Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: ApeX Omni against Bybit−0.281%79s7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as 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−$570.569% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 4 days (all we have)+0.843%+$84 · spread now −0.281%, 7d avg +0.028%

Together, before fees+0.812%+$81 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: ApeX Omni is 0.310% cheaper against Bybit than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of +0.028%. The two prices were read 79 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	Bybit 1000BONKUSDT	0.000003486	0.0100	pay 0.0050% / 4h	3h 08m	$12.4M	$27.5M	50x
Short	ApeX Omni 1000BONKUSDT	0.000003476	0.0100	get 0.0013% / 1h	8m 14s	$59K	$698K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.281%Rate

Funding earned: $0
Price spread: −0.281% → +0.028%: −$30.96
Slippage, 4 orders: −$35.89
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$87.85
Costs to cover: 0.569%
Break-even: never at this rate

Slippage from Bybit: live order book, just now; ApeX Omni: live order book, 25 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 Bybit live order book, just now	1.43 bp	12.3 bp −$12	31.3 bp −$313	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 25 min ago	7.20 bp	15.0 bp −$15	92.4 bp −$924	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	0.000003500	+0.407%	$45K	$85K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003494	+0.224%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.076%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003487	+0.032%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003488	+0.049%	$64K	$141K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003494	+0.224%	$48K	$292K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003495	+0.264%	$116K	$161K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003489	+0.104%	$18.0M	$91.0M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003486	long leg	$12.4M	$27.5M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003486	+0.006%	$3.1M	$15.2M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BONK_USDT	+0.0100%	4h	0.000003488	+0.063%	$923K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003489	+0.092%	$11.3M	$10.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003490	+0.112%	$2.9M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003485	−0.023%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003488	+0.063%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003486	+0.004%	$339K	$119K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003476	−0.281%	$59K	$698K	25x
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003487	+0.034%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003492	+0.178%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003486	+0.006%	$3K	$8K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003494	+0.235%	$100K	$136K	30x	as long as short
BloFin 1000BONK-USDT	+0.0101%	4h	0.000003499	+0.379%	$1.0M	$20.0M	75x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003484	−0.063%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003485	−0.023%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−13.937%	$532	—	100x	as long as short
Lighter 1000BONK	+0.0256%	1h	0.000003489	+0.092%	$245K	$775K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0324%	1h	0.000003487	+0.034%	$24K	$162K	10x	as long as short
dYdX BONK-USD	+0.0406%	1h	0.000003491	+0.161%	$13K	$10K	10x	as long as short
Hyperliquid kBONK	+0.0585%	1h	0.000003492	+0.178%	$11.9M	$8.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1635%	1h	0.000003503	+0.493%	$54K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2973%	1h	0.000003492	+0.187%	$177K	$272K	50x	as long as short