Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Bybit against ApeX Omni−0.649%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$580.575% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.308%+$31 · spread now −0.649%, 7d avg −0.019%

Together, before fees+0.321%+$32 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.629% cheaper against ApeX Omni than usual: you would sell low and buy high, −$63 on $10k if it goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni 1000BONKUSDT	0.000003377	0.0100	pay 0.0013% / 1h	33m 21s	$57K	$693K	25x
Short	Bybit 1000BONKUSDT	0.000003355	0.0100	get 0.0050% / 4h	2h 33m	$10.2M	$16.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.649%Rate

Funding earned: $0
Price spread: −0.649% → −0.019%: −$62.94
Slippage, 4 orders: −$36.51
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$120.45
Costs to cover: 0.575%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 55 min ago; Bybit: 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	8.86 bp	17.2 bp −$17	96.5 bp −$965	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.48 bp	10.1 bp −$10	30.3 bp −$303	194.3 bp −$19.4K	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
Deribit 1000BONK_USDC-PERPETUAL	−0.0643%	1h	0.000003355	−0.651%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003359	−0.533%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003369	−0.237%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0041%	4h	0.000003355	−0.651%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003357	−0.604%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003364	−0.388%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.050%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003355	−0.641%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003365	−0.355%	$198K	$288K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003355	−0.637%	$20K	$103K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003367	−0.283%	$67K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003365	−0.355%	$116K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003356	−0.622%	$15.1M	$49.8M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003355	−0.649%	$10.2M	$16.2M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003355	−0.651%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003358	−0.563%	$739K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003359	−0.533%	$9.9M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003363	−0.412%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003351	−0.770%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003356	−0.622%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003363	−0.415%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003371	−0.166%	$303K	$104K	—	as long as short
ApeX Omni 1000BONKUSDTlong	+0.0100%	1h	0.000003377	long leg	$57K	$693K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003360	−0.503%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003355	−0.651%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003370	−0.207%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003355	−0.648%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003355	−0.651%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.164%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0719%	1h	0.000003364	−0.385%	$9.9M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1142%	1h	0.000003363	−0.407%	$204K	$159K	50x	as long as short