Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0047%/8h= −5.2% APRpaid last 24h +0.013%

Price spread now: ApeX Omni against BloFin−0.286%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$640.636% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.299%−$30 on $10k

Price spread, last 4 days (all we have)+0.920%+$92 · spread now −0.286%, 7d avg −0.011%

Together, before fees+0.622%+$62 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 0.275% cheaper against BloFin than usual: you would sell low and buy high (−$28 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003501	0.0147	pay 0.0074% / 4h	3h 46m	$1.1M	$20.2M	75x
Short	ApeX Omni 1000BONKUSDT	0.000003491	0.0100	get 0.0013% / 1h	46m 02s	$59K	$702K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now −0.286%Rate

Funding earned: −$9.9
Price spread: −0.286% → −0.011%: −$27.51
Slippage, 4 orders: −$41.57
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$100.97
Costs to cover: 0.636%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; ApeX Omni: live order book, 53 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 BloFin live order book, 3 min ago	10.00 bp	16.9 bp −$17	26.7 bp −$267	96.7 bp −$9,670	doesn't fit
Sell ApeX Omni live order book, 53 min ago	7.02 bp	14.3 bp −$14	91.6 bp −$916	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	−0.0024%	1h	0.000003481	−0.571%	$42K	$68K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003490	−0.314%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003492	−0.251%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.484%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0036%	1h	0.000003497	−0.114%	$34K	$164K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003495	−0.173%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003492	−0.243%	$70K	$139K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003496	−0.149%	$47K	$333K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003496	−0.143%	$116K	$162K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003494	−0.213%	$18.3M	$89.8M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003491	−0.288%	$12.4M	$27.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003497	−0.114%	$3.0M	$15.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003493	−0.229%	$923K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003497	−0.114%	$11.4M	$10.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003497	−0.106%	$3.0M	$11.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003491	−0.286%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003491	−0.286%	—	$5.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003509	+0.226%	$329K	$99K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003491	−0.286%	$59K	$702K	25x
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003496	−0.143%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003501	0.000%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003497	−0.114%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003506	+0.143%	$99K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003495	−0.168%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003494	−0.200%	$4K	—	3x	as long as short
BloFin 1000BONK-USDTlong	+0.0147%	4h	0.000003501	long leg	$1.1M	$20.2M	75x
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.310%	$534	—	100x	as long as short
Lighter 1000BONK	+0.0272%	1h	0.000003500	−0.029%	$245K	$757K	10x	as long as short
Hyperliquid kBONK	+0.0667%	1h	0.000003500	−0.029%	$12.0M	$8.4M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.2037%	1h	0.000003502	+0.029%	$54K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2966%	1h	0.000003500	−0.026%	$178K	$275K	50x	as long as short