Funding arb · Price arb /

BONK

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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 +0.007%

Price spread now: Binance against BloFin−0.196%91s7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.460% of the position

Long on BloFin Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.381%−$38 on $10k

Price spread, last 4 days (all we have)+0.769%+$77 · spread now −0.196%, 7d avg −0.020%

Together, before fees+0.388%+$39 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: Binance is 0.175% cheaper against BloFin than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.020%. The two prices were read 91 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003406	0.0100	pay 0.0050% / 4h	1h 13m	$948K	$15.1M	75x
Short	Binance 1000BONKUSDT	0.000003399	0.0100	get 0.0050% / 4h	1h 13m	$16.1M	$57.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.196%Rate

Funding earned: $0.01
Price spread: −0.196% → −0.020%: −$17.51
Slippage, 4 orders: −$23.98
Fee BloFin: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$63.48
Costs to cover: 0.460%
Break-even: 53112.2 days

Slippage from BloFin: live order book, 5 min ago; Binance: live order book, 13 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, 5 min ago	1.47 bp	15.2 bp −$15	23.1 bp −$231	78.0 bp −$7,795	doesn't fit
Sell Binance live order book, 13 min ago	1.47 bp	12.2 bp −$12	25.7 bp −$257	102.5 bp −$10.2K	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	−0.0336%	1h	0.000003393	−0.382%	$43K	$34K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003399	−0.196%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003398	−0.232%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.876%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0044%	1h	0.000003401	−0.147%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0060%	4h	0.000003400	−0.176%	$29K	$57K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003399	−0.208%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003398	−0.235%	$224K	$670K	10x	as long as short
BloFin 1000BONK-USDTlong	+0.0100%	4h	0.000003406	long leg	$948K	$15.1M	75x
Nado kBONK-PERP	+0.0100%	1h	0.000003398	−0.220%	$27K	$97K	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	0.000003399	−0.202%	$79K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003399	−0.206%	$114K	$104K	10x	as long as short
Binance 1000BONKUSDTshort	+0.0100%	4h	0.000003399	−0.196%	$16.1M	$57.4M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003399	−0.206%	$10.8M	$18.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003400	−0.176%	$2.5M	$8.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003400	−0.176%	$845K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003400	−0.176%	$9.5M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003400	−0.185%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003396	−0.294%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003395	−0.323%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003406	0.000%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003410	+0.113%	$310K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003404	−0.059%	$57K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003404	−0.059%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003403	−0.088%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003410	+0.117%	$97K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003397	−0.276%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003401	−0.147%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.920%	$568	—	100x	as long as short
Hyperliquid kBONK	+0.0806%	1h	0.000003403	−0.088%	$10.1M	$4.7M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2036%	1h	0.000003412	+0.186%	$220K	$174K	50x	as long as short