Funding arb · Price arb /

ONG

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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 +0.301%

Price spread now: Bybit against Gate+0.044%7-day average +0.328% · you sell dearer than you buy

Net, funding: paid 7d − costs−$213as in the Funding arb table

Net, price: spread back to 7d avg − costs−$233as in the Price arb table

costs, in and out, $10k−$2052.048% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)−0.044%−$4 · spread now +0.044%, 7d avg +0.328%

Together, before fees−0.126%−$13 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: Bybit is 0.283% cheaper against Gate than usual: you would sell low and buy high, −$28 on $10k if it goes back to its 7-day average of +0.328%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate ONG_USDT	0.09052	0.0100	pay 0.0050% / 4h	1h 35m	$350K	$368K	20x
Short	Bybit ONGUSDT	0.09056	0.0100	get 0.0050% / 4h	1h 35m	$2.4M	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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

Position, each leg$Hold fordaysFee GatebpFee BybitbpOrdersPrice spread, now +0.044%Rate

Funding earned: $0
Price spread: +0.044% → +0.328%: −$28.34
Slippage, 4 orders: −$178.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$233.14
Costs to cover: 2.048%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Bybit: live order book, 2 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 Gate live order book, 5 min ago	2.21 bp	46.3 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.21 bp	51.5 bp −$52	461.3 bp −$4,613	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	−0.1168%	4h	0.09012	−0.442%	$28K	$38K	20x	as long as short
MEXC ONG_USDT	−0.0004%	4h	0.09056	+0.044%	$9.9M	$414K	20x	as long as short
Binance ONGUSDT	−0.0003%	4h	0.09055	+0.035%	$6.3M	$15.9M	50x	as long as short
Extended ONG-USD	0.0000%	1h	0.09052	−0.004%	$170K	$20K	5x	as long as short
Aster ONGUSDT	+0.0100%	1h	0.09062	+0.107%	$69K	$54K	5x	as long as short
Bybit ONGUSDTshort	+0.0100%	4h	0.09056	+0.044%	$2.4M	$3.0M	20x
Gate ONG_USDTlong	+0.0100%	4h	0.09052	long leg	$350K	$368K	20x
Bitget ONGUSDT	+0.0100%	4h	0.09059	+0.077%	$1.4M	$1.3M	50x	as long as short
BingX ONG-USDT	+0.0100%	4h	0.09052	0.000%	—	$1.5M	—	as long as short
Variational Omni ONG	+0.0100%	4h	0.09057	+0.054%	$131K	$43K	—	as long as short