Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.149%

Price spread now: Coinbase International against Binance−0.610%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.610% cheaper against Binance than usual: you would sell low and buy high (−$61 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003696	0.0100	pay 0.0050% / 4h	1h 37m	$19.2M	$78.3M	75x
Short	Coinbase International 1000BONK-PERP-INTX	0.000003673	−0.0016	pay 0.0002% / 1h	37m 29s	$45K	$55K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.610%Rate

Funding earned: −$24.36
Price spread: −0.610% → 0.000%: −$61.02
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$105.38
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 5 min ago; Coinbase International: no order-book sample. Net counts fees only.

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, 5 min ago	1.37 bp	9.8 bp −$10	25.9 bp −$259	180.7 bp −$18.1K	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-INTXshort	−0.0016%	1h	0.000003673	−0.610%	$45K	$55K	50x
dYdX BONK-USD	0.0000%	1h	0.000003695	−0.006%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003680	−0.432%	$25	—	150x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0022%	1h	0.000003683	−0.340%	$26K	$165K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−11.407%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003696	+0.024%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003697	+0.026%	$55K	$121K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003697	+0.029%	$62K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003687	−0.231%	$123K	$134K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003696	long leg	$19.2M	$78.3M	75x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003695	−0.012%	$12.6M	$24.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003699	+0.093%	$3.1M	$13.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003683	−0.340%	$1.0M	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003688	−0.204%	$12.5M	$8.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003685	−0.291%	$3.0M	$10.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003695	−0.015%	$4.7M	$4.5M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003692	−0.096%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003680	−0.425%	$345K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003680	−0.421%	$62K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003682	−0.367%	$32K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003691	−0.123%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003685	−0.285%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003686	−0.258%	$104K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003695	−0.026%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003682	−0.367%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0110%	4h	0.000003689	−0.177%	$1.1M	$19.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.3950%	1h	0.000003000	−18.821%	$561	—	100x	as long as short
Lighter 1000BONK	+0.0272%	1h	0.000003690	−0.150%	$255K	$743K	10x	as long as short
Hyperliquid kBONK	+0.1255%	1h	0.000003704	+0.229%	$12.7M	$7.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1751%	1h	0.000003694	−0.042%	$57K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2922%	1h	0.000003695	−0.007%	$228K	$221K	50x	as long as short