Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0101%/8h= −11.0% APRpaid last 24h −0.030%

Price spread now: gTrade (Gains Network) against Bybit+0.006%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003511	0.0100	pay 0.0050% / 4h	2h 35m	$11.6M	$22.1M	50x
Short	gTrade (Gains Network) BONK/USD	0.000003511	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	35m 53s	$24	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.006%Rate

Funding earned: −$21.17
Price spread: +0.006% → 0.000%: $0.57
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$41.6
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 8 min ago; gTrade (Gains Network): 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, 8 min ago	2.84 bp	14.0 bp −$14	33.8 bp −$338	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0136%	1h	0.000003479	−0.911%	$43K	$47K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003516	+0.155%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDshort	L +0.0001% / S +0.0001%	1h	0.000003511	+0.006%	$24	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.750%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003510	−0.015%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0091%	4h	0.000003513	+0.057%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003514	+0.100%	$42K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003511	0.000%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003518	+0.199%	$117K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003516	+0.151%	$17.9M	$71.0M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003511	long leg	$11.6M	$22.1M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003516	+0.142%	$2.8M	$11.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003514	+0.085%	$929K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003516	+0.142%	$10.0M	$8.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003512	+0.031%	$3.0M	$10.3M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003512	+0.028%	$4.5M	$3.9M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003511	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003510	−0.030%	$326K	$141K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003515	+0.114%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003512	+0.028%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003518	+0.199%	$100K	$129K	30x	as long as short
BloFin 1000BONK-USDT	+0.0103%	4h	0.000003523	+0.342%	$1.0M	$17.8M	75x	as long as short
Lighter 1000BONK	+0.0104%	1h	0.000003519	+0.228%	$248K	$708K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003516	+0.131%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003508	−0.085%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−14.554%	$388	—	100x	as long as short
ApeX Omni 1000BONKUSDT	+0.0198%	1h	0.000003489	−0.627%	$59K	$705K	25x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0320%	1h	0.000003513	+0.057%	$9K	$134K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1656%	1h	0.000003518	+0.199%	$46K	$17K	10x	as long as short
Hyperliquid kBONK	+0.1656%	1h	0.000003523	+0.342%	$11.9M	$6.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2639%	1h	0.000003524	+0.375%	$216K	$218K	50x	as long as short