ONT: Binance → Bybit

Long on the venue with the lower rate, short on the venue with the higher one. Income comes from the rate difference; price exposure cancels out.

Spread

+134%

APR right now

Price gap

-0.212%

between legs

Average spread

+115%

over 24h from our own samples

Over 7 days

+115%

samples: 120

BinanceLONG

Bid / ask— / —

Mark price0.05651

Volume 24h$2.70M

Open interest—

Rate+0.0050%

APR+11%

Interval / next payout4h / 1h 30m

Binance

BybitSHORT

Bid / ask0.05639 / 0.05642

Mark price0.05641

Volume 24h$333.98K

Open interest$797.10K

Rate+0.0660%

APR+145%

Interval / next payout4h / 1h 30m

Bybit

Spread from our samples

spread over the period: from 0% to 192% APR, 120 samples

The rate can flip at any moment, and then the position starts costing money. Size is limited by the weaker leg, and entry and exit both pay fees on two venues. Not financial advice.