Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h −0.032%

Price spread now: Nado against BloFin−0.015%7-day average −0.031% · 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−$59as in the Price arb table

costs, in and out, $10k−$600.603% of the position

Long on BloFin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.165%−$17 on $10k

Price spread, last 3 days (all we have)+0.231%+$23 · spread now −0.015%, 7d avg −0.031%

Together, before fees+0.066%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair cost −0.165%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003355	−0.0140	get 0.0070% / 4h	1h 27m	$1.0M	$13.2M	75x
Short	Nado kBONK-PERP	0.000003354	0.0100	get 0.0012% / 1h	27m 13s	$19K	$106K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.015%Rate

Funding earned: $50.4
Price spread: −0.015% → −0.031%: $1.66
Slippage, 4 orders: −$41.33
Fee BloFin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$8.28
Costs to cover: 0.603%
Break-even: 8.1 days

Slippage from BloFin: live order book, 7 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 BloFin live order book, 7 min ago	4.46 bp	12.9 bp −$13	24.1 bp −$241	57.8 bp −$5,780	doesn't fit
Sell Nado live order book, 55 min ago	2.97 bp	14.9 bp −$15	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	−0.0346%	1h	0.000003352	−0.089%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003342	−0.387%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDTlong	−0.0140%	4h	0.000003355	long leg	$1.0M	$13.2M	75x
Orderly PERP_1000BONK_USDC	−0.0079%	4h	0.000003355	0.000%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003352	−0.089%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003353	−0.073%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.414%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003350	−0.147%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003356	+0.030%	$189K	$300K	10x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003354	−0.015%	$19K	$106K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003357	+0.063%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003351	−0.119%	$113K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003355	+0.003%	$15.1M	$51.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003354	−0.030%	$10.1M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003354	−0.030%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003350	−0.149%	$741K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003356	+0.030%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003354	−0.045%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003349	−0.179%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003354	−0.030%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003354	−0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003352	−0.087%	$301K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003353	−0.060%	$57K	$700K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003359	+0.119%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003355	0.000%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003352	−0.077%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003354	−0.030%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0111%	4h	0.000003360	+0.149%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.581%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0917%	1h	0.000003361	+0.179%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0964%	1h	0.000003359	+0.131%	$204K	$149K	50x	as long as short