Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX−0.089%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$670.674% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.089%, 7d avg −0.006%

Together, before fees+0.041%+$4 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: Gate is 0.083% cheaper against BingX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDT	0.000003374	0.0100	pay 0.0050% / 4h	54m 00s	—	$4.8M	—
Short	Gate BONK_USDT	0.000003371	0.0100	get 0.0050% / 4h	54m 00s	$813K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.089%Rate

Funding earned: $0
Price spread: −0.089% → −0.006%: −$8.25
Slippage, 4 orders: −$42.35
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$75.6
Costs to cover: 0.674%
Break-even: never at this rate

Slippage from BingX: live order book, 11 min ago; Gate: live order book, 4 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 BingX live order book, 11 min ago	4.45 bp	13.9 bp −$14	25.7 bp −$257	102.8 bp −$10.3K	602.9 bp −$301.4K
Sell Gate live order book, 4 min ago	4.47 bp	21.2 bp −$21	85.4 bp −$854	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	−0.0320%	1h	0.000003350	−0.711%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003371	−0.079%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003372	−0.059%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003372	−0.053%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.964%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0068%	4h	0.000003374	0.000%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003373	−0.016%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003375	+0.030%	$224K	$667K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003376	+0.059%	$78K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003376	+0.059%	$113K	$104K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003373	−0.030%	$16.2M	$58.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003374	0.000%	$10.7M	$18.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003372	−0.059%	$2.5M	$8.6M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003371	−0.089%	$813K	$2.6M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003373	−0.030%	$9.4M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003374	−0.012%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003370	−0.119%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDTlong	+0.0100%	4h	0.000003374	long leg	—	$4.8M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003372	−0.061%	$307K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003360	−0.415%	$57K	$706K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003372	−0.044%	$27K	$96K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003376	+0.059%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003371	−0.089%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003378	+0.119%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003370	−0.114%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003375	+0.030%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0111%	4h	0.000003374	0.000%	$961K	$15.0M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.085%	$564	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0210%	1h	0.000003374	0.000%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0911%	1h	0.000003378	+0.119%	$10.0M	$4.7M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2494%	1h	0.000003379	+0.151%	$218K	$174K	50x	as long as short