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: KuCoin against Variational Omni−0.132%7-day average +0.024% · you buy dearer than you sell

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

Long on Variational Omni Short on KuCoin

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)+0.048%+$5 · spread now −0.132%, 7d avg +0.024%

Together, before fees+0.068%+ Points / potential airdropVariational Omni: Active · farm board+$7 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: KuCoin is 0.156% cheaper against Variational Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4341	0.0100	pay 0.0050% / 4h	2h 55m	$683K	$1.7M	—
Short	KuCoin ONDOUSDTM	0.4335	0.0100	get 0.0050% / 4h	2h 55m	$12.2M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.132%Rate

Funding earned: $0
Price spread: −0.132% → +0.024%: −$15.64
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$27.64
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; KuCoin: live order book, 8 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	4.63 bp	doesn't fit	13.9 bp −$139	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	1.15 bp	16.0 bp −$16	29.9 bp −$299	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_ONDOUSD	−0.0240%	1h	0.4339	−0.044%	$2.6M	$7.9M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4335	−0.127%	$248K	$133K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4344	+0.075%	$18K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4342	+0.026%	$7K	—	150x	as long as short
01 Exchange ONDOUSD	+0.0032%	1h	0.4333	−0.190%	$357	$2K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.236%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4336	−0.098%	$1.1M	$2.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4343	+0.052%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4340	−0.011%	$352K	$875K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4338	−0.063%	$36.4M	$25.7M	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance ONDOUSDT	+0.0100%	4h	0.4336	−0.114%	$62.4M	$234.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4332	−0.201%	$67.4M	$125.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4334	−0.155%	$17.1M	$72.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4346	+0.133%	$72K	$83K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4333	−0.183%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4334	−0.155%	$12.0M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4333	−0.178%	$42.7M	$41.6M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4335	−0.132%	$12.2M	$10.6M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4333	−0.178%	$24.8M	$39.9M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4333	−0.178%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4341	+0.015%	$175K	$982K	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4341	long leg	$683K	$1.7M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4324	−0.385%	$4K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4325	−0.353%	$404K	$1.2M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4332	−0.201%	$134K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4340	−0.029%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4341	+0.006%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4342	+0.029%	$451	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4344	+0.075%	$129K	$428K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4342	+0.029%	$4.2M	$8.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4333	−0.180%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4332	−0.212%	$389K	$792K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4341	+0.002%	$38K	$13K	3x	as long as short
Aster ONDOUSDT	+0.0116%	4h	0.4337	−0.086%	$776K	$2.6M	20x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0272%	1h	0.4338	−0.063%	$218K	$766K	50x	as long as short
Phoenix ONDO	+0.0327%	1h	0.4321	−0.448%	$34K	$214K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4338	−0.063%	$3.1M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0554% / S −0.0193%	1h	0.4341	+0.015%	$483K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1155%	1h	0.4339	−0.040%	$2K	—	20x	as long as short