Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0101%/8h= −11.0% APRpaid last 24h −0.030%

Price spread now: gTrade (Gains Network) against BingX−0.041%7-day average — · you buy dearer than you sell

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

Long on BingX Short on gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.041% cheaper against BingX than usual: you would sell low and buy high (−$4 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	BingX 1000BONK-USDC	0.000003448	0.0100	pay 0.0050% / 4h	2h 25m	—	$6.5M	—
Short	gTrade (Gains Network) BONK/USD	0.000003447	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	25m 10s	$24	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.041%Rate

Funding earned: −$21.17
Price spread: −0.041% → 0.000%: −$4.06
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$45.23
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 5 min ago; gTrade (Gains Network): 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, 5 min ago	4.36 bp	24.7 bp −$25	75.5 bp −$755	478.0 bp −$47.8K	636.8 bp −$318.4K
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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 30 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	−0.0336%	1h	0.000003369	−2.291%	$43K	$26K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0006%	4h	0.000003446	−0.058%	$30K	$58K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003448	+0.009%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDshort	L +0.0001% / S +0.0001%	1h	0.000003447	−0.041%	$24	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.046%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0040%	1h	0.000003447	−0.029%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003446	−0.045%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003449	+0.029%	$232K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003448	0.000%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003453	+0.153%	$66K	$253K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003448	0.000%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003448	+0.001%	$16.2M	$56.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003447	−0.020%	$11.0M	$17.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003445	−0.087%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003448	0.000%	$763K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003448	0.000%	$9.6M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003447	−0.026%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003444	−0.116%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDClong	+0.0100%	4h	0.000003448	long leg	—	$6.5M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003458	+0.288%	$315K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003439	−0.261%	$58K	$707K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003450	+0.058%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003446	−0.058%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003451	+0.087%	$98K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003445	−0.099%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003446	−0.058%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.993%	$576	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0379%	1h	0.000003447	−0.029%	$31K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0990%	1h	0.000003454	+0.174%	$10.3M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2037%	1h	0.000003458	+0.284%	$216K	$165K	50x	as long as short