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 $0.0585 and the highest bid on Bybit perp at $0.0586.
The widest ONT perpetual spread is between Bitget and Bybit: long ONT on Bitget at $0.0585 and short on Bybit at $0.0586 for +0.24% gross, or +0.08% 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 -0.122% per day, which the position pays while it is open.
For a spot–perpetual (cash-and-carry) trade, the best ONT route is to buy spot on Gate and short the perpetual on Bybit: +0.14% gross, -0.06% net, with -0.147% a day of funding on the short leg.
Spot–spot ONT arbitrage (buy on Gate, withdraw, deposit and sell on Binance) shows +0.09% 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.