Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Extended+0.708%7-day average +0.041% · you sell dearer than you buy

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.028%−$3 on $10k

Price spread, last 3 days (all we have)−0.571%−$57 · spread now +0.708%, 7d avg +0.041%

Together, before fees−0.598%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$60 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 0.668% dearer against Extended than usual: you sell high and buy low, +$67 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended ONDO-USD	0.4566	0.0104	pay 0.0013% / 1h	13m 11s	$409K	$855K	25x
Short	Variational Omni ONDO	0.4598	0.0100	get 0.0050% / 4h	1h 13m	$787K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.708%Rate

Funding earned: −$0.84
Price spread: +0.708% → +0.041%: $66.76
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $60.92
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 5 min ago; 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 Extended live order book, 5 min ago	2.17 bp	6.6 bp −$7	15.1 bp −$151	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	4.37 bp	doesn't fit	13.1 bp −$131	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	−0.0352%	1h	0.4567	+0.023%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4565	−0.007%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4566	+0.009%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4565	−0.024%	$432K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4569	+0.074%	$733K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4567	+0.029%	$67.5M	$226.7M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4567	+0.031%	$74.0M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4568	+0.053%	$17.8M	$81.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4588	+0.493%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4566	+0.002%	—	—	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate ONDO_USDT	+0.0100%	4h	0.4565	−0.013%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4566	+0.009%	$49.2M	$44.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4566	+0.009%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4567	+0.031%	$25.9M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4567	+0.031%	—	$741K	—	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4598	+0.708%	$787K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4603	+0.830%	$5K	$320K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4600	+0.750%	$424K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4607	+0.907%	$165K	$317K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4568	+0.057%	$68K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4566	+0.009%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4567	+0.031%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4577	+0.250%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4567	+0.031%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4566	+0.010%	$7K	$9	10x	as long as short
Extended ONDO-USDlong	+0.0104%	1h	0.4566	long leg	$409K	$855K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4570	+0.097%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4586	+0.443%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0148%	1h	0.4569	+0.084%	$230K	$1.0M	15x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.053%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.644%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4565	−0.013%	$3.2M	$3.1M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0407%	1h	0.4568	+0.053%	$31K	$432K	25x	as long as short
Hyperliquid ONDO	+0.0408%	1h	0.4571	+0.116%	$40.6M	$27.2M	10x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4572	+0.143%	$376	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0187%	1h	0.4565	−0.010%	$544K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4576	+0.237%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4565	−0.005%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4885%	1h	0.4566	+0.012%	$258K	$129K	5x	as long as short