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: Extended against Variational Omni−0.061%7-day average −0.041% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

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)−0.076%−$8 · spread now −0.061%, 7d avg −0.041%

Together, before fees−0.049%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board−$5 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: Extended is 0.021% cheaper against Variational Omni than usual: you would sell low and buy high, −$2 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	Variational Omni ONDO	0.4604	0.0100	pay 0.0050% / 4h	1h 16m	$787K	$2.0M	—
Short	Extended ONDO-USD	0.4601	0.0104	get 0.0013% / 1h	16m 39s	$411K	$855K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now −0.061%Rate

Funding earned: $0.84
Price spread: −0.061% → −0.041%: −$2.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$6.21
Costs to cover: 0.050%
Break-even: 58.8 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Extended: live order book, 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 Variational Omni RFQ quote, 2 min ago	4.33 bp	doesn't fit	13.0 bp −$130	doesn't fit	doesn't fit
Sell Extended live order book, 1 min ago	2.17 bp	5.1 bp −$5	16.1 bp −$161	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	−0.0350%	1h	0.4593	−0.241%	$2.8M	$7.8M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4601	−0.062%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4601	−0.064%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4606	+0.034%	$435K	$703K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4601	−0.069%	$738K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4601	−0.058%	$68.0M	$227.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4600	−0.085%	$74.9M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4601	−0.064%	$18.0M	$82.1M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4590	−0.309%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4600	−0.089%	—	—	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	0.4599	−0.107%	$12.0M	$18.6M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4601	−0.064%	$49.6M	$44.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4599	−0.107%	$13.9M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4602	−0.042%	$26.1M	$41.9M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4602	−0.042%	—	$22.6M	—	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4604	long leg	$787K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4605	+0.025%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4612	+0.176%	$425K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4607	+0.067%	$165K	$330K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4605	+0.015%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4601	−0.064%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4598	−0.129%	$478	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4617	+0.284%	$134K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4598	−0.129%	$4.8M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4598	−0.130%	$7K	$9	10x	as long as short
Extended ONDO-USDshort	+0.0104%	1h	0.4601	−0.061%	$411K	$855K	25x
Aevo ONDO-PERP	+0.0104%	1h	0.4598	−0.126%	$45K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0136%	1h	0.4600	−0.094%	$232K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4601	−0.070%	$37K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	−0.780%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	−0.194%	$301K	$874K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4602	−0.042%	$3.3M	$3.2M	75x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0402%	1h	0.4605	+0.023%	$31K	$432K	25x	as long as short
01 Exchange ONDOUSD	+0.0416%	1h	0.4611	+0.147%	$379	$2K	10x	as long as short
Hyperliquid ONDO	+0.0435%	1h	0.4605	+0.019%	$41.4M	$26.5M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0590% / S −0.0187%	1h	0.4601	−0.071%	$549K	—	100x	as long as short
Lighter ONDO	+0.0704%	1h	0.4609	+0.104%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4602	−0.039%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4442%	1h	0.4595	−0.196%	$260K	$129K	5x	as long as short