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 OKX−0.083%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 OKX 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)+0.296%+$30 · spread now −0.083%, 7d avg +0.009%

Together, before fees+0.276%+ Points / potential airdropVariational Omni: Active · farm board+$28 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 0.092% cheaper against OKX than usual: you would sell low and buy high, −$9 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	OKX ONDO-USDT-SWAP	0.4325	0.0100	pay 0.0050% / 4h	1h 55m	$17.3M	$67.2M	50x
Short	Variational Omni ONDO	0.4321	0.0100	get 0.0050% / 4h	1h 55m	$799K	$1.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against OKX. 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 OKXbpFee Variational OmnibpOrdersPrice spread, now −0.083%Rate

Funding earned: $0
Price spread: −0.083% → +0.009%: −$9.24
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.24
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 min ago; Variational Omni: RFQ quote, 2 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 OKX live order book, 1 min ago	1.16 bp	8.4 bp −$8	18.4 bp −$184	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	5.77 bp	doesn't fit	15.0 bp −$150	doesn't fit	doesn't fit

ONDO on 39 exchanges

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	−0.0325%	1h	0.4325	+0.003%	$2.6M	$7.1M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4327	+0.046%	$21K	$368K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4331	+0.128%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.618%	$888	$215K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4331	+0.150%	$1.1M	$2.3M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4324	−0.023%	$23K	$6K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4326	+0.035%	$337K	$820K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4327	+0.058%	$771K	$2.9M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4325	+0.010%	$63.1M	$222.1M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4322	−0.069%	$67.7M	$116.6M	50x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAPlong	+0.0100%	4h	0.4325	long leg	$17.3M	$67.2M	50x
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4329	+0.090%	$69K	$76K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4326	+0.027%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4324	−0.023%	$13.8M	$13.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4325	0.000%	$46.0M	$39.8M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4326	+0.023%	$13.1M	$9.5M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4326	+0.023%	$25.2M	$33.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4325	0.000%	—	$785K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4326	+0.023%	$179K	$988K	15x	as long as short
Variational Omni ONDOshort	+0.0100%	4h	0.4321	−0.083%	$799K	$1.8M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4331	+0.148%	$5K	$315K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4333	+0.178%	$401K	$1.9M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4336	+0.254%	$134K	$318K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4328	+0.072%	$60K	$1.2M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4326	+0.023%	—	$1.3M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4326	+0.023%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4334	+0.208%	$105K	$478K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4325	0.000%	$4.2M	$8.6M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4326	+0.015%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4326	+0.025%	$355K	$779K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4328	+0.067%	$38K	$13K	3x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0185% / S +0.0250%	1h	0.4325	+0.008%	$364K	—	100x	as long as short
01 Exchange ONDOUSD	+0.0192%	1h	0.4327	+0.039%	$356	$2K	10x	as long as short
Phoenix ONDO	+0.0219%	1h	0.4332	+0.157%	$35K	$208K	10x	as long as short
Hyperliquid ONDO	+0.0271%	1h	0.4329	+0.092%	$36.5M	$26.7M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0280%	1h	0.4353	+0.647%	$214K	$619K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4335	+0.231%	$3.2M	$2.9M	75x	as long as short
Reya ONDORUSDPERP	+0.1166%	1h	0.4324	−0.026%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.4135%	1h	0.4327	+0.043%	$248K	$159K	5x	as long as short