Funding arb · Price arb /

ONT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0855%/8h= −93.7% APRpaid last 24h −0.083%

Price spread now: MEXC against Kraken Futures−0.123%51s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and MEXC is 0.123% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_ONTUSD	0.05615	0.0955	pay 0.0119% / 1h	53m 27s	$9K	$384	10x
Short	MEXC ONT_USDT	0.05608	0.0100	get 0.0050% / 4h	1h 53m	$1.4M	$150K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now −0.123%Rate

Funding earned: −$179.65
Price spread: −0.123% → 0.000%: −$12.27
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$205.91
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 3 min ago. Net counts fees only.

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 Kraken Futures no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	1.78 bp	10.3 bp −$10	27.6 bp −$276	611.8 bp −$61.2K	doesn't fit

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
OKX ONT-USDT-SWAP	+0.0064%	4h	0.05603	−0.212%	$781K	$912K	20x	as long as short
Aster ONTUSDT	+0.0100%	4h	0.05610	−0.090%	$26K	$537	5x	as long as short
Binance ONTUSDT	+0.0100%	4h	0.05609	−0.113%	$2.4M	$2.7M	50x	as long as short
Gate ONT_USDT	+0.0100%	4h	0.05610	−0.087%	$173K	$59K	50x	as long as short
MEXC ONT_USDTshort	+0.0100%	4h	0.05608	−0.123%	$1.4M	$150K	50x
KuCoin ONTUSDTM	+0.0100%	4h	0.05607	−0.140%	$516K	$38K	30x	as long as short
Bitget ONTUSDT	+0.0100%	4h	0.05609	−0.105%	$822K	$266K	50x	as long as short
Variational Omni ONT	+0.0100%	4h	0.05606	−0.167%	$4K	$3K	—	as long as short
BloFin ONT-USDT	+0.0106%	4h	0.05609	−0.105%	$127K	$15K	50x	as long as short
Bybit ONTUSDT	+0.0342%	4h	0.05602	−0.230%	$796K	$330K	25x	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	+0.0428%	4h	0.05607	−0.140%	—	$2.3M	—	as long as short
Kraken Futures PF_ONTUSDlong	+0.0955%	1h	0.05615	long leg	$9K	$384	10x