Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Ondo Perps against Variational Omni−0.601%51s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.601% cheaper against Variational Omni than usual: you would sell low and buy high, −$60 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4418	0.0100	pay 0.0050% / 4h	1h 53m	$712K	$1.8M	—
Short	Ondo Perps ONDO-USD.P	0.4391	0.0100	get 0.0013% / 1h	53m 51s	$72K	$86K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Variational Omni. 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 Variational OmnibpFee Ondo PerpsbpOrdersPrice spread, now −0.601%Rate

Funding earned: $0
Price spread: −0.601% → 0.000%: −$60.15
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$65.15
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; Ondo Perps: no order-book sample. 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, just now	4.55 bp	doesn't fit	13.6 bp −$136	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

ONDO on 38 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
ApeX Omni ONDOUSDT	−0.0069%	1h	0.4382	−0.810%	$135K	$353K	50x	as long as short
dYdX ONDO-USD	0.0000%	1h	0.4399	−0.419%	$249K	$130K	5x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4397	−0.472%	$6K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+3.401%	$888	$216K	5.5x	as long as short
Kraken Futures PF_ONDOUSD	+0.0061%	1h	0.4399	−0.421%	$2.6M	$8.2M	50x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4400	−0.402%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4399	−0.431%	$376K	$832K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4401	−0.384%	$670K	$2.2M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4401	−0.384%	$63.9M	$225.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4400	−0.402%	$69.7M	$121.9M	50x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4400	−0.402%	$17.0M	$72.0M	50x	as long as short
Ondo Perps ONDO-USD.Pshort	+0.0100%	1h	0.4391	−0.601%	$72K	$86K	10x
RISEx ONDO/USDC	+0.0100%	1h	0.4398	−0.444%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4396	−0.493%	$11.6M	$15.9M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4399	−0.425%	$46.7M	$40.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4398	−0.448%	$13.1M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4399	−0.425%	$25.0M	$39.4M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4400	−0.402%	—	$761K	—	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4418	long leg	$712K	$1.8M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4388	−0.679%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4390	−0.634%	$405K	$978K	10x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4401	−0.384%	$78K	$1.3M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4398	−0.448%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4402	−0.357%	$458	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4415	−0.063%	$130K	$481K	50x	as long as short
Paradex ONDO-USD-PERP	+0.0104%	8h	0.4398	−0.440%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4398	−0.454%	$398K	$787K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4404	−0.318%	$38K	$13K	3x	as long as short
Hyperliquid ONDO	+0.0148%	1h	0.4402	−0.348%	$38.5M	$24.0M	10x	as long as short
Phemex ONDOUSDT	+0.0177%	4h	0.4397	−0.470%	$4.2M	$7.5M	50x	as long as short
Backpack ONDO_USDC_PERP	+0.0199%	1h	0.4398	−0.438%	$191K	$982K	15x	as long as short
Phoenix ONDO	+0.0338%	1h	0.4396	−0.491%	$35K	$225K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0360%	1h	0.4422	+0.096%	$284K	$706K	50x	as long as short
01 Exchange ONDOUSD	+0.0368%	1h	0.4402	−0.352%	$362	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0432%	1h	0.4402	−0.357%	$23K	$349K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0550% / S −0.0190%	1h	0.4396	−0.492%	$485K	—	100x	as long as short
Lighter ONDO	+0.0592%	1h	0.4408	−0.228%	$1.4M	$2.1M	10x	as long as short
Reya ONDORUSDPERP	+0.1149%	1h	0.4398	−0.449%	$2K	—	20x	as long as short