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 0.000%

Price spread now: Phemex against Variational Omni+0.614%7-day average +0.021% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.042%+$4 on $10k

Price spread, last 3 days (all we have)−0.614%−$61 · spread now +0.614%, 7d avg +0.021%

Together, before fees−0.572%+ Points / potential airdropVariational Omni: Active · farm board−$57 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: Phemex is 0.594% dearer against Variational Omni than usual: you sell high and buy low, +$59 on $10k if it goes back to its 7-day average of +0.021%.

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	55m 26s	$790K	$2.0M	—
Short	Phemex ONDOUSDT	0.4604	0.0100	get 0.0050% / 4h	55m 26s	$4.8M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.614%Rate

Funding earned: $0
Price spread: +0.614% → +0.021%: $59.38
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $47.38
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Phemex: live order book, 3 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	4.37 bp	doesn't fit	13.1 bp −$131	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	8.72 bp	21.3 bp −$21	30.5 bp −$305	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	−0.0793%	1h	0.4601	+0.553%	$2.8M	$7.8M	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	0.4601	+0.553%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4603	+0.593%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4604	+0.625%	$434K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4605	+0.636%	$727K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4605	+0.645%	$68.7M	$227.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4602	+0.571%	$74.7M	$122.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4601	+0.549%	$17.9M	$81.9M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4591	+0.335%	$75K	$89K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4600	+0.536%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4600	+0.527%	$12.1M	$17.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4601	+0.549%	$49.8M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4603	+0.593%	$13.9M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4601	+0.549%	$26.1M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4601	+0.549%	—	$743K	—	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4576	long leg	$790K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4592	+0.355%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4594	+0.402%	$424K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4590	+0.309%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4603	+0.601%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4602	+0.571%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4605	+0.636%	$479	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4604	+0.614%	$134K	$505K	50x	as long as short
Phemex ONDOUSDTshort	+0.0100%	4h	0.4604	+0.614%	$4.8M	$6.6M	50x
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4601	+0.559%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4601	+0.554%	$411K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4602	+0.579%	$45K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4593	+0.368%	$38K	$257K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0296%	1h	0.4606	+0.652%	$232K	$1.0M	15x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4597	+0.462%	$301K	$861K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4593	+0.374%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0364%	1h	0.4606	+0.656%	$40.9M	$27.0M	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0402%	1h	0.4604	+0.614%	$37K	$436K	25x	as long as short
01 Exchange ONDOUSD	+0.0496%	1h	0.4609	+0.732%	$379	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0188%	1h	0.4601	+0.545%	$549K	—	100x	as long as short
Lighter ONDO	+0.1064%	1h	0.4615	+0.861%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4600	+0.530%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6413%	1h	0.4600	+0.534%	$260K	$129K	5x	as long as short