# ON funding rates and arbitrage

Updated 2026-10-29 23:18 UTC · https://afterfees.xyz/coin/ON

## 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](https://afterfees.xyz/venues/kucoin) | ONUSDTM | 0.0278% | 4 h | +60.9% | +36.7% | $405.3K | 2026-10-30 00:00 |
| [Gate](https://afterfees.xyz/venues/gate) | ON_USDT | 0.0120% | 4 h | +26.3% | +11.8% | $226.2K | 2026-10-30 00:00 |
| [Bitunix](https://afterfees.xyz/venues/bitunix) | ONUSDT | 0.0050% | 4 h | +10.9% | +16.4% | — | 2026-10-30 00:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | ON_USDT | 0.0050% | 4 h | +10.9% | +16.1% | $316.2K | 2026-10-30 00:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | ON-USDT | 0.0050% | 4 h | +10.9% | +16.2% | $2.2M | 2026-10-30 00:00 |
| [Aster](https://afterfees.xyz/venues/aster) | ONUSDT | 0.0050% | 4 h | +10.9% | +25.2% | $447.6K | 2026-10-30 00:00 |
| [Variational](https://afterfees.xyz/venues/variational) | ON-PERP | 0.0050% | 4 h | +10.9% | — | $31K | 2026-10-30 00:00 |
| [Binance](https://afterfees.xyz/venues/binance) | ONUSDT | 0.0050% | 4 h | +10.9% | +15.2% | $11.2M | 2026-10-30 00:00 |
| [BingX](https://afterfees.xyz/venues/bingx) | NCSKON2USD-USDT | 0.0050% | 8 h | +5.5% | +5.8% | $930.2K | 2026-10-30 00:00 |
| [Extended](https://afterfees.xyz/venues/extended) | ON_24_5-USD | 0.0005% | 1 h | +4.4% | +4.4% | $0 | 2026-10-30 00:00 |
| [MEXC](https://afterfees.xyz/venues/mexc) | ONSTOCK_USDT | 0.0000% | 8 h | 0.0% | 0.0% | $40.6K | 2026-10-30 00:00 |
| [OKX](https://afterfees.xyz/venues/okx) | ON-USDT-SWAP | 0.0000% | 8 h | 0.0% | 0.0% | $213K | 2026-10-30 00:00 |
| [Bybit](https://afterfees.xyz/venues/bybit) | ONUSDT | 0.0000% | 8 h | 0.0% | 0.0% | $98.5K | 2026-10-30 00:00 |

## Borrow ON to sell spot

| Exchange | Borrow APR | Per-account limit |
|---|---|---|
| Gate | 5.47% | $120K |

## Cost to enter $10,000 of ON

| Exchange | Contract | Fee + slippage | Source |
|---|---|---|---|
| Binance | ONUSDT | 7.7 bp | top of book only |
| BingX | ON-USDT | 7.7 bp | top of book only |
| Gate | ON_USDT | 7.8 bp | top of book only |
| MEXC | ON_USDT | 9.5 bp | top of book only |
| Variational | ON-PERP | 11.0 bp | top of book only |
| Aster | ONUSDT | 17.7 bp | top of book only |
| Bybit | ONUSDT | 19.8 bp | top of book only |
| KuCoin | ONUSDTM | 25.8 bp | top of book only |
| Gate | ON_USDT (spot) | 26.6 bp | top of book only |
| MEXC | ONSTOCK_USDT | 36.1 bp | top of book only |
| OKX | ON-USDT-SWAP | 37.1 bp * | top of book only |
| BingX | NCSKON2USD-USDT | 37.8 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

- [Borrow ON: rates on every exchange](https://afterfees.xyz/borrow/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 +60.9% a year (0.0278% every 4 h); the lowest is Bybit 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._