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: Variational Omni against Binance−0.349%7-day average −0.021% · you buy dearer than you sell

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

Long on Binance 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 4 days (all we have)+0.549%+$55 · spread now −0.349%, 7d avg −0.021%

Together, before fees+0.528%+ Points / potential airdropVariational Omni: Active · farm board+$53 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 0.328% cheaper against Binance than usual: you would sell low and buy high, −$33 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONDOUSDT	0.4384	0.0100	pay 0.0050% / 4h	40m 54s	$63.1M	$229.4M	75x
Short	Variational Omni ONDO	0.4369	0.0100	get 0.0050% / 4h	40m 54s	$708K	$1.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Binance. 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 BinancebpFee Variational OmnibpOrdersPrice spread, now −0.349%Rate

Funding earned: $0
Price spread: −0.349% → −0.021%: −$32.79
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$42.79
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 Binance live order book, 3 min ago	1.14 bp	7.9 bp −$8	13.7 bp −$137	48.6 bp −$4,863	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.57 bp	doesn't fit	13.7 bp −$137	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
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4369	−0.345%	$7K	—	150x	as long as short
Kraken Futures PF_ONDOUSD	+0.0033%	1h	0.4371	−0.298%	$2.6M	$7.9M	50x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.197%	$888	$216K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4371	−0.297%	$24K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4372	−0.279%	$370K	$843K	10x	as long as short
Hyperliquid ONDO	+0.0100%	1h	0.4384	−0.007%	$37.6M	$24.6M	10x	as long as short
Binance ONDOUSDTlong	+0.0100%	4h	0.4384	long leg	$63.1M	$229.4M	75x
Bybit ONDOUSDT	+0.0100%	4h	0.4379	−0.114%	$69.2M	$124.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4383	−0.023%	$16.9M	$72.6M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4381	−0.071%	$72K	$84K	10x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
RISEx ONDO/USDC	+0.0100%	1h	0.4370	−0.326%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4379	−0.114%	$11.5M	$16.2M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4382	−0.046%	$45.8M	$41.6M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4379	−0.114%	$12.7M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4382	−0.046%	$25.0M	$39.8M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4381	−0.068%	—	$763K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4375	−0.201%	$187K	$981K	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4369	−0.349%	$708K	$1.7M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4378	−0.144%	$4K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4376	−0.185%	$410K	$1.0M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4376	−0.182%	$135K	$354K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4373	−0.246%	$67K	$1.4M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4373	−0.251%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4373	−0.251%	$455	$13K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4380	−0.091%	$127K	$477K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4372	−0.274%	$4.2M	$7.8M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4372	−0.264%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4380	−0.088%	$395K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4374	−0.226%	$38K	$13K	3x	as long as short
Lighter ONDO	+0.0120%	1h	0.4377	−0.153%	$1.1M	$2.4M	10x	as long as short
Aster ONDOUSDT	+0.0214%	4h	0.4377	−0.159%	$743K	$2.4M	20x	as long as short
01 Exchange ONDOUSD	+0.0224%	1h	0.4372	−0.269%	$360	$2K	10x	as long as short
dYdX ONDO-USD	+0.0241%	1h	0.4368	−0.373%	$247K	$129K	5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4394	+0.228%	$276K	$718K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4377	−0.160%	$3.1M	$3.0M	75x	as long as short
Phoenix ONDO	+0.0365%	1h	0.4374	−0.240%	$35K	$223K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0606% / S −0.0219%	1h	0.4369	−0.354%	$519K	—	100x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0665%	1h	0.4374	−0.228%	$23K	$346K	25x	as long as short
Reya ONDORUSDPERP	+0.1151%	1h	0.4371	−0.298%	$2K	—	20x	as long as short