Funding you earn now, next payment 10:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.004%
Price spread now: Variational Omni against Ondo Perps−0.266%7-day average −0.170% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)−0.015%−$2 on $10k
+Price spread, last 7 days+0.178%+$18 · spread now −0.266%, 7d avg −0.170%
=Together, before fees+0.162%+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm board+$16 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.095% cheaper against Ondo Perps than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.170%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps US500-USD.P | 7,759.6 | 0.0050 | pay 0.0006% / 1h | 54m 17s | $9.5M | $8.5M | 25x |
| Short | Variational Omni US500 | 7,738.9 | 0 | get 0.0000% / 8h | 6h 54m | $17.5M | $8.3M | — |
Ondo Perps US500-USD.P
Variational Omni US500Funding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Ondo Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$10.58
- Price spread: −0.266% → −0.170%
- −$9.54
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$25.13
- Costs to cover
- 0.050%
- Break-even
- never at this rate
Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 5 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Variational Omni RFQ quote, 5 min ago | 1.89 bp | doesn't fit | 2.1 bp −$21 | doesn't fit | doesn't fit |
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.
SP500 on 18 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 | |
|---|---|---|---|---|---|---|---|---|
| QFEX US500-USD | −0.0052% | 1h | 7,758.8 | −0.010% | $9.9M | $3.2M | 30x | as long as short |
| OKX US500-USDT-SWAP | 0.0000% | 8h | 7,761.9 | +0.030% | $137K | $235K | 20x | as long as short |
| Bitget SP500USDT | 0.0000% | 8h | 7,763.2 | +0.047% | $7.2M | $566K | 50x | as long as short |
| Variational Omni US500short | 0.0000% | 8h | 7,738.9 | −0.266% | $17.5M | $8.3M | — | |
| Bullet US500-USD | 0.0000% | 1h | 7,758.7 | −0.011% | $13K | $104K | 10x | as long as short |
| tradeXYZ xyz:SP500 | +0.0032% | 1h | 7,758.6 | −0.012% | $426.1M | $241.9M | 50x | as long as short |
| Lighter US500 | +0.0032% | 1h | 7,757.4 | −0.028% | $2.1M | $28.4M | 50x | as long as short |
| Extended SPX500m-USD | +0.0032% | 1h | 7,760.5 | +0.013% | $3.2M | $10.7M | 25x | as long as short |
| Injective US500/USDC PERP | +0.0033% | 1h | 7,663.3 | −1.240% | $7K | $100 | 52x | as long as short |
| Polymarket Perps SP500-USD | +0.0040% | 1h | 7,756.6 | −0.038% | $10.0M | $3.2M | 50x | as long as short |
QFEX US500-USD
OKX US500-USDT-SWAP
Bitget SP500USDT
Bullet US500-USD
tradeXYZ xyz:SP500
Lighter US500
Extended SPX500m-USD
Injective US500/USDC PERP
Polymarket Perps SP500-USDShow all 18 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Markets by Kinetiq mkts:US500 | +0.0046% | 1h | 7,731.6 | −0.360% | $1.5M | $7.9M | 25x | as long as short |
| Vest SPX-USD-PERP | +0.0046% | 1h | 7,826.4 | +0.861% | — | $4.3M | 50x | as long as short |
| Popdex US500USDT | +0.0048% | 1h | 7,760.6 | +0.014% | $624K | $508K | 20x | as long as short |
| Paradex US500-USD-PERP | +0.0050% | 8h | 7,758.2 | −0.018% | $43K | — | 5x | as long as short |
| SoDEX US500-USD | +0.0050% | 1h | 7,757.9 | −0.021% | $1.4M | $191K | 20x | as long as short |
| Ondo Perps US500-USD.Plong | +0.0050% | 1h | 7,759.6 | long leg | $9.5M | $8.5M | 25x | |
| Pacifica SP500 | +0.0100% | 1h | 7,760.6 | +0.014% | $259K | $172K | 20x | as long as short |
| Aftermath Perps US500USD | +0.0261% | 1h | 7,761.2 | +0.022% | $546 | $30K | 10x | as long as short |
Markets by Kinetiq mkts:US500
Vest SPX-USD-PERP
Popdex US500USDT
Paradex US500-USD-PERP
SoDEX US500-USD
Pacifica SP500
Aftermath Perps US500USD