Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Variational Omni against SunX+0.075%7-day average −0.005% · you sell dearer than you buy

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

Long on SunX 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 3 days (all we have)−0.015%−$1 · spread now +0.075%, 7d avg −0.005%

Together, before fees−0.035%+ Points / potential airdropVariational Omni: Active · farm board−$3 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 0.080% dearer against SunX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX ONDO-USDT	0.4503	0.0100	pay 0.0050% / 4h	2h 07m	—	$1.4M	20x
Short	Variational Omni ONDO	0.4506	0.0100	get 0.0050% / 4h	2h 07m	$790K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SunX. 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 SunXbpFee Variational OmnibpOrdersPrice spread, now +0.075%Rate

Funding earned: $0
Price spread: +0.075% → −0.005%: $8.03
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $0.03
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 7 min ago; Variational Omni: RFQ quote, 2 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 SunX live order book, 7 min ago	47.62 bp	71.1 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	5.53 bp	doesn't fit	16.6 bp −$166	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	−0.1130%	1h	0.4501	−0.043%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4503	0.000%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4502	−0.012%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4517	+0.315%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.422%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4503	0.000%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4507	+0.100%	$423K	$681K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4507	+0.097%	$758K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4503	0.000%	$66.3M	$220.6M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4503	0.000%	$72.9M	$118.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4503	0.000%	$17.6M	$79.8M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4520	+0.375%	$71K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4505	+0.050%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4501	−0.044%	$11.7M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4502	−0.022%	$47.1M	$45.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4502	−0.022%	$13.4M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4503	0.000%	$25.5M	$41.3M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4503	0.000%	—	$22.6M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4503	+0.011%	$194K	$973K	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4506	+0.075%	$790K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4516	+0.288%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4514	+0.251%	$426K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4518	+0.333%	$159K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4504	+0.022%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDTlong	+0.0100%	4h	0.4503	long leg	—	$1.4M	20x
SoDEX ONDO-USD	+0.0100%	1h	0.4503	0.000%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4516	+0.289%	$129K	$519K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4504	+0.022%	$4.7M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4505	+0.048%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4503	−0.002%	$401K	$948K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4506	+0.058%	$35K	—	3x	as long as short
Hyperliquid ONDO	+0.0284%	1h	0.4507	+0.098%	$40.2M	$27.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4506	+0.067%	$301K	$838K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4512	+0.200%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4509	+0.127%	$371	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4511	+0.182%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0191%	1h	0.4502	−0.017%	$542K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4504	+0.015%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9271%	1h	0.4508	+0.101%	$255K	$129K	5x	as long as short