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 +0.003%

Price spread now: Variational Omni against Gate+0.305%7-day average +0.026% · you sell dearer than you buy

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.017%−$2 on $10k

Price spread, last 3 days (all we have)−0.292%−$29 · spread now +0.305%, 7d avg +0.026%

Together, before fees−0.309%+ Points / potential airdropVariational Omni: Active · farm board−$31 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 0.278% dearer against Gate than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONDO_USDT	0.4573	0.0100	pay 0.0050% / 4h	49m 46s	$12.0M	$18.0M	50x
Short	Variational Omni ONDO	0.4587	0.0100	get 0.0050% / 4h	49m 46s	$789K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. 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 GatebpFee Variational OmnibpOrdersPrice spread, now +0.305%Rate

Funding earned: $0
Price spread: +0.305% → +0.026%: $27.82
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $12.82
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	1.09 bp	16.1 bp −$16	38.0 bp −$380	49.0 bp −$4,902	78.7 bp −$39.4K
Sell Variational Omni RFQ quote, 4 min ago	4.35 bp	doesn't fit	13.1 bp −$131	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	−0.0797%	1h	0.4575	+0.052%	$2.9M	$8.0M	50x	as long as short
Injective ONDO/USDC PERP	−0.0545%	1h	0.4568	−0.109%	$888	$216K	5.5x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4574	+0.022%	$36K	$436K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4574	+0.026%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4574	+0.022%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4583	+0.219%	$432K	$706K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4577	+0.083%	$725K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4576	+0.061%	$68.4M	$227.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4574	+0.022%	$74.3M	$122.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4573	0.000%	$17.8M	$81.3M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4597	+0.523%	$75K	$89K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4581	+0.173%	—	—	5x	as long as short
Gate ONDO_USDTlong	+0.0100%	4h	0.4573	long leg	$12.0M	$18.0M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4575	+0.044%	$49.4M	$43.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4574	+0.022%	$13.8M	$11.1M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4576	+0.066%	$26.0M	$41.4M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4574	+0.022%	—	$22.3M	—	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4587	+0.305%	$789K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4603	+0.662%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4595	+0.484%	$424K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4595	+0.481%	$174K	$312K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4584	+0.241%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4585	+0.262%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4575	+0.044%	$476	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4589	+0.350%	$134K	$503K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4575	+0.044%	$4.7M	$6.7M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4586	+0.287%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4574	+0.013%	$409K	$846K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4578	+0.120%	$44K	$8K	3x	as long as short
Backpack ONDO_USDC_PERP	+0.0220%	1h	0.4574	+0.022%	$231K	$1.0M	15x	as long as short
Phoenix ONDO	+0.0244%	1h	0.4596	+0.499%	$38K	$257K	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0304%	1h	0.4599	+0.569%	$302K	$859K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4588	+0.328%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0364%	1h	0.4579	+0.131%	$40.6M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0504%	1h	0.4587	+0.304%	$378	$2K	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0587% / S −0.0200%	1h	0.4574	+0.022%	$564K	—	100x	as long as short
Lighter ONDO	+0.1040%	1h	0.4584	+0.236%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4578	+0.117%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.6733%	1h	0.4586	+0.292%	$260K	$129K	5x	as long as short