Funding arb · Price arb /

ONDO

all ONDO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0452%/8h= +49.5% APRpaid last 24h −0.173%

Price spread now: Variational Omni against Kraken Futures−0.085%7-day average −0.086% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.351%−$35 on $10k

Price spread, last 3 days (all we have)−0.005%−$1 · spread now −0.085%, 7d avg −0.086%

Together, before fees−0.356%+ Points / potential airdropVariational Omni: Active · farm board−$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.086%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.351%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONDOUSD	0.4567	−0.0352	get 0.0044% / 1h	5m 13s	$2.8M	$7.8M	50x
Short	Variational Omni ONDO	0.4563	0.0100	get 0.0050% / 4h	1h 05m	$785K	$2.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.085%Rate

Funding earned: $94.92
Price spread: −0.085% → −0.086%: $0.19
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $85.11
Costs to cover: 0.100%
Break-even: 0.7 days

Slippage unknown: Kraken Futures: 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 Kraken Futures live order book, 4 min ago	5.47 bp	16.6 bp −$17	24.1 bp −$241	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.39 bp	doesn't fit	11.0 bp −$110	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_ONDOUSDlong	−0.0352%	1h	0.4567	long leg	$2.8M	$7.8M	50x
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4566	−0.013%	$6K	—	150x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4567	+0.006%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4568	+0.033%	$430K	$707K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4571	+0.093%	$717K	$2.1M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4570	+0.062%	$67.9M	$226.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4568	+0.027%	$74.0M	$122.2M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4567	+0.006%	$17.8M	$81.5M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4571	+0.089%	$74K	$88K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4571	+0.091%	—	—	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	0.4567	+0.006%	$12.0M	$18.7M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4571	+0.093%	$49.1M	$44.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4570	+0.071%	$13.8M	$11.0M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4569	+0.049%	$25.9M	$41.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4568	+0.027%	—	$743K	—	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4563	−0.085%	$785K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4561	−0.119%	$5K	$319K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4572	+0.116%	$422K	$947K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4561	−0.126%	$163K	$318K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4572	+0.115%	$69K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4571	+0.093%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4569	+0.049%	$475	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4578	+0.246%	$133K	$505K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4570	+0.071%	$4.7M	$6.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4569	+0.045%	$7K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4568	+0.036%	$409K	$855K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4570	+0.060%	$44K	$8K	3x	as long as short
Phoenix ONDO	+0.0142%	1h	0.4576	+0.198%	$38K	$219K	10x	as long as short
Backpack ONDO_USDC_PERP	+0.0145%	1h	0.4566	−0.012%	$230K	$1.0M	15x	as long as short
Injective ONDO/USDC PERP	+0.0151%	1h	0.4568	+0.027%	$888	$216K	5.5x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4595	+0.619%	$301K	$862K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4570	+0.071%	$3.3M	$3.2M	75x	as long as short
Hyperliquid ONDO	+0.0373%	1h	0.4574	+0.168%	$40.6M	$26.8M	10x	as long as short
01 Exchange ONDOUSD	+0.0392%	1h	0.4576	+0.209%	$377	$2K	10x	as long as short
Deribit ONDO_USDC-PERPETUAL	+0.0407%	1h	0.4570	+0.071%	$31K	$431K	25x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0609% / S −0.0197%	1h	0.4569	+0.052%	$560K	—	100x	as long as short
Lighter ONDO	+0.0720%	1h	0.4577	+0.229%	$1.5M	$2.3M	10x	as long as short
Reya ONDORUSDPERP	+0.1142%	1h	0.4570	+0.073%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.5736%	1h	0.4563	−0.073%	$258K	$129K	5x	as long as short