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 −0.003%

Price spread now: Gate against Variational Omni−0.338%7-day average −0.028% · you buy dearer than you sell

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.134%+$13 · spread now −0.338%, 7d avg −0.028%

Together, before fees+0.151%+ Points / potential airdropVariational Omni: Active · farm board+$15 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: Gate is 0.310% cheaper against Variational Omni than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni ONDO	0.4536	0.0100	pay 0.0050% / 4h	2h 24m	$785K	$2.0M	—
Short	Gate ONDO_USDT	0.4521	0.0100	get 0.0050% / 4h	2h 24m	$11.8M	$18.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. 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 Variational OmnibpFee GatebpOrdersPrice spread, now −0.338%Rate

Funding earned: $0
Price spread: −0.338% → −0.028%: −$31.03
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$46.03
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Gate: live order book, 5 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	4.42 bp	doesn't fit	19.9 bp −$199	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	1.11 bp	18.6 bp −$19	32.0 bp −$320	43.5 bp −$4,352	73.7 bp −$36.9K

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	−0.1125%	1h	0.4519	−0.384%	$3.0M	$7.7M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4523	−0.294%	$19K	$364K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0008%	1h	0.4522	−0.305%	$6K	—	150x	as long as short
Phoenix ONDO	+0.0018%	1h	0.4529	−0.160%	$30K	$222K	10x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4522	−0.316%	$1K	$132K	5.5x	as long as short
Orderly PERP_ONDO_USDC	+0.0099%	4h	0.4521	−0.338%	$25K	$8K	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4523	−0.289%	$426K	$678K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4522	−0.308%	$765K	$2.0M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4521	−0.330%	$66.7M	$220.3M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4521	−0.338%	$73.4M	$118.0M	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	0.4521	−0.338%	$17.7M	$80.0M	50x	as long as short
Ondo Perps ONDO-USD.P	+0.0100%	1h	0.4534	−0.043%	$72K	$85K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4523	−0.296%	—	—	5x	as long as short
Gate ONDO_USDTshort	+0.0100%	4h	0.4521	−0.338%	$11.8M	$18.7M	50x
MEXC ONDO_USDT	+0.0100%	4h	0.4521	−0.338%	$47.7M	$45.5M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4521	−0.338%	$13.5M	$10.7M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4521	−0.338%	$25.6M	$41.2M	50x	as long as short
BingX ONDO-USDC	+0.0100%	4h	0.4521	−0.338%	—	$746K	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4523	−0.287%	$193K	$971K	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4536	long leg	$785K	$2.0M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4528	−0.182%	$5K	$317K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4529	−0.163%	$428K	$948K	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4532	−0.096%	$160K	$331K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4522	−0.305%	$80K	$1.0M	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4523	−0.294%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4521	−0.338%	$470	$14K	10x	as long as short
HTX ONDO-USDT	+0.0100%	4h	0.4531	−0.118%	$128K	$515K	50x	as long as short
Phemex ONDOUSDT	+0.0100%	4h	0.4522	−0.316%	$4.8M	$6.3M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0100%	8h	0.4522	−0.314%	$6K	$9	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4521	−0.337%	$403K	$980K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4523	−0.294%	$36K	—	3x	as long as short
Hyperliquid ONDO	+0.0250%	1h	0.4523	−0.285%	$40.4M	$27.8M	10x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0328%	1h	0.4539	+0.059%	$305K	$842K	50x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4525	−0.250%	$3.2M	$3.0M	75x	as long as short
01 Exchange ONDOUSD	+0.0408%	1h	0.4527	−0.215%	$373	$2K	10x	as long as short
Lighter ONDO	+0.0544%	1h	0.4529	−0.162%	$1.4M	$2.2M	10x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0616% / S −0.0203%	1h	0.4521	−0.331%	$562K	—	100x	as long as short
Reya ONDORUSDPERP	+0.1139%	1h	0.4521	−0.330%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.9739%	1h	0.4524	−0.263%	$256K	$123K	5x	as long as short