Funding arb · Price arb /

ONDO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Variational Omni+0.075%7-day average +0.053% · you sell dearer than you buy

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

Long on Variational Omni Short on ApeX 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)+0.074%+$7 · spread now +0.075%, 7d avg +0.053%

Together, before fees+0.094%+ Points / potential airdropVariational Omni: Active · farm board+$9 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: ApeX Omni is 0.021% dearer against Variational Omni than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4310	0.0100	pay 0.0050% / 4h	3h 29m	$678K	$1.8M	—
Short	ApeX Omni ONDOUSDT	0.4313	0.0100	get 0.0013% / 1h	29m 11s	$134K	$339K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now +0.075%Rate

Funding earned: $0
Price spread: +0.075% → +0.053%: $2.13
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$7.87
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; ApeX Omni: live order book, 3 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 Variational Omni RFQ quote, 5 min ago	4.62 bp	doesn't fit	13.9 bp −$139	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 3 min ago	4.64 bp	13.2 bp −$13	31.0 bp −$310	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	−0.0177%	1h	0.4311	+0.032%	$2.5M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4309	−0.018%	$28K	$362K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4306	−0.089%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.991%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4312	+0.051%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4306	−0.076%	$342K	$889K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4310	+0.009%	$759K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4309	−0.018%	$62.9M	$233.5M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4307	−0.065%	$67.5M	$122.1M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4309	−0.018%	$17.2M	$71.1M	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	0.4318	+0.181%	$71K	$79K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4303	−0.155%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4306	−0.088%	$13.2M	$15.1M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4308	−0.042%	$43.8M	$42.1M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4307	−0.065%	$12.1M	$10.3M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4307	−0.065%	$24.9M	$36.5M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4308	−0.042%	—	$782K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4308	−0.039%	$178K	$1.0M	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4310	long leg	$678K	$1.8M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4313	+0.075%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4310	+0.006%	$404K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDTshort	+0.0100%	1h	0.4313	+0.075%	$134K	$339K	50x
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4305	−0.111%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4308	−0.042%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4309	−0.018%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4309	−0.018%	$2K	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4314	+0.098%	$128K	$369K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4309	−0.018%	$4.2M	$9.1M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0101%	8h	0.4306	−0.093%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4308	−0.044%	$359K	$824K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4310	+0.012%	$37K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4340	+0.701%	$214K	$719K	50x	as long as short
01 Exchange ONDOUSD	+0.0272%	1h	0.4307	−0.072%	$354	$2K	10x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4313	+0.063%	$35K	$218K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4312	+0.051%	$3.2M	$3.1M	75x	as long as short
Hyperliquid ONDO	+0.0529%	1h	0.4310	+0.012%	$36.2M	$27.7M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0581% / S −0.0208%	1h	0.4307	−0.071%	$498K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4308	−0.047%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.3612%	1h	0.4306	−0.088%	$246K	$159K	5x	as long as short