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 $0.001786 and the highest bid on Binance spot at $0.002169.
The widest ONE perpetual spread is between Gate and Bitget: long ONE on Gate at $0.001999 and short on Bitget at $0.002158 for +7.97% gross, or +7.81% 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 +0.030% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ONE route is to buy spot on Gate and short the perpetual on Gate: +6.46% gross, +6.26% net, with -0.304% a day of funding on the short leg.
Spot–spot ONE arbitrage (buy on Gate, withdraw, deposit and sell on OKX) shows +6.30% 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.