Funding arb · Price arb /

ONT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.2043%/8hnext payment +$10.22 per $10,000 · paid last 24h +0.315%

Price spread now: Bybit against Binance−0.269%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1191.189% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 3 days (all we have)+0.347%+$35 · spread now −0.269%, 7d avg +0.011%

Together, before fees+0.568%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.280% cheaper against Binance than usual: you would sell low and buy high (spread −0.269% now, against its 7-day average of +0.011%). If the spread goes back, that is −$28 on $10k: about 11 hours of funding at the current rate (+$61 a day). At the pace of the last 7 days (+0.221% in total) that is about 8.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.221% in total (about 11.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$10.22 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance ONTUSDT	0.05579	0.0100	pay 0.0050% / 4h	7m 12s	$2.4M	$2.6M	50x
Short	Bybit ONTUSDT	0.05564	0.2143	get 0.1072% / 4h	7m 12s	$815K	$307K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BinancebpFee BybitbpOrdersPrice spread, now −0.269%Rate

Funding earned: $429.11
Price spread: −0.269% → +0.011%: −$27.96
Slippage, 4 orders: −$97.94
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $282.2
Costs to cover: 1.189%
Break-even: 2.4 days

Slippage from Binance: live order book, 3 min ago; Bybit: live order book, 22 min ago.

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 Binance live order book, 3 min ago	0.90 bp	15.5 bp −$15	74.3 bp −$743	8555.6 bp −$855.6K	doesn't fit
Sell Bybit live order book, 22 min ago	3.60 bp	43.8 bp −$44	doesn't fit	doesn't fit	doesn't fit

ONT on 12 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
Aster ONTUSDT	+0.0100%	4h	0.05582	+0.047%	$26K	$388	5x	as long as short
Binance ONTUSDTlong	+0.0100%	4h	0.05579	long leg	$2.4M	$2.6M	50x
OKX ONT-USDT-SWAP	+0.0100%	4h	0.05576	−0.054%	$803K	$863K	20x	as long as short
Gate ONT_USDT	+0.0100%	4h	0.05579	0.000%	$171K	$62K	50x	as long as short
MEXC ONT_USDT	+0.0100%	4h	0.05579	0.000%	$1.4M	$143K	50x	as long as short
KuCoin ONTUSDTM	+0.0100%	4h	0.05575	−0.072%	$521K	$53K	30x	as long as short
Bitget ONTUSDT	+0.0100%	4h	0.05576	−0.054%	$802K	$321K	50x	as long as short
BloFin ONT-USDT	+0.0149%	4h	0.05578	−0.018%	$134K	$25K	50x	as long as short
Kraken Futures PF_ONTUSD	+0.0392%	1h	0.05580	+0.018%	$9K	$231	10x	as long as short
Variational Omni ONT	+0.1815%	4h	0.05559	−0.350%	$4K	$3K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX ONT-USDT	+0.2028%	4h	0.05577	−0.036%	—	$2.3M	—	as long as short
Bybit ONTUSDTshort	+0.2143%	4h	0.05564	−0.269%	$815K	$307K	25x