Funding arb · Price arb /

ONG

all ONG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.069%

Price spread now: Gate against Bitget+0.033%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1431.432% of the position

Long on Bitget Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now +0.033%, 7d avg +0.058%

Together, before fees+0.220%+$22 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.025% cheaper against Bitget than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.058%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget ONGUSDT	0.09052	0.0100	pay 0.0050% / 4h	3h 09m	$1.4M	$1.3M	50x
Short	Gate ONG_USDT	0.09055	0.0100	get 0.0050% / 4h	3h 09m	$358K	$362K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bitget. 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

Position, each leg$Hold fordaysFee BitgetbpFee GatebpOrdersPrice spread, now +0.033%Rate

Funding earned: $0
Price spread: +0.033% → +0.058%: −$2.47
Slippage, 4 orders: −$116.16
Fee Bitget: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$145.63
Costs to cover: 1.432%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Gate: live order book, 41 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 Bitget live order book, 2 min ago	3.32 bp	23.0 bp −$23	90.5 bp −$905	doesn't fit	doesn't fit
Sell Gate live order book, 41 min ago	7.09 bp	50.9 bp −$51	doesn't fit	doesn't fit	doesn't fit

ONG on 10 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
HTX ONG-USDT	−0.1327%	4h	0.09021	−0.342%	$28K	$35K	20x	as long as short
Extended ONG-USD	−0.0120%	1h	0.09043	−0.095%	$170K	$20K	5x	as long as short
Binance ONGUSDT	−0.0118%	4h	0.09047	−0.050%	$6.4M	$15.4M	50x	as long as short
MEXC ONG_USDT	−0.0116%	4h	0.09052	0.000%	$9.9M	$419K	20x	as long as short
Variational Omni ONG	−0.0011%	4h	0.09043	−0.101%	$132K	$42K	—	as long as short
Aster ONGUSDT	+0.0045%	1h	0.09053	+0.013%	$72K	$54K	5x	as long as short
Bybit ONGUSDT	+0.0100%	4h	0.09051	−0.011%	$2.4M	$3.0M	20x	as long as short
Gate ONG_USDTshort	+0.0100%	4h	0.09055	+0.033%	$358K	$362K	20x
Bitget ONGUSDTlong	+0.0100%	4h	0.09052	long leg	$1.4M	$1.3M	50x
BingX ONG-USDT	+0.0100%	4h	0.09054	+0.022%	—	$1.4M	—	as long as short