ON funding rates and arbitrage
Updated 2026-11-11 22:54 UTC
Best ON arbitrage after every cost
No ON pair nets a profit at this size right now.
At $10,000 per side, held 7 days, after taker fees, order-book slippage and carry.
ON funding rate on every exchange
| Exchange | Contract | Rate | Every | Annualised | Settled 7d, annualised | Open interest | Next settlement |
|---|---|---|---|---|---|---|---|
| KuCoin | ONUSDTM | 0.0050% | 4 h | +10.9% | −3.3% | $468K | 2026-11-12 00:00 |
| MEXC | ON_USDT | 0.0050% | 4 h | +10.9% | +35.8% | $372.7K | 2026-11-12 00:00 |
| Bitunix | ONUSDT | 0.0050% | 4 h | +10.9% | +35.9% | — | 2026-11-12 00:00 |
| BingX | ON-USDT | 0.0050% | 4 h | +10.9% | +29.8% | $1.1M | 2026-11-12 00:00 |
| Binance | ONUSDT | 0.0050% | 4 h | +10.9% | +35.7% | $7.3M | 2026-11-12 00:00 |
| Aster | ONUSDT | 0.0050% | 4 h | +10.9% | +31.8% | $99.8K | 2026-11-12 00:00 |
| Gate | ON_USDT | 0.0050% | 4 h | +10.9% | +16.6% | $136.4K | 2026-11-12 00:00 |
| Variational | ON-PERP | 0.0050% | 4 h | +10.9% | +12.0% | $20.6K | 2026-11-12 00:00 |
| BingX | NCSKON2USD-USDT | 0.0050% | 8 h | +5.5% | +9.2% | $930.2K | 2026-11-12 00:00 |
| Extended | ON_24_5-USD | 0.0005% | 1 h | +4.4% | +4.4% | $0 | 2026-11-11 23:00 |
| Bybit | ONUSDT | 0.0000% | 8 h | 0.0% | 0.0% | $106.1K | 2026-11-12 00:00 |
| MEXC | ONSTOCK_USDT | 0.0000% | 8 h | 0.0% | −2.3% | $21.9K | 2026-11-12 00:00 |
| OKX | ON-USDT-SWAP | 0.0000% | 8 h | 0.0% | −2.3% | $240.1K | 2026-11-12 00:00 |
Borrow ON to sell spot
| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Gate | 5.50% | $120K |
Cost to enter $10,000 of ON
| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Gate | ON_USDT | 8.1 bp | top of book only |
| MEXC | ON_USDT | 10.2 bp | top of book only |
| Bybit | ONUSDT | 11.1 bp | top of book only |
| Binance | ONUSDT | 11.2 bp | top of book only |
| BingX | ON-USDT | 11.2 bp | top of book only |
| Aster | ONUSDT | 16.4 bp | top of book only |
| KuCoin | ONUSDTM | 16.5 bp | top of book only |
| OKX | ON-USDT-SWAP | 20.3 bp * | top of book only |
| BingX | NCSKON2USD-USDT | 21.7 bp | top of book only |
| Variational | ON-PERP | 23.5 bp | top of book only |
| Gate | ON_USDT (spot) | 26.8 bp | top of book only |
| MEXC | ONSTOCK_USDT | 28.5 bp | top of book only |
Taker fee plus slippage of a market buy of $10,000 from the mid price, at standard (VIP0) fees. * fee estimated: the exchange publishes no fee schedule without an account.
More on ON
Questions
Is ON funding-rate arbitrage profitable right now?
Not at $10,000 per side for 7 days: no ON pair shows a verified profit after fees and order-book slippage right now. Rates change every hour; the live page re-ranks continuously.
Which exchange has the highest ON funding rate?
KuCoin at +10.9% a year (0.0050% every 4 h); the lowest is OKX at 0.0%. A positive rate is paid by longs to shorts, a negative one by shorts to longs.
The method behind every number on AfterFees is published; Pro opens each figure into its line-by-line calculation. Estimates from current data, not investment advice. We never hold funds or trade for you.