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Price arb /

ONDO

all ONDO markets
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Spread before costs (cost unknown: a leg has no order-book sample)+0.079%
7d average+0.081%if it closes, per $10,000$8funding while held, a day−$1.93
Long on Variational OmniShort on Phoenix
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni ONDO0.44390.0100pay 0.0050% / 4h9m 13s$901K$2.0M—
ShortPhoenix ONDO0.44430.0036get 0.0004% / 1h9m 13s$28K$224K10x

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
$7.88
Funding while held
−$1.93
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$1.04
Spread needed to break even
0.070%
Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phoenix: live order book, 30 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0064%
Per $10,000 a day
−$1.93
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 Variational Omni RFQ quote, 1 min ago5.63 bpdoesn't fit10.1 bp −$101doesn't fitdoesn't fit
Sell Phoenix live order book, 30 min ago0.91 bp12.7 bp −$1343.9 bp −$439doesn't fitdoesn't fit

ONDO price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.4419cheapest
Variational Omni0.4439+0.459%
Backpack0.4440+0.477%dYdX0.4440+0.478%Paradex0.4441+0.498%SoDEX0.4441+0.498%KuCoin0.4442+0.520%01 Exchange0.4442+0.532%
Phoenix0.4443+0.539%
Phemex0.4443+0.543%RISEx0.4444+0.556%Nado0.4444+0.560%Bybit0.4444+0.566%OKX0.4444+0.566%ApeX Omni0.4444+0.566%BloFin0.4444+0.566%Extended0.4445+0.588%Gate0.4445+0.588%Bitget0.4445+0.588%BingX0.4445+0.588%Orderly0.4445+0.588%edgeX0.4445+0.591%Reya0.4446+0.617%GMX0.4446+0.618%gTrade (Gains Network)0.4446+0.620%Hyperliquid0.4447+0.627%Polymarket Perps0.4447+0.631%Ondo Perps0.4447+0.634%SunX0.4447+0.634%Aevo0.4447+0.640%Binance0.4448+0.656%MEXC0.4448+0.656%Deribit0.4448+0.656%HTX0.4448+0.656%Aster0.4448+0.662%Coinbase International0.4449+0.679%Kraken Futures0.4453+0.770%Lighter0.4455+0.810%

ONDO on 38 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective ONDO/USDC PERP−0.457%+0.0015%1h$995$134K5.5xas long as short
Variational Omni ONDOlong0.000%+0.0100%4h$901K$2.0M—
Backpack ONDO_USDC_PERP+0.018%+0.0100%1h$244K$852K15xas long as short
dYdX ONDO-USD+0.018%+0.8643%1h$246K$100K5xas long as short
Paradex ONDO-USD-PERP+0.038%+0.0100%8h$6K$910xas long as short
SoDEX ONDO-USD+0.038%+0.0100%1h$462$15K10xas long as short
KuCoin ONDOUSDTM+0.061%+0.0100%4h$13.6M$10.6M50xas long as short
01 Exchange ONDOUSD+0.072%+0.0344%1h$366$1K10xas long as short
Phoenix ONDOshort+0.079%+0.0036%1h$28K$224K10x
Phemex ONDOUSDT+0.083%+0.0100%4h$5.0M$5.3M50xas long as short
Show all 38 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
RISEx ONDO/USDC+0.096%+0.0100%1h——5xas long as short
Nado ONDO-PERP+0.100%+0.0100%1h$430K$568K10xas long as short
Bybit ONDOUSDT+0.106%+0.0100%4h$69.7M$118.9M50xas long as short
OKX ONDO-USDT-SWAP+0.106%+0.0100%4h$18.2M$83.1M50xas long as short
ApeX Omni ONDOUSDT+0.106%+0.0100%1h$180K$372K50xas long as short
BloFin ONDO-USDT+0.106%+0.0340%4h$3.4M$3.4M75xas long as short
Extended ONDO-USD+0.128%+0.0104%1h$375K$1.1M25xas long as short
Gate ONDO_USDT+0.128%+0.0042%4h$11.7M$20.2M50xas long as short
Bitget ONDOUSDT+0.128%+0.0100%4h$25.2M$44.4M50xas long as short
BingX ONDO-USDT+0.128%+0.0100%4h—$23.7M—as long as short
Orderly PERP_ONDO_USDC+0.128%+0.0093%4h$24K$9K10xas long as short
edgeX ONDOUSDC+0.131%+0.0100%4h$5K$317K20xas long as short
Reya ONDORUSDPERP+0.157%+0.1126%1h$2K—20xas long as short
GMX ONDO/USD [ETH-USDC]+0.158%L +0.0563% / S −0.0189%1h$505K—100xas long as short
gTrade (Gains Network) ONDO/USD+0.160%L +0.0003% / S −0.0007%1h$7K—150xas long as short
Hyperliquid ONDO+0.167%+0.0249%1h$40.4M$29.2M10xas long as short
Polymarket Perps ONDO-USD+0.171%+0.0100%1h$80K$1.0M10xas long as short
Ondo Perps ONDO-USD.P+0.173%+0.0100%1h$74K$93K10xas long as short
SunX ONDO-USDT+0.173%+0.0100%4h—$1.4M20xas long as short
Aevo ONDO-PERP+0.180%+0.0104%1h$35K—3xas long as short
Binance ONDOUSDT+0.196%+0.0100%4h$67.1M$229.0M75xas long as short
MEXC ONDO_USDT+0.196%+0.0100%4h$48.0M$46.8M200xas long as short
Deribit ONDO_USDC-PERPETUAL+0.196%+0.0200%1h$36K$238K25xas long as short
HTX ONDO-USDT+0.196%+0.0100%4h$130K$540K50xas long as short
Aster ONDOUSDT+0.201%+0.0100%4h$708K$1.7M20xas long as short
Coinbase International ONDO-PERP-INTX+0.218%+0.0448%1h$346K$816K50xas long as short
Kraken Futures PF_ONDOUSD+0.309%+0.0827%1h$3.5M$5.0M50xas long as short
Lighter ONDO+0.349%+0.0632%1h$1.2M$2.0M10xas long as short