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: KuCoin against Variational Omni−1.129%7-day average +0.027% · you buy dearer than you sell

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

Long on Variational Omni Short on KuCoin

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)+1.139%+$114 · spread now −1.129%, 7d avg +0.027%

Together, before fees+1.159%+ Points / potential airdropVariational Omni: Active · farm board+$116 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: KuCoin is 1.156% cheaper against Variational Omni than usual: you would sell low and buy high, −$116 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4576	0.0100	pay 0.0050% / 4h	3h 02m	$812K	$1.9M	—
Short	KuCoin ONDOUSDTM	0.4524	0.0100	get 0.0050% / 4h	3h 02m	$14.0M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −1.129%Rate

Funding earned: $0
Price spread: −1.129% → +0.027%: −$115.56
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$127.56
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; KuCoin: live order book, 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 Variational Omni RFQ quote, 2 min ago	5.47 bp	doesn't fit	14.2 bp −$142	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.20 bp	22.8 bp −$23	40.5 bp −$405	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	−0.0883%	1h	0.4524	−1.135%	$2.7M	$8.0M	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4534	−0.905%	$257K	$131K	5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4526	−1.085%	$33K	$339K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4528	−1.043%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	−0.167%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4526	−1.085%	$25K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4528	−1.041%	$425K	$718K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4529	−1.012%	$713K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4524	−1.129%	$67.8M	$222.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4521	−1.194%	$72.5M	$119.6M	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	0.4521	−1.194%	$17.3M	$76.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4544	−0.696%	$73K	$91K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4525	−1.101%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4521	−1.194%	$11.8M	$16.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4522	−1.173%	$48.0M	$42.2M	200x	as long as short
KuCoin ONDOUSDTMshort	+0.0100%	4h	0.4524	−1.129%	$14.0M	$10.8M	50x
Bitget ONDOUSDT	+0.0100%	4h	0.4521	−1.194%	$25.6M	$38.7M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4521	−1.194%	—	$743K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4520	−1.214%	$227K	$1.0M	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4576	long leg	$812K	$1.9M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4596	+0.447%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4579	+0.073%	$423K	$955K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4575	−0.014%	$171K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4529	−1.011%	$77K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	−1.151%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4522	−1.173%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4532	−0.954%	$133K	$492K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4526	−1.085%	$4.4M	$7.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4529	−1.027%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4524	−1.124%	$410K	$823K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4527	−1.052%	$39K	$13K	3x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4586	+0.217%	$38K	$248K	10x	as long as short
01 Exchange ONDOUSD	+0.0280%	1h	0.4529	−1.026%	$373	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4530	−0.998%	$296K	$805K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4540	−0.779%	$3.3M	$2.9M	75x	as long as short
Hyperliquid ONDO	+0.0371%	1h	0.4525	−1.098%	$40.2M	$24.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0188%	1h	0.4529	−1.015%	$540K	—	100x	as long as short
Lighter ONDO	+0.0712%	1h	0.4532	−0.943%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1146%	1h	0.4528	−1.036%	$2K	—	20x	as long as short