Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.4240%/8h= +464.3% APRpaid last 24h +0.288%

Price spread now: GMX against Binance−10.926%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 GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. GMX is 10.926% cheaper against Binance than usual: you would sell low and buy high (spread −10.926% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,093 on $10k: about 8.6 days of funding at the current rate (+$127 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003368	0.0100	pay 0.0050% / 4h	1h 36m	$15.2M	$51.4M	75x
Short	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0196% / S −0.4340%	get 0.0542% / 1h	36m 13s	$564	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −10.926%Rate

Funding earned: $890.37
Price spread: −10.926% → 0.000%: −$1,092.64
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$224.27
Costs to cover: 0.220%
Break-even: 8.8 days

Slippage unknown: Binance: live order book, 6 min ago; GMX: 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, 6 min ago	1.48 bp	11.7 bp −$12	21.7 bp −$217	150.2 bp −$15.0K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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-INTX	−0.0248%	1h	0.000003358	−0.297%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003376	+0.238%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0076%	4h	0.000003375	+0.208%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0047%	1h	0.000003371	+0.089%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003375	+0.193%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003380	+0.343%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.791%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003373	+0.151%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003371	+0.089%	$195K	$294K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003374	+0.193%	$19K	$106K	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	0.000003377	+0.273%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003378	+0.297%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003368	long leg	$15.2M	$51.4M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003367	−0.042%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003368	0.000%	$2.5M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003373	+0.148%	$750K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003375	+0.208%	$10.1M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003377	+0.252%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003377	+0.267%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003374	+0.178%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003379	+0.327%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003380	+0.360%	$303K	$102K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003385	+0.505%	$57K	$698K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003371	+0.089%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003368	0.000%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003370	+0.058%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003375	+0.208%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0154%	4h	0.000003385	+0.505%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]short	L +0.0196% / S −0.4340%	1h	0.000003000	−10.926%	$564	—	100x
Hyperliquid kBONK	+0.0931%	1h	0.000003382	+0.416%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0959%	1h	0.000003377	+0.270%	$205K	$149K	50x	as long as short