Why does the measured ORP vary so much in aquaria? Does that imply that the concentration of oxygen is varying by huge amounts as ORP rises and falls? Those are very deep questions into the nature of ORP in aquaria. The answer boils down to the fact that
ORP is not at equilibrium in aquaria. There are oxidizers (such as O
2) and reducers (such as organics) present together. That alone tells us that the system is not at equilibrium. So we cannot assume that any equilibrium relationships between the concentrations of these species and ORP will necessarily hold true.