Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.020%

Price spread now: Nado against Binance−0.195%58s7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$540.541% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 3 days (all we have)+0.441%+$44 · spread now −0.195%, 7d avg −0.003%

Together, before fees+0.433%+ Points / potential airdropNado: Active · farm board+$43 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: Nado is 0.193% cheaper against Binance than usual: you would sell low and buy high, −$19 on $10k if it goes back to its 7-day average of −0.003%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003361	0.0100	pay 0.0050% / 4h	1h 33m	$15.2M	$51.5M	75x
Short	Nado kBONK-PERP	0.000003354	0.0100	get 0.0012% / 1h	33m 40s	$19K	$106K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.195%Rate

Funding earned: $0
Price spread: −0.195% → −0.003%: −$19.29
Slippage, 4 orders: −$37.12
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$73.41
Costs to cover: 0.541%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Nado: live order book, 49 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, 8 min ago	1.48 bp	11.7 bp −$12	21.7 bp −$217	150.2 bp −$15.0K	doesn't fit
Sell Nado live order book, 49 min ago	2.97 bp	14.9 bp −$15	doesn't fit	doesn't fit	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	0.000003350	−0.329%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003368	+0.206%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0077%	4h	0.000003363	+0.057%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0047%	1h	0.000003362	+0.028%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003360	−0.032%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003363	+0.044%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.591%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003354	−0.207%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003366	+0.147%	$195K	$295K	10x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003354	−0.195%	$19K	$106K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003361	+0.002%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003365	+0.117%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003361	long leg	$15.2M	$51.5M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003360	−0.032%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003362	+0.028%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003361	−0.002%	$744K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003360	−0.032%	$10.3M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003365	+0.117%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003361	−0.002%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003363	+0.057%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003364	+0.087%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003374	+0.388%	$313K	$112K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003370	+0.266%	$57K	$699K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003367	+0.176%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003363	+0.057%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003363	+0.054%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003363	+0.057%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0135%	4h	0.000003371	+0.295%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.743%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0924%	1h	0.000003372	+0.325%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0961%	1h	0.000003371	+0.299%	$205K	$149K	50x	as long as short