ONT arbitrage explained
Right now Ontology (ONT) trades on 9 venues we scan: 9 perpetual markets, 6 spot markets and 0 DEX pools. The lowest ask is on Bitget perp at $0.0576 and the highest bid on Variational perp at $0.0578.
The widest ONT perpetual spread is between Bitget and Variational: long ONT on Bitget at $0.0576 and short on Variational at $0.0578 for +0.40% gross, or +0.24% 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 +0.050% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ONT route is to buy spot on Binance and short the perpetual on Variational: +0.26% gross, +0.06% net, with -0.043% a day of funding on the short leg.
Spot–spot ONT arbitrage (buy on Binance, withdraw, deposit and sell on OKX) shows -0.02% 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 ONT 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: ONT funding rates · ONT spread charts · Ontology price · arbitrage scanner for all coins.