ONE arbitrage explained
Right now ONEchain (ONE) trades on 8 venues we scan: 8 perpetual markets, 5 spot markets and 0 DEX pools. The lowest ask is on KuCoin spot at $0.00184 and the highest bid on Binance spot at $0.002163.
The widest ONE perpetual spread is between OKX and Binance: long ONE on OKX at $0.002023 and short on Binance at $0.002152 for +6.38% gross, or +6.22% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is -0.344% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ONE route is to buy spot on OKX and short the perpetual on Binance: +6.52% gross, +6.32% net, with -0.314% a day of funding on the short leg.
Spot–spot ONE arbitrage (buy on OKX, withdraw, deposit and sell on Binance) shows +7.08% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small ONE gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: ONE funding rates · ONE spread charts · ONEchain price · arbitrage scanner for all coins.