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: HTX against Variational Omni−0.064%57s7-day average +0.164% · you buy dearer than you sell

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

Long on Variational Omni Short on HTX

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)−0.031%−$3 · spread now −0.064%, 7d avg +0.164%

Together, before fees−0.010%+ Points / potential airdropVariational Omni: Active · farm board−$1 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: HTX is 0.228% cheaper against Variational Omni than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.164%. The two prices were read 57 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	0.4339	0.0100	pay 0.0050% / 4h	3h 42m	$682K	$1.8M	—
Short	HTX ONDO-USDT	0.4336	0.0100	get 0.0050% / 4h	3h 42m	$129K	$369K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0
Price spread: −0.064% → +0.164%: −$22.79
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$34.79
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; HTX: live order book, 56 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, 2 min ago	4.61 bp	doesn't fit	11.5 bp −$115	doesn't fit	doesn't fit
Sell HTX live order book, 56 min ago	17.31 bp	23.3 bp −$23	doesn't fit	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	0.4327	−0.281%	$2.5M	$7.8M	50x	as long as short
Deribit ONDO_USDC-PERPETUAL	0.0000%	1h	0.4327	−0.272%	$18K	$351K	25x	as long as short
gTrade (Gains Network) ONDO/USD	L +0.0003% / S −0.0011%	1h	0.4332	−0.154%	$7K	—	150x	as long as short
Injective ONDO/USDC PERP	+0.0033%	1h	0.4568	+5.283%	$888	$216K	5.5x	as long as short
Lighter ONDO	+0.0096%	1h	0.4336	−0.064%	$1.1M	$2.3M	10x	as long as short
Nado ONDO-PERP	+0.0100%	1h	0.4334	−0.110%	$346K	$885K	10x	as long as short
Aster ONDOUSDT	+0.0100%	4h	0.4337	−0.050%	$760K	$2.8M	20x	as long as short
Binance ONDOUSDT	+0.0100%	4h	0.4334	−0.107%	$63.3M	$233.2M	75x	as long as short
Bybit ONDOUSDT	+0.0100%	4h	0.4331	−0.179%	$68.3M	$121.7M	50x	as long as short
OKX ONDO-USDT-SWAP	+0.0100%	4h	0.4333	−0.133%	$17.3M	$71.9M	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	0.4327	−0.272%	$71K	$80K	10x	as long as short
RISEx ONDO/USDC	+0.0100%	1h	0.4335	−0.086%	—	—	5x	as long as short
Gate ONDO_USDT	+0.0100%	4h	0.4334	−0.110%	$13.2M	$15.0M	50x	as long as short
MEXC ONDO_USDT	+0.0100%	4h	0.4334	−0.110%	$44.5M	$41.9M	200x	as long as short
KuCoin ONDOUSDTM	+0.0100%	4h	0.4334	−0.110%	$12.1M	$10.4M	50x	as long as short
Bitget ONDOUSDT	+0.0100%	4h	0.4334	−0.110%	$24.9M	$36.5M	50x	as long as short
BingX ONDO-USDT	+0.0100%	4h	0.4335	−0.087%	—	$23.2M	—	as long as short
Backpack ONDO_USDC_PERP	+0.0100%	1h	0.4330	−0.196%	$180K	$1.0M	15x	as long as short
Variational Omni ONDOlong	+0.0100%	4h	0.4339	long leg	$682K	$1.8M	—
edgeX ONDOUSDC	+0.0100%	4h	0.4341	+0.042%	$5K	$318K	20x	as long as short
GRVT ONDO_USDT_Perp	+0.0100%	4h	0.4343	+0.095%	$400K	$1.6M	10x	as long as short
ApeX Omni ONDOUSDT	+0.0100%	1h	0.4341	+0.051%	$134K	$339K	50x	as long as short
Polymarket Perps ONDO-USD	+0.0100%	1h	0.4335	−0.076%	$60K	$1.4M	10x	as long as short
Orderly PERP_ONDO_USDC	+0.0100%	4h	0.4332	−0.156%	$23K	$6K	10x	as long as short
SunX ONDO-USDT	+0.0100%	4h	0.4326	−0.295%	—	$1.4M	20x	as long as short
SoDEX ONDO-USD	+0.0100%	1h	0.4327	−0.272%	$2K	$14K	10x	as long as short
HTX ONDO-USDTshort	+0.0100%	4h	0.4336	−0.064%	$129K	$369K	50x
Phemex ONDOUSDT	+0.0100%	4h	0.4328	−0.249%	$4.2M	$9.0M	50x	as long as short
Paradex ONDO-USD-PERP	+0.0102%	8h	0.4332	−0.163%	$6K	—	10x	as long as short
Extended ONDO-USD	+0.0104%	1h	0.4333	−0.136%	$364K	$831K	25x	as long as short
Aevo ONDO-PERP	+0.0104%	1h	0.4335	−0.090%	$38K	$13K	3x	as long as short
Coinbase International ONDO-PERP-INTX	+0.0256%	1h	0.4320	−0.433%	$213K	$729K	50x	as long as short
Phoenix ONDO	+0.0277%	1h	0.4344	+0.127%	$35K	$218K	10x	as long as short
01 Exchange ONDOUSD	+0.0288%	1h	0.4338	−0.016%	$357	$2K	10x	as long as short
BloFin ONDO-USDT	+0.0340%	4h	0.4332	−0.156%	$3.2M	$3.1M	75x	as long as short
GMX ONDO/USD [ETH-USDC]	L +0.0573% / S −0.0203%	1h	0.4333	−0.138%	$496K	—	100x	as long as short
Hyperliquid ONDO	+0.0635%	1h	0.4340	+0.030%	$36.6M	$27.5M	10x	as long as short
Reya ONDORUSDPERP	+0.1162%	1h	0.4336	−0.064%	$2K	—	20x	as long as short
dYdX ONDO-USD	+0.2152%	1h	0.4331	−0.188%	$243K	$155K	5x	as long as short