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Price arb /

ONDO

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Spread before costs (cost unknown: a leg has no order-book sample)−0.147%
7d average−0.082%if it closes, per $10,000$15funding while held, a day−$6.18
Long on PhoenixShort on Variational Omni
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix ONDO0.44600.0162pay 0.0020% / 1h19m 53s$28K$244K10x
ShortVariational Omni ONDO0.4454−0.0044pay 0.0022% / 4h3h 19m$867K$2.1M—

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$14.67
Funding while held
−$6.18
Slippage, 4 orders
no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Variational Omni: 0 bp × 2 orders
$0
Net
−$27.85
Spread needed to break even
0.070%
Slippage unknown: Phoenix: live order book, 14 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0206%
Per $10,000 a day
−$6.18
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 14 min ago0.89 bp12.6 bp −$1351.2 bp −$512doesn't fitdoesn't fit
Sell Variational Omni RFQ quote, 1 min ago4.50 bpdoesn't fit13.5 bp −$135doesn't fitdoesn't fit

ONDO price on every exchange

against the cheapest. Click to use as the short leg.
Bybit0.4428cheapestKuCoin0.4430+0.045%Extended0.4431+0.060%OKX0.4431+0.068%Binance0.4432+0.090%MEXC0.4432+0.090%Bitget0.4432+0.090%BingX0.4432+0.090%Gate0.4433+0.113%Reya0.4434+0.131%Nado0.4434+0.141%GMX0.4435+0.148%Orderly0.4435+0.158%SunX0.4435+0.158%RISEx0.4435+0.161%gTrade (Gains Network)0.4435+0.162%Backpack0.4436+0.172%SoDEX0.4436+0.181%Phemex0.4436+0.181%Polymarket Perps0.4436+0.187%Aster0.4437+0.204%Aevo0.4438+0.226%Deribit0.4438+0.226%01 Exchange0.4439+0.237%Paradex0.4439+0.238%Hyperliquid0.4439+0.251%Kraken Futures0.4443+0.344%Lighter0.4444+0.350%HTX0.4444+0.361%Injective0.4445+0.384%dYdX0.4447+0.431%Coinbase International0.4451+0.519%BloFin0.4453+0.565%
Variational Omni0.4454+0.579%
Phoenix0.4460+0.727%
Ondo Perps0.4466+0.865%edgeX0.4468+0.911%ApeX Omni0.4473+1.016%

ONDO on 38 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bybit ONDOUSDT−0.722%−0.0208%4h$69.4M$117.6M50xas long as short
KuCoin ONDOUSDTM−0.677%+0.0100%4h$13.6M$10.3M50xas long as short
Extended ONDO-USD−0.662%+0.0104%1h$374K$1.1M25xas long as short
OKX ONDO-USDT-SWAP−0.655%+0.0100%4h$17.7M$83.1M50xas long as short
Binance ONDOUSDT−0.632%+0.0100%4h$67.5M$229.3M75xas long as short
MEXC ONDO_USDT−0.632%+0.0100%4h$47.5M$47.5M200xas long as short
Bitget ONDOUSDT−0.632%+0.0100%4h$25.0M$44.2M50xas long as short
BingX ONDO-USDT−0.632%+0.0100%4h—$23.5M—as long as short
Gate ONDO_USDT−0.610%+0.0100%4h$11.7M$19.1M50xas long as short
Reya ONDORUSDPERP−0.591%+0.1128%1h$2K—20xas long as short
Show all 38 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Nado ONDO-PERP−0.582%+0.0100%1h$465K$629K10xas long as short
GMX ONDO/USD [ETH-USDC]−0.575%L +0.0577% / S −0.0197%1h$514K—100xas long as short
Orderly PERP_ONDO_USDC−0.565%+0.0094%4h$24K$8K10xas long as short
SunX ONDO-USDT−0.565%+0.0100%4h—$1.4M20xas long as short
RISEx ONDO/USDC−0.562%+0.0100%1h——5xas long as short
gTrade (Gains Network) ONDO/USD−0.561%L +0.0003% / S −0.0010%1h$9K—150xas long as short
Backpack ONDO_USDC_PERP−0.552%+0.0100%1h$235K$866K15xas long as short
SoDEX ONDO-USD−0.543%+0.0100%1h$461$15K10xas long as short
Phemex ONDOUSDT−0.543%+0.0100%4h$4.9M$5.4M50xas long as short
Polymarket Perps ONDO-USD−0.536%+0.0100%1h$82K$1.0M10xas long as short
Aster ONDOUSDT−0.519%+0.0100%4h$741K$1.9M20xas long as short
Aevo ONDO-PERP−0.498%+0.0104%1h$35K—3xas long as short
Deribit ONDO_USDC-PERPETUAL−0.498%+0.0426%1h$19K$338K25xas long as short
01 Exchange ONDOUSD−0.487%+0.0256%1h$365$1K10xas long as short
Paradex ONDO-USD-PERP−0.486%+0.0100%8h$6K$910xas long as short
Hyperliquid ONDO−0.473%+0.0129%1h$40.4M$27.4M10xas long as short
Kraken Futures PF_ONDOUSD−0.381%+0.1039%1h$3.5M$5.2M50xas long as short
Lighter ONDO−0.374%+0.0464%1h$1.2M$2.0M10xas long as short
HTX ONDO-USDT−0.363%+0.0100%4h$108K$552K50xas long as short
Injective ONDO/USDC PERP−0.341%+0.1162%1h$1K$85K5.5xas long as short
dYdX ONDO-USD−0.294%+0.6701%1h$247K$106K5xas long as short
Coinbase International ONDO-PERP-INTX−0.206%+0.0464%1h$351K$827K50xas long as short
BloFin ONDO-USDT−0.161%+0.0340%4h$3.4M$3.4M75xas long as short
Variational Omni ONDOshort−0.147%−0.0044%4h$867K$2.1M—
Phoenix ONDOlong0.000%+0.0162%1h$28K$244K10x
Ondo Perps ONDO-USD.P+0.137%+0.0100%1h$74K$94K10xas long as short
edgeX ONDOUSDC+0.182%+0.0100%4h$5K$319K20xas long as short
ApeX Omni ONDOUSDT+0.287%+0.0100%1h$181K$385K50xas long as short