Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against edgeX−0.308%74s7-day average −0.024% · you buy dearer than you sell

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

Long on edgeX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now −0.308%, 7d avg −0.024%

Together, before fees+0.182%+ Points / potential airdropedgeX: Active · Variational Omni: Active · farm board+$18 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 0.285% cheaper against edgeX than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of −0.024%. The two prices were read 74 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	edgeX ONDOUSDC	0.4385	0.0100	pay 0.0050% / 4h	3h 00m	$5K	$317K	20x
Short	Variational Omni ONDO	0.4372	0.0100	get 0.0050% / 4h	3h 00m	$776K	$1.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against edgeX. 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 edgeXbpFee Variational OmnibpOrdersPrice spread, now −0.308%Rate

Funding earned: $0
Price spread: −0.308% → −0.024%: −$28.48
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$37.48
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 33 min ago; Variational Omni: RFQ quote, 4 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 edgeX live order book, 33 min ago	4.63 bp	9.5 bp −$10	16.2 bp −$162	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.56 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
Kraken Futures PF_ONDOUSD	−0.0174%	1h	0.4379	−0.144%	$2.5M	$7.4M	50x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4379	−0.147%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+4.168%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4384	−0.028%	$1.1M	$2.4M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4381	−0.085%	$343K	$874K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4380	−0.119%	$763K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4378	−0.165%	$63.9M	$229.0M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4375	−0.233%	$68.8M	$120.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4377	−0.187%	$17.5M	$70.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4381	−0.098%	$72K	$77K	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	0.4380	−0.115%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4379	−0.142%	$13.6M	$15.3M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4378	−0.165%	$44.4M	$42.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4379	−0.142%	$13.1M	$10.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4380	−0.119%	$25.5M	$35.6M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4379	−0.142%	—	$779K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4377	−0.194%	$186K	$999K	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4372	−0.308%	$776K	$1.9M	—
edgeX ONDOUSDClong	+0.0100%	4h	0.4385	long leg	$5K	$317K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4388	+0.063%	$406K	$1.7M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4385	−0.005%	$136K	$327K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4383	−0.046%	$61K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4378	−0.165%	$24K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4382	−0.073%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4379	−0.142%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4387	+0.041%	$132K	$363K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4378	−0.165%	$4.3M	$8.9M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4375	−0.229%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4378	−0.164%	$365K	$793K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4381	−0.100%	$38K	$13K	3x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0207%	1h	0.4380	−0.119%	$24K	$363K	25x	as long as short
01 Exchange ONDOUSD	+0.0256%	1h	0.4382	−0.073%	$361	$2K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4383	−0.051%	$216K	$711K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4389	+0.077%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4377	−0.187%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0368%	1h	0.4385	−0.012%	$36.8M	$27.9M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0584% / S −0.0208%	1h	0.4376	−0.206%	$506K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1163%	1h	0.4377	−0.184%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2892%	1h	0.4378	−0.158%	$250K	$159K	5x	as long as short