Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against Variational Omni+0.204%51s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.204% dearer against Variational Omni than usual: you sell high and buy low, +$20 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4576	0.0100	pay 0.0050% / 4h	57m 50s	$790K	$2.0M	—
Short	Ondo Perps ONDO-USD.P	0.4585	0.0100	get 0.0013% / 1h	57m 50s	$75K	$89K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.204%Rate

Funding earned: $0
Price spread: +0.204% → 0.000%: $20.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $15.36
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Ondo Perps: no order-book sample. 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, 1 min ago	4.37 bp	doesn't fit	13.1 bp −$131	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0795%	1h	0.4586	+0.218%	$2.8M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.172%	$888	$216K	5.5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4587	+0.248%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4588	+0.265%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4591	+0.325%	$432K	$708K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4590	+0.309%	$726K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4589	+0.287%	$68.4M	$227.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4585	+0.199%	$74.3M	$122.5M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4585	+0.199%	$17.9M	$81.8M	50x	as long as short
Ondo Perps ONDO-USD.Pshort	+0.0100%	1h	0.4585	+0.204%	$75K	$89K	10x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4587	+0.239%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4585	+0.199%	$12.1M	$17.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4589	+0.287%	$49.6M	$43.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4587	+0.243%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4586	+0.221%	$26.0M	$41.6M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4588	+0.265%	—	$22.2M	—	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4576	long leg	$790K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4587	+0.236%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4588	+0.265%	$423K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4589	+0.287%	$164K	$307K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4593	+0.370%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4590	+0.309%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4588	+0.265%	$477	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4596	+0.440%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4588	+0.265%	$4.8M	$6.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4588	+0.254%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4587	+0.245%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4572	−0.086%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4591	+0.333%	$38K	$217K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0186%	1h	0.4589	+0.287%	$36K	$436K	25x	as long as short
Hyperliquid ONDO	+0.0205%	1h	0.4590	+0.315%	$40.7M	$26.9M	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0283%	1h	0.4589	+0.293%	$231K	$1.0M	15x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4588	+0.265%	$301K	$861K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4590	+0.309%	$3.3M	$3.2M	75x	as long as short
01 Exchange ONDOUSD	+0.0440%	1h	0.4594	+0.392%	$378	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0188%	1h	0.4587	+0.237%	$548K	—	100x	as long as short
Lighter ONDO	+0.0888%	1h	0.4597	+0.472%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4591	+0.326%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6583%	1h	0.4580	+0.098%	$259K	$129K	5x	as long as short