Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against BingX−0.418%7-day average +0.009% · you buy dearer than you sell

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

Long on BingX 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 3 days (all we have)+0.711%+$71 · spread now −0.418%, 7d avg +0.009%

Together, before fees+0.691%+ Points / potential airdropVariational Omni: Active · farm board+$69 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 0.427% cheaper against BingX than usual: you would sell low and buy high, −$43 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX ONDO-USDT	0.4558	0.0100	pay 0.0050% / 4h	1h 27m	—	$22.5M	—
Short	Variational Omni ONDO	0.4539	0.0100	get 0.0050% / 4h	1h 27m	$776K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. 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 BingXbpFee Variational OmnibpOrdersPrice spread, now −0.418%Rate

Funding earned: $0
Price spread: −0.418% → +0.009%: −$42.72
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$52.72
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 11 min ago; Variational Omni: RFQ quote, 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 BingX live order book, 11 min ago	1.09 bp	6.2 bp −$6	11.7 bp −$117	36.4 bp −$3,635	325.6 bp −$162.8K
Sell Variational Omni RFQ quote, 1 min ago	4.39 bp	doesn't fit	15.4 bp −$154	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	−0.0354%	1h	0.4547	−0.232%	$2.8M	$7.9M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4552	−0.128%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4550	−0.176%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4557	−0.022%	$430K	$699K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4552	−0.139%	$729K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4559	+0.024%	$67.3M	$225.9M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4560	+0.044%	$74.2M	$120.6M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4560	+0.044%	$17.7M	$81.4M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4538	−0.445%	$74K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4555	−0.062%	—	—	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	0.4557	−0.022%	$11.9M	$18.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4548	−0.219%	$47.8M	$44.4M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4547	−0.241%	$13.7M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4561	+0.066%	$25.8M	$41.8M	50x	as long as short
BingX ONDO-USDTlong	+0.0100%	4h	0.4558	long leg	—	$22.5M	—
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4550	−0.182%	$229K	$1.0M	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4539	−0.418%	$776K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4555	−0.058%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4540	−0.395%	$426K	$938K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4553	−0.110%	$161K	$334K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4560	+0.035%	$72K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4555	−0.066%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4548	−0.219%	$473	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4563	+0.110%	$133K	$511K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4546	−0.263%	$4.7M	$6.5M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4553	−0.118%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4547	−0.250%	$407K	$861K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4553	−0.119%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4555	−0.077%	$29K	$219K	10x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.219%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0190%	1h	0.4551	−0.154%	$26K	$396K	25x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4564	+0.132%	$300K	$864K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4556	−0.044%	$3.3M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0400%	1h	0.4566	+0.169%	$376	$2K	10x	as long as short
Hyperliquid ONDO	+0.0420%	1h	0.4551	−0.147%	$40.8M	$27.6M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0622% / S −0.0204%	1h	0.4552	−0.128%	$568K	—	100x	as long as short
Lighter ONDO	+0.0648%	1h	0.4557	−0.011%	$1.4M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1141%	1h	0.4555	−0.068%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2869%	1h	0.4552	−0.123%	$258K	$129K	5x	as long as short