Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0549%/8h= −60.1% APRpaid last 24h −0.059%

Price spread now: Variational Omni against 01 Exchange+0.454%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Variational Omni

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 · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.454% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.454% now, against zero (this spread has no 7-day history yet)): +$45 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange ONDOUSD	0.4507	0.0648	pay 0.0081% / 1h	52m 38s	$371	$2K	10x
Short	Variational Omni ONDO	0.4527	0.0099	get 0.0050% / 4h	2h 52m	$801K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against 01 Exchange. 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 01 ExchangebpFee Variational OmnibpOrdersPrice spread, now +0.454%Rate

Funding earned: −$115.21
Price spread: +0.454% → 0.000%: $45.43
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$76.78
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; Variational Omni: RFQ quote, 1 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	5.53 bp	doesn't fit	14.4 bp −$144	doesn't fit	doesn't fit

01 Exchange: 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	−0.1126%	1h	0.4515	+0.186%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4516	+0.200%	$29K	$354K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4514	+0.147%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4501	−0.126%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4416	−2.019%	$994	$82K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4513	+0.133%	$25K	$8K	10x	as long as short
Variational Omni ONDOshort	+0.0099%	4h	0.4527	+0.454%	$801K	$2.0M	—
Nado ONDO-PERP	+0.0100%	1h	0.4504	−0.067%	$429K	$672K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4514	+0.160%	$40.7M	$27.4M	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4509	+0.049%	$753K	$2.0M	20x	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	0.4504	−0.061%	$66.3M	$220.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4503	−0.089%	$72.6M	$117.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4502	−0.111%	$17.7M	$79.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4500	−0.151%	$73K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4504	−0.075%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4505	−0.044%	$11.8M	$18.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4506	−0.022%	$47.8M	$45.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4506	−0.022%	$14.0M	$10.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4507	0.000%	$25.4M	$41.1M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4505	−0.044%	—	$23.1M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4515	+0.182%	$195K	$975K	15x	as long as short
edgeX ONDOUSDC	+0.0100%	4h	0.4529	+0.484%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4531	+0.522%	$420K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4526	+0.422%	$159K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4516	+0.202%	$76K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4514	+0.155%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4514	+0.155%	$469	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4528	+0.466%	$125K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4513	+0.133%	$4.8M	$6.2M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4505	−0.033%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4505	−0.053%	$402K	$987K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4514	+0.148%	$36K	—	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4520	+0.288%	$304K	$839K	50x	as long as short
Lighter ONDO	+0.0336%	1h	0.4514	+0.160%	$1.4M	$2.2M	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4512	+0.111%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0616% / S −0.0203%	1h	0.4514	+0.161%	$561K	—	100x	as long as short
01 Exchange ONDOUSDlong	+0.0648%	1h	0.4507	long leg	$371	$2K	10x
Reya ONDORUSDPERP	+0.1138%	1h	0.4515	+0.179%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.0146%	1h	0.4507	−0.002%	$255K	$117K	5x	as long as short