Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Bybit against Binance−0.090%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$560.556% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.090%, 7d avg −0.008%

Together, before fees+0.181%+$18 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 0.082% cheaper against Binance than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003444	0.0100	pay 0.0050% / 4h	2h 29m	$16.1M	$56.5M	75x
Short	Bybit 1000BONKUSDT	0.000003441	0.0100	get 0.0050% / 4h	2h 29m	$11.0M	$17.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → −0.008%: −$8.16
Slippage, 4 orders: −$34.57
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$63.73
Costs to cover: 0.556%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Bybit: live order book, 4 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 Binance live order book, 12 min ago	1.47 bp	14.5 bp −$14	31.0 bp −$310	242.7 bp −$24.3K	doesn't fit
Sell Bybit live order book, 4 min ago	2.92 bp	14.8 bp −$15	34.3 bp −$343	301.4 bp −$30.1K	doesn't fit

BONK on 30 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	−0.0336%	1h	0.000003369	−2.178%	$43K	$26K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0009%	4h	0.000003434	−0.290%	$29K	$59K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003429	−0.422%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003438	−0.171%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.936%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003437	−0.204%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003439	−0.131%	$26K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003438	−0.175%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003434	−0.290%	$114K	$125K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003444	long leg	$16.1M	$56.5M	75x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003441	−0.090%	$11.0M	$17.7M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003444	0.000%	$2.5M	$8.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003440	−0.116%	$759K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003444	0.000%	$9.5M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003440	−0.122%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003439	−0.145%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003442	−0.058%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003437	−0.190%	$313K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003417	−0.784%	$58K	$713K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003436	−0.232%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003442	−0.058%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003442	−0.058%	$97K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003442	−0.056%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003444	0.000%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0152%	1h	0.000003445	+0.029%	$232K	$670K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.892%	$574	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0354%	1h	0.000003445	+0.029%	$31K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0914%	1h	0.000003439	−0.145%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0956%	1h	0.000003450	+0.174%	$10.2M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2041%	1h	0.000003451	+0.216%	$215K	$165K	50x	as long as short