Recently, I found ONT to be quite interesting. With a negative 2 funding rate and up to 75x leverage, it looks like a good arbitrage opportunity. So I gave it a try.

When the funding fee was about to settle, I maximized the 75x leverage to go long, but only got a limit of 5000U, with an actual principal of less than 67U. When the price hit the target, I immediately closed the position at market price. And what happened? I received 100U just from the funding fee. Although the position itself lost 42U, after deducting fees, I still netted over 50 bucks.

Honestly, this move was a bit unexpected. There are quite a few market inefficiencies like this, it just depends on whether you can catch them.