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Funding arb · Price arb /

ONG

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 00:00 UTC+0.0964%/8h= +105.6% APRnext payment +$4.82 per $10,000 · paid last 24h +0.021%
Price spread now: BingX against Gate+0.109%7-day average −0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$117as in the Price arb table
costs, in and out, $10k−$1301.305% of the position
Long on GateShort on BingX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.305%+$30 on $10k
Price spread, last 4 days (all we have)−0.144%−$14 · spread now +0.109%, 7d avg −0.029%
Together, before fees+0.161%+$16 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and BingX is 0.138% dearer against Gate than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.029%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.305% in total (about 15.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$4.82 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGate ONG_USDT0.09174−0.0864get 0.0432% / 4h10m 35s$372K$343K20x
ShortBingX ONG-USDT0.091840.0100get 0.0050% / 4h10m 35s—$1.4M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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

Funding earned
$202.44
Price spread: +0.109% → −0.029%
$13.77
Slippage, 4 orders
−$105.48
Fee Gate: 7.5 bp × 2 orders
−$15
Fee BingX: 5 bp × 2 orders
−$10
Net
$85.73
Costs to cover
1.305%
Break-even
4.0 days
Slippage from Gate: live order book, 65 min ago; BingX: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Gate live order book, 65 min ago9.30 bp49.3 bp −$49doesn't fitdoesn't fitdoesn't fit
Sell BingX live order book, 6 min ago4.89 bp14.9 bp −$1537.7 bp −$377224.8 bp −$22.5K449.7 bp −$224.9K

ONG on 10 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX ONG-USDT−0.3478%4h0.09161−0.142%$29K$70K20xas long as short
Binance ONGUSDT−0.1131%4h0.091740.000%$6.9M$15.6M50xas long as short
MEXC ONG_USDT−0.1130%4h0.09172−0.022%$9.9M$378K20xas long as short
Extended ONG-USD−0.1128%1h0.09172−0.020%$174K$18K5xas long as short
Gate ONG_USDTlong−0.0864%4h0.09174long leg$372K$343K20x
Aster ONGUSDT−0.0824%1h0.09194+0.219%$83K$100K5xas long as short
Bitget ONGUSDT−0.0800%4h0.091740.000%$1.4M$1.2M50xas long as short
Variational Omni ONG+0.0090%4h0.09174+0.002%$152K$25K—as long as short
Bybit ONGUSDT+0.0100%4h0.09193+0.207%$2.6M$3.1M20xas long as short
BingX ONG-USDTshort+0.0100%4h0.09184+0.109%—$1.4M—