Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit+0.170%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$810.811% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 7 days−0.164%−$16 · spread now +0.170%, 7d avg −0.004%

Together, before fees−0.153%−$15 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: Gate is 0.174% dearer against Bybit than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003416	0.0100	pay 0.0050% / 4h	29m 02s	$10.8M	$18.6M	50x
Short	Gate BONK_USDT	0.000003422	0.0100	get 0.0050% / 4h	29m 02s	$808K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.170%Rate

Funding earned: $0
Price spread: +0.170% → −0.004%: $17.42
Slippage, 4 orders: −$55.1
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$63.68
Costs to cover: 0.811%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Gate: live order book, 4 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, 4 min ago	1.47 bp	16.1 bp −$16	34.9 bp −$349	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.94 bp	23.6 bp −$24	112.0 bp −$1,120	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	−0.0320%	1h	0.000003397	−0.562%	$43K	$34K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003420	+0.123%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003419	+0.085%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.163%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0073%	4h	0.000003420	+0.111%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003419	+0.095%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003424	+0.228%	$226K	$670K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003417	+0.038%	$31K	$101K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003419	+0.077%	$79K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003419	+0.082%	$114K	$109K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003418	+0.054%	$16.5M	$59.4M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003416	long leg	$10.8M	$18.6M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003413	−0.094%	$2.5M	$9.0M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003422	+0.170%	$808K	$2.7M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003419	+0.082%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003419	+0.094%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003418	+0.053%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003418	+0.053%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003399	−0.492%	$309K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003388	−0.825%	$57K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003426	+0.287%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003423	+0.199%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003428	+0.345%	$97K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003421	+0.143%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003418	+0.053%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0126%	4h	0.000003421	+0.141%	$962K	$15.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.183%	$571	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0335%	1h	0.000003422	+0.170%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0337%	1h	0.000003421	+0.141%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0747%	1h	0.000003424	+0.228%	$10.1M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2458%	1h	0.000003429	+0.377%	$221K	$177K	50x	as long as short