Funding arb · Price arb /

ORCL

RWAall ORCL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0191%/8h= −21.0% APRpaid last 24h −0.022%

Price spread now: Ondo Perps against Variational Omni−0.083%7-day average −0.119% · you buy dearer than you sell

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 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now −0.083%, 7d avg −0.119%

Together, before fees−0.085%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.036% dearer against Variational Omni than usual: you sell high and buy low (spread −0.083% now, against its 7-day average of −0.119%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 15 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.004% in total (about 0.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ORCL	149.72	0.0242	pay 0.0242% / 8h	3h 28m	$1.3M	$363K	—
Short	Ondo Perps ORCL-USD.P	149.60	0.0050	get 0.0006% / 1h	28m 34s	$704K	$726K	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 −0.083%Rate

Funding earned: −$40.19
Price spread: −0.083% → −0.119%: $3.63
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: −$41.56
Costs to cover: 0.050%
Break-even: never at this rate

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	4.44 bp	doesn't fit	32.5 bp −$325	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.

ORCL on 28 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
edgeX ORCLUSDC	−0.0702%	4h	149.65	−0.052%	$28K	$215K	10x	as long as short
Aster ORCLUSDT	0.0000%	8h	149.81	+0.060%	$94K	$16K	20x	as long as short
Bitget ORCLUSDT	0.0000%	8h	149.90	+0.118%	$7.7M	$3.8M	20x	as long as short
SunX ORCL-USDT	0.0000%	8h	149.97	+0.164%	$2K	$2.7M	10x	as long as short
HTX ORCL-USDT	0.0000%	8h	149.83	+0.071%	$52K	$24K	20x	as long as short
Lighter ORCL	+0.0032%	1h	149.78	+0.038%	$475K	$51K	10x	as long as short
Lighter RH ORCL	+0.0032%	1h	149.78	+0.038%	$625K	$315K	10x	as long as short
Injective ORCL/USDC PERP	+0.0033%	1h	149.06	−0.443%	$20K	$12K	12x	as long as short
Arcus ORCL-USD	+0.0040%	1h	149.59	−0.089%	$87K	$79K	10x	as long as short
Vest ORCL-USD-PERP	+0.0046%	1h	149.75	+0.018%	—	$67K	25x	as long as short

Show all 28 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado ORCL-PERP	+0.0048%	1h	149.58	−0.093%	$91K	$20K	10x	as long as short
tradeXYZ xyz:ORCL	+0.0050%	1h	149.67	−0.036%	$21.7M	$6.8M	10x	as long as short
Polymarket Perps ORCL-USD	+0.0050%	1h	149.75	+0.018%	$131K	$91K	10x	as long as short
SoDEX ORCL-USD	+0.0050%	1h	149.75	+0.018%	$30K	$3K	10x	as long as short
Ondo Perps ORCL-USD.Pshort	+0.0050%	1h	149.60	−0.083%	$704K	$726K	10x
QFEX ORCL-USD	+0.0067%	1h	149.77	+0.031%	$1.1M	$2.1M	10x	as long as short
ApeX Omni ORACLEUSDT	+0.0100%	1h	149.66	−0.043%	$22K	$263K	50x	as long as short
Orderly PERP_ORCL_USDC_mythos	+0.0100%	8h	149.74	+0.011%	$190	—	10x	as long as short
GRVT ORCL_USDT_Perp	+0.0208%	8h	149.73	+0.006%	$2K	$177K	10x	as long as short
Variational Omni ORCLlong	+0.0242%	8h	149.72	long leg	$1.3M	$363K	—
Gate ORCL_USDT	+0.0309%	8h	149.83	+0.071%	$2.3M	$3.0M	25x	as long as short
Binance ORCLUSDT	+0.0326%	8h	149.80	+0.050%	$25.2M	$35.5M	20x	as long as short
Extended ORCL_24_5-USD	+0.0328%	1h	149.75	+0.018%	$388K	$1.3M	10x	as long as short
KuCoin ORCLUSDTM	+0.0359%	8h	149.70	−0.016%	$262K	$277K	20x	as long as short
OKX ORCL-USDT-SWAP	+0.0384%	8h	149.84	+0.078%	$5.0M	$5.8M	20x	as long as short
Phoenix ORCL	+0.0535%	1h	149.47	−0.170%	$153K	$75K	10x	as long as short
BloFin ORCL-USDT	+0.0686%	8h	149.77	+0.031%	$47K	$43K	20x	as long as short
Bybit ORCLUSDT	+0.0718%	8h	149.86	+0.091%	$4.1M	$1.8M	50x	as long as short