Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0420%/8h= −46.0% APRpaid last 24h −0.181%

Price spread now: Coinbase International against BingX+0.119%7-day average — · you sell dearer than you buy

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

Long on BingX 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

The price spread pays, funding is against you. Coinbase International is 0.119% dearer against BingX than usual: you sell high and buy low (spread +0.119% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDC	0.000003363	0.0100	pay 0.0050% / 4h	2h 34m	—	$6.5M	—
Short	Coinbase International 1000BONK-PERP-INTX	0.000003367	−0.0320	pay 0.0040% / 1h	34m 34s	$43K	$21K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.119%Rate

Funding earned: −$88.2
Price spread: +0.119% → 0.000%: $11.89
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$96.31
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 6 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 BingX live order book, 6 min ago	4.44 bp	26.2 bp −$26	71.8 bp −$718	511.2 bp −$51.1K	721.1 bp −$360.5K
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	−0.0320%	1h	0.000003367	+0.119%	$43K	$21K	50x
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003369	+0.178%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0038%	4h	0.000003372	+0.268%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003373	+0.288%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003372	+0.259%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003375	+0.357%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.646%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003373	+0.309%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003371	+0.238%	$199K	$288K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003370	+0.223%	$20K	$103K	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	0.000003371	+0.242%	$67K	$252K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003370	+0.208%	$116K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003371	+0.231%	$15.2M	$49.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003369	+0.178%	$10.2M	$16.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003372	+0.268%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003371	+0.238%	$742K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003370	+0.208%	$9.9M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003370	+0.208%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003362	−0.030%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDClong	+0.0100%	4h	0.000003363	long leg	—	$6.5M	—
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003373	+0.297%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003371	+0.249%	$303K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003377	+0.416%	$57K	$693K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003379	+0.476%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003374	+0.327%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003379	+0.476%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003364	+0.033%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003371	+0.238%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.794%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0728%	1h	0.000003377	+0.416%	$10.0M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1137%	1h	0.000003378	+0.459%	$205K	$156K	50x	as long as short