Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against BingX−0.324%7-day average +0.003% · you buy dearer than you sell

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.941%+$94 · spread now −0.324%, 7d avg +0.003%

Together, before fees+0.921%+ Points / potential airdropVariational Omni: Active · farm board+$92 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: Variational Omni is 0.327% cheaper against BingX than usual: you would sell low and buy high, −$33 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDC	0.4407	0.0100	pay 0.0050% / 4h	2h 04m	—	$761K	—
Short	Variational Omni ONDO	0.4393	0.0100	get 0.0050% / 4h	2h 04m	$761K	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now −0.324%Rate

Funding earned: $0
Price spread: −0.324% → +0.003%: −$32.68
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$42.68
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 69 min ago; Variational Omni: RFQ quote, 5 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 BingX live order book, 69 min ago	2.16 bp	49.6 bp −$50	102.5 bp −$1,025	548.3 bp −$54.8K	969.6 bp −$484.8K
Sell Variational Omni RFQ quote, 5 min ago	4.57 bp	doesn't fit	13.7 bp −$137	doesn't fit	doesn't fit

ONDO on 38 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	−0.0363%	1h	0.4396	−0.250%	$2.6M	$8.2M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4397	−0.225%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4406	−0.023%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.653%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4396	−0.250%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4409	+0.057%	$381K	$837K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4404	−0.075%	$671K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4409	+0.045%	$64.0M	$228.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4409	+0.045%	$69.9M	$123.0M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4409	+0.045%	$17.0M	$73.0M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4389	−0.420%	$72K	$86K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4410	+0.074%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4405	−0.045%	$11.6M	$16.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4408	+0.023%	$46.6M	$43.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4407	0.000%	$13.1M	$10.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4408	+0.023%	$25.0M	$39.5M	50x	as long as short
BingX ONDO-USDClong	+0.0100%	4h	0.4407	long leg	—	$761K	—
Variational Omni ONDOshort	+0.0100%	4h	0.4393	−0.324%	$761K	$1.8M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4392	−0.337%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4386	−0.486%	$404K	$978K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4389	−0.408%	$135K	$355K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4409	+0.050%	$80K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4398	−0.204%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4399	−0.182%	$457	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4402	−0.113%	$129K	$497K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0103%	8h	0.4404	−0.074%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4411	+0.102%	$398K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4400	−0.170%	$38K	$13K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0168%	1h	0.4399	−0.184%	$196K	$994K	15x	as long as short
Phemex ONDOUSDT	+0.0225%	4h	0.4397	−0.227%	$4.2M	$7.5M	50x	as long as short
Hyperliquid ONDO	+0.0232%	1h	0.4410	+0.070%	$38.7M	$24.1M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4422	+0.340%	$284K	$707K	50x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4393	−0.320%	$35K	$231K	10x	as long as short
01 Exchange ONDOUSD	+0.0352%	1h	0.4410	+0.073%	$363	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0433%	1h	0.4398	−0.204%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4404	−0.071%	$486K	—	100x	as long as short
Lighter ONDO	+0.0792%	1h	0.4412	+0.104%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1148%	1h	0.4408	+0.027%	$2K	—	20x	as long as short