Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.025%

Price spread now: Nado against Bybit−0.009%49s7-day average +0.026% · 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—prices read too far apart to compare

costs, in and out, $10k−$710.706% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 3 days (all we have)+0.424%+$42 · spread now −0.009%, 7d avg +0.026%

Together, before fees+0.441%+ Points / potential airdropNado: Active · farm board+$44 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: Nado is 0.035% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.026%. The two prices were read 49 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	0.000003383	0.0100	pay 0.0050% / 4h	2h 24m	$10.3M	$16.5M	50x
Short	Nado kBONK-PERP	0.000003382	0.0100	get 0.0013% / 1h	24m 46s	$18K	$107K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → +0.026%: −$3.5
Slippage, 4 orders: −$52.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$74.05
Costs to cover: 0.706%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Nado: live order book, 62 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	1.49 bp	16.0 bp −$16	32.8 bp −$328	doesn't fit	doesn't fit
Sell Nado live order book, 62 min ago	2.94 bp	24.5 bp −$25	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
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003374	−0.260%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003383	+0.006%	$1.0M	$13.3M	75x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0046%	1h	0.000003380	−0.083%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDC	−0.0041%	4h	0.000003385	+0.065%	$29K	$41K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003380	−0.085%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003381	−0.050%	$2K	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.216%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003382	−0.011%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003382	−0.024%	$200K	$290K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003385	+0.077%	$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	0.000003381	−0.053%	$115K	$117K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003380	−0.093%	$15.3M	$50.7M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003383	long leg	$10.3M	$16.5M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003378	−0.142%	$2.5M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003376	−0.201%	$743K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003385	+0.065%	$10.3M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003379	−0.118%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003376	−0.201%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003379	−0.112%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003378	−0.142%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003417	+1.007%	$305K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003394	+0.331%	$57K	$693K	25x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003382	−0.009%	$18K	$107K	10x
SunX BONK-USDT	+0.0100%	4h	0.000003387	+0.124%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003380	−0.083%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003380	−0.083%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003380	−0.076%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003387	+0.124%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.316%	$566	—	100x	as long as short
Hyperliquid kBONK	+0.0728%	1h	0.000003388	+0.154%	$10.0M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1135%	1h	0.000003386	+0.095%	$206K	$149K	50x	as long as short