Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.011%

Price spread now: OKX against Binance−0.048%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.048%, 7d avg −0.005%

Together, before fees+0.211%+$21 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: OKX is 0.043% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003373	0.0100	pay 0.0050% / 4h	1m 24s	$15.3M	$53.0M	75x
Short	OKX BONK-USDT-SWAP	0.000003371	0.0100	get 0.0100% / 8h	1m 24s	$2.5M	$7.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → −0.005%: −$4.31
Slippage, 4 orders: −$37.39
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$61.7
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; OKX: live order book, 2 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, 11 min ago	1.49 bp	11.8 bp −$12	26.3 bp −$263	222.2 bp −$22.2K	doesn't fit
Sell OKX live order book, 2 min ago	2.97 bp	15.2 bp −$15	59.6 bp −$596	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	−0.0456%	1h	0.000003361	−0.345%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003375	+0.071%	$1.0M	$13.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0061%	4h	0.000003376	+0.100%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003371	−0.036%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003364	−0.241%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003373	+0.011%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.924%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003370	−0.092%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003370	−0.078%	$223K	$335K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003369	−0.093%	$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	0.000003369	−0.111%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003367	−0.167%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003373	long leg	$15.3M	$53.0M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003377	+0.115%	$10.3M	$16.9M	50x	as long as short
OKX BONK-USDT-SWAPshort	+0.0100%	8h	0.000003371	−0.048%	$2.5M	$7.9M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003368	−0.137%	$722K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003374	+0.041%	$10.0M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003373	−0.001%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003370	−0.078%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003375	+0.071%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003367	−0.167%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003368	−0.136%	$302K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003368	−0.137%	$57K	$702K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003377	+0.130%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003373	+0.011%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003380	+0.219%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003372	−0.023%	$22K	$3K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003375	+0.071%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.048%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.1142%	1h	0.000003375	+0.071%	$9.9M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1451%	1h	0.000003377	+0.137%	$207K	$154K	50x	as long as short