739K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4563	−0.092%	$67.4M	$225.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4563	−0.087%	$74.4M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4562	−0.109%	$17.8M	$81.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4573	+0.128%	$74K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4555	−0.268%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4559	−0.175%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4562	−0.109%	$47.9M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4560	−0.153%	$13.8M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4561	−0.131%	$25.8M	$41.7M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4561	−0.131%	—	$22.5M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4559	−0.168%	$233K	$1.0M	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4567	long leg	$778K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4571	+0.083%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	+0.115%	$429K	$938K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4563	−0.085%	$74K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4554	−0.284%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4556	−0.240%	$474	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4565	−0.043%	$133K	$512K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4556	−0.240%	$4.7M	$6.4M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4562	−0.116%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4560	−0.153%	$405K	$857K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4558	−0.186%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4565	−0.045%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.022%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0189%	1h	0.4557	−0.218%	$26K	$396K	25x	as long as short
ApeX Omni ONDOUSDT	+0.0244%	1h	0.4620	+1.161%	$163K	$333K	50x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4574	+0.154%	$301K	$867K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4559	−0.175%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4563	−0.083%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0476%	1h	0.4561	−0.140%	$40.8M	$27.5M	10x	as long as short
Lighter ONDO	+0.0584%	1h	0.4573	+0.134%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0637% / S −0.0211%	1h	0.4559	−0.181%	$578K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4563	−0.088%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.1748%	1h	0.4565	−0.033%	$258K	$130K	5x	as long as short