Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.031%

Price spread now: Nado against BingX−0.164%7-day average +0.014% · 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−$84as in the Price arb table

costs, in and out, $10k−$660.659% of the position

Long on BingX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 3 days (all we have)+0.543%+$54 · spread now −0.164%, 7d avg +0.014%

Together, before fees+0.510%+ Points / potential airdropNado: Active · farm board+$51 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 0.177% cheaper against BingX than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDT	0.000003362	0.0100	pay 0.0050% / 4h	2h 31m	—	$8.0M	—
Short	Nado kBONK-PERP	0.000003356	0.0100	get 0.0013% / 1h	31m 36s	$20K	$104K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now −0.164%Rate

Funding earned: $0
Price spread: −0.164% → +0.014%: −$17.74
Slippage, 4 orders: −$48.93
Fee BingX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$83.67
Costs to cover: 0.659%
Break-even: never at this rate

Slippage from BingX: live order book, 1 min ago; Nado: live order book, 55 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, 1 min ago	5.95 bp	13.5 bp −$14	21.1 bp −$211	89.6 bp −$8,959	604.6 bp −$302.3K
Sell Nado live order book, 55 min ago	2.94 bp	24.5 bp −$25	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
Deribit 1000BONK_USDC-PERPETUAL	−0.0344%	1h	0.000003363	+0.030%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003350	−0.357%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003356	−0.178%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0042%	4h	0.000003363	+0.030%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003360	−0.071%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003363	+0.020%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.617%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003356	−0.182%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003364	+0.059%	$198K	$289K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003365	+0.084%	$67K	$252K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003364	+0.059%	$116K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003362	0.000%	$15.1M	$49.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003355	−0.193%	$10.2M	$16.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003356	−0.178%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003360	−0.059%	$739K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003364	+0.059%	$9.8M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003361	−0.015%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003354	−0.238%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDTlong	+0.0100%	4h	0.000003362	long leg	—	$8.0M	—
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003363	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003371	+0.279%	$303K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003359	−0.089%	$57K	$693K	25x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003356	−0.164%	$20K	$104K	10x
SunX BONK-USDT	+0.0100%	4h	0.000003366	+0.119%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003361	−0.030%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003361	−0.030%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003360	−0.056%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003362	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.767%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0720%	1h	0.000003368	+0.178%	$9.9M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1141%	1h	0.000003367	+0.140%	$205K	$159K	50x	as long as short