BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0011%/8h= −1.2% APRnext payment −$0.06 per $10,000 · paid last 24h +0.012%

Price spread now: Bybit against BloFin−0.146%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$500.498% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 4 days (all we have)+0.421%+$42 · spread now −0.146%, 7d avg −0.030%

Together, before fees+0.149%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bybit is 0.117% cheaper against BloFin than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003347	0.0111	pay 0.0056% / 4h	48m 50s	$954K	$14.9M	75x
Short	Bybit 1000BONKUSDT	0.000003342	0.0100	get 0.0050% / 4h	48m 50s	$10.6M	$18.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$2.31
Price spread: −0.146% → −0.030%: −$11.67
Slippage, 4 orders: −$26.8
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$63.78
Costs to cover: 0.498%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Bybit: live order book, 5 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	5.93 bp	12.3 bp −$12	19.4 bp −$194	73.4 bp −$7,337	doesn't fit
Sell Bybit live order book, 5 min ago	1.48 bp	11.9 bp −$12	31.7 bp −$317	198.8 bp −$19.9K	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	0.000003347	0.000%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003353	+0.192%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003345	−0.060%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003349	+0.063%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.181%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0070%	4h	0.000003344	−0.090%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003349	+0.073%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003345	−0.060%	$222K	$667K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003347	+0.015%	$25K	$97K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003343	−0.129%	$77K	$250K	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	0.000003351	+0.120%	$112K	$106K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003346	−0.043%	$16.1M	$58.3M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003342	−0.146%	$10.6M	$18.3M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003349	+0.060%	$2.5M	$8.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003343	−0.120%	$809K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003344	−0.090%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003344	−0.084%	$2.5M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003348	+0.030%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003349	+0.060%	—	$4.8M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003342	−0.149%	$29K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003359	+0.356%	$306K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003365	+0.538%	$57K	$705K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003354	+0.209%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003343	−0.120%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003363	+0.478%	$95K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003345	−0.072%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003340	−0.209%	$4K	—	3x	as long as short
BloFin 1000BONK-USDTlong	+0.0111%	4h	0.000003347	long leg	$954K	$14.9M	75x
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−10.367%	$560	—	100x	as long as short
Hyperliquid kBONK	+0.0836%	1h	0.000003353	+0.179%	$9.9M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2518%	1h	0.000003347	+0.007%	$216K	$176K	50x	as long as short