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 0.000%

Price spread now: edgeX against Variational Omni+0.212%89s7-day average +0.007% · you sell dearer than you buy

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

Long on Variational Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 3 days (all we have)−0.154%−$15 · spread now +0.212%, 7d avg +0.007%

Together, before fees−0.134%+ Points / potential airdropVariational Omni: Active · edgeX: Active · farm board−$13 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: edgeX is 0.205% dearer against Variational Omni than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.007%. The two prices were read 89 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4506	0.0100	pay 0.0050% / 4h	2h 06m	$790K	$2.0M	—
Short	edgeX ONDOUSDC	0.4516	0.0100	get 0.0050% / 4h	2h 06m	$5K	$318K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.212%Rate

Funding earned: $0
Price spread: +0.212% → +0.007%: $20.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $11.49
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; edgeX: live order book, 17 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, 3 min ago	5.53 bp	doesn't fit	21.0 bp −$210	doesn't fit	doesn't fit
Sell edgeX live order book, 17 min ago	4.42 bp	8.9 bp −$9	15.3 bp −$153	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	−0.1131%	1h	0.4496	−0.240%	$2.8M	$8.0M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4500	−0.142%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4497	−0.204%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4517	+0.240%	$29K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	+0.346%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0098%	4h	0.4497	−0.208%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4498	−0.181%	$422K	$681K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4498	−0.186%	$757K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4498	−0.190%	$66.2M	$220.4M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4496	−0.231%	$72.8M	$118.1M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4496	−0.231%	$17.6M	$79.7M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4520	+0.300%	$72K	$84K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4498	−0.180%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4496	−0.231%	$11.7M	$18.8M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4498	−0.186%	$47.1M	$45.7M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4497	−0.208%	$13.4M	$10.8M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4497	−0.208%	$25.4M	$41.3M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4497	−0.208%	—	$744K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4500	−0.148%	$194K	$973K	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4506	long leg	$790K	$2.0M	—
edgeX ONDOUSDCshort	+0.0100%	4h	0.4516	+0.212%	$5K	$318K	20x
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4514	+0.176%	$426K	$937K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4518	+0.258%	$159K	$332K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4498	−0.193%	$81K	$1.1M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4497	−0.208%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4498	−0.186%	$468	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4506	−0.009%	$129K	$519K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4499	−0.164%	$4.7M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4496	−0.220%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4497	−0.204%	$401K	$917K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4500	−0.148%	$35K	—	3x	as long as short
Hyperliquid ONDO	+0.0284%	1h	0.4502	−0.092%	$40.2M	$27.6M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4501	−0.120%	$297K	$840K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4512	+0.125%	$3.2M	$3.1M	75x	as long as short
01 Exchange ONDOUSD	+0.0384%	1h	0.4502	−0.102%	$370	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4506	−0.006%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0589% / S −0.0191%	1h	0.4497	−0.213%	$541K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4497	−0.209%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9303%	1h	0.4499	−0.164%	$255K	$129K	5x	as long as short