Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h +0.016%

Price spread now: BloFin against ApeX Omni−0.089%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$610.607% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.323%+$32 on $10k

Price spread, last 3 days (all we have)−0.035%−$3 · spread now −0.089%, 7d avg +0.037%

Together, before fees+0.288%+$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and BloFin is 0.126% cheaper against ApeX Omni than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.037%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.323%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni 1000BONKUSDT	0.000003362	0.0100	pay 0.0013% / 1h	28m 47s	$57K	$699K	25x
Short	BloFin 1000BONK-USDT	0.000003359	−0.0140	pay 0.0070% / 4h	1h 28m	$1.0M	$13.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against ApeX Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee ApeX OmnibpFee BloFinbpOrdersPrice spread, now −0.089%Rate

Funding earned: −$50.4
Price spread: −0.089% → +0.037%: −$12.6
Slippage, 4 orders: −$38.67
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$123.67
Costs to cover: 0.607%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 55 min ago; BloFin: live order book, 5 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy ApeX Omni live order book, 55 min ago	8.90 bp	16.9 bp −$17	110.6 bp −$1,106	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	4.46 bp	14.1 bp −$14	24.0 bp −$240	61.7 bp −$6,167	doesn't fit

BONK on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003340	−0.654%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDTshort	−0.0140%	4h	0.000003359	−0.089%	$1.0M	$13.3M	75x
Orderly PERP_1000BONK_USDC	−0.0078%	4h	0.000003359	−0.089%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003359	−0.092%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003359	−0.101%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003358	−0.119%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.617%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003356	−0.176%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003363	+0.030%	$189K	$300K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.103%	$64K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003355	−0.208%	$113K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.085%	$15.1M	$51.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.101%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003361	−0.030%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003355	−0.208%	$742K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003359	−0.089%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003357	−0.149%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003361	−0.030%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003356	−0.178%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003361	−0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003352	−0.295%	$301K	$121K	—	as long as short
ApeX Omni 1000BONKUSDTlong	+0.0100%	1h	0.000003362	long leg	$57K	$699K	25x
Nado kBONK-PERP	+0.0100%	1h	0.000003357	−0.134%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003361	−0.030%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003356	−0.178%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003358	−0.122%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003357	−0.149%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0115%	4h	0.000003382	+0.595%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.767%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0927%	1h	0.000003368	+0.178%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0964%	1h	0.000003360	−0.048%	$204K	$149K	50x	as long as short