Font used - Literata with Panose stripped out
Font Size - approximately 14 ticks from the lowest setting (this is going to be the option that needs playing with)
Line Spacing - set to minimum
Margin - set one tick above minimum
This is with the patches available for firmware 4.x applied. Left, right, and top are pretty smushed I'd seriously question if I could get another character in even when combining the space of the left and right margins. With the top there is no way I'd get a full line, nor even the majority of a line, it's closer to the spacing between lines of text. The bottom margin offers the 'most' space, even there I could fit maybe 3/5th of a line of text and even then it would run smack into the bottom bezel.
I haven't tried the newer 24 line spacing options that Geoff posted, so it's possible I could maybe squeeze one line in between the top and bottom margins with that patch enabled. Though I would be surprised if that ended up being the case.
As mentioned, I don't have an issue with text running to the edge of the screen. I originally bought the H2O for the ability to display more text per page than the 6" readers out there, the same holds true for the One.
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