Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Variational Omni against Gate−0.103%7-day average +0.038% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 3 days (all we have)+0.695%+$69 · spread now −0.103%, 7d avg +0.038%

Together, before fees+0.677%+ Points / potential airdropVariational Omni: Active · farm board+$68 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 0.141% cheaper against Gate than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4409	0.0100	pay 0.0050% / 4h	7m 23s	$11.6M	$18.8M	50x
Short	Variational Omni ONDO	0.4404	0.0100	get 0.0050% / 4h	7m 23s	$764K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. 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 GatebpFee Variational OmnibpOrdersPrice spread, now −0.103%Rate

Funding earned: $0
Price spread: −0.103% → +0.038%: −$14.07
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$29.07
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	1.13 bp	17.2 bp −$17	35.1 bp −$351	51.9 bp −$5,188	82.7 bp −$41.4K
Sell Variational Omni RFQ quote, 1 min ago	4.54 bp	doesn't fit	13.6 bp −$136	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	−0.0494%	1h	0.4405	−0.090%	$2.9M	$7.0M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4411	+0.053%	$6K	—	150x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4410	+0.024%	$6K	$9	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4409	0.000%	$453K	$630K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4413	+0.080%	$751K	$1.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4411	+0.049%	$65.5M	$220.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4407	−0.045%	$69.4M	$113.8M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4408	−0.023%	$17.3M	$78.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4413	+0.093%	$72K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4411	+0.044%	—	—	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_USDTlong	+0.0100%	4h	0.4409	long leg	$11.6M	$18.8M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4411	+0.045%	$52.4M	$44.0M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4409	0.000%	$13.4M	$9.9M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4412	+0.068%	$25.0M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4408	−0.023%	—	$750K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4409	+0.002%	$235K	$941K	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4404	−0.103%	$764K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4409	+0.003%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4408	−0.025%	$411K	$816K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4409	0.000%	$155K	$352K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4412	+0.068%	$71K	$995K	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4410	+0.023%	$24K	$8K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4408	−0.023%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4408	−0.023%	$458	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4413	+0.091%	$109K	$526K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4407	−0.045%	$4.9M	$5.9M	50x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4409	−0.007%	$386K	$946K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4410	+0.021%	$35K	—	3x	as long as short
Phoenix ONDO	+0.0127%	1h	0.4408	−0.014%	$28K	$251K	10x	as long as short
Injective ONDO/USDC PERP	+0.0131%	1h	0.4416	+0.159%	$994	$82K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0204%	1h	0.4409	0.000%	$20K	$344K	25x	as long as short
Hyperliquid ONDO	+0.0228%	1h	0.4415	+0.129%	$39.0M	$26.0M	10x	as long as short
01 Exchange ONDOUSD	+0.0232%	1h	0.4414	+0.104%	$363	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4407	−0.045%	$3.2M	$3.1M	75x	as long as short
Lighter ONDO	+0.0480%	1h	0.4414	+0.104%	$1.2M	$1.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0536%	1h	0.4416	+0.159%	$329K	$743K	50x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0608% / S −0.0203%	1h	0.4411	+0.049%	$548K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1135%	1h	0.4410	+0.032%	$2K	—	20x	as long as short
dYdX ONDO-USD	+1.1509%	1h	0.4409	+0.010%	$250K	$116K	5x	as long as short