The second phase of the OneLab project, running for 27 months from September 1st, 2008, has a total cost of 8.9 million euro. Of this, 6.3 million euros are funded by a large-scale Integrating Project (IP) grant from the European Commission's FP7 ICT programme's FIRE initiative. The rest of the budget consists of individual contributions made by each of the project's 26 partners.

The OneLab project's first phase, running for 24 months from September 1st 2006 to August 31st 2008, had a total budget of 2.9 million euro. This budget included a Specific Targeted Research Project (STREP) grant of 1.9 million euro, provided in the framework of the European Commission's FP6 IST programme. The rest of the budget was made up by contributions from the consortium of ten partners.