Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.011%

Price spread now: Extended against Bybit−0.124%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.124% cheaper against Bybit than usual: you would sell low and buy high, −$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003390	0.0100	pay 0.0050% / 4h	3h 39m	$10.5M	$17.0M	50x
Short	Extended 1000BONK-USD	0.000003386	0.0104	get 0.0013% / 1h	39m 00s	$22K	$4K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.124%Rate

Funding earned: $0.84
Price spread: −0.124% → 0.000%: −$12.37
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.53
Costs to cover: 0.160%
Break-even: 236.4 days

Slippage unknown: Bybit: live order book, 4 min ago; Extended: no order-book sample. Net counts fees only.

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, 4 min ago	1.48 bp	13.9 bp −$14	34.4 bp −$344	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0376%	1h	0.000003389	−0.029%	$43K	$24K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003387	−0.088%	$1.0M	$14.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0056%	4h	0.000003389	−0.029%	$29K	$40K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0045%	1h	0.000003387	−0.088%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003391	+0.027%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003396	+0.191%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.422%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003391	+0.044%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003391	+0.044%	$19K	$103K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003392	+0.050%	$65K	$251K	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	0.000003398	+0.236%	$114K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003390	0.000%	$15.5M	$53.2M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003390	long leg	$10.5M	$17.0M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003390	0.000%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003390	0.000%	$726K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003389	−0.029%	$9.9M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003390	0.000%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003390	0.000%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003389	−0.029%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003394	+0.117%	$305K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003391	+0.029%	$57K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003401	+0.324%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003387	−0.088%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003407	+0.501%	$93K	$153K	30x	as long as short
Extended 1000BONK-USDshort	+0.0104%	1h	0.000003386	−0.124%	$22K	$4K	25x
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003388	−0.059%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.504%	$567	—	100x	as long as short
Lighter 1000BONK	+0.0272%	1h	0.000003393	+0.088%	$311K	$420K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0294%	1h	0.000003390	0.000%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0593%	1h	0.000003395	+0.147%	$10.1M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1467%	1h	0.000003395	+0.146%	$208K	$156K	50x	as long as short