Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Bybit+0.062%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$600.600% of the position

Long on Bybit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 7 days−0.068%−$7 · spread now +0.062%, 7d avg +0.005%

Together, before fees−0.036%−$4 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: OKX is 0.057% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003550	0.0100	pay 0.0050% / 4h	2h 16m	$11.8M	$22.5M	50x
Short	OKX BONK-USDT-SWAP	0.000003552	0.0100	get 0.0100% / 8h	2h 16m	$2.8M	$11.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.062%Rate

Funding earned: $0
Price spread: +0.062% → +0.005%: $5.74
Slippage, 4 orders: −$38.95
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee OKX: 5 bp × 2 orders: −$10
Net: −$54.21
Costs to cover: 0.600%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	1.41 bp	14.4 bp −$14	39.4 bp −$394	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.41 bp	15.2 bp −$15	48.3 bp −$483	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	−0.0136%	1h	0.000003559	+0.259%	$44K	$49K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003561	+0.324%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003551	+0.023%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.769%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0072%	4h	0.000003567	+0.485%	$1.0M	$18.2M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003553	+0.103%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0099%	4h	0.000003550	+0.006%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003549	−0.023%	$46K	$115K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003554	+0.106%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003563	+0.372%	$120K	$125K	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	0.000003554	+0.118%	$18.3M	$72.5M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003550	long leg	$11.8M	$22.5M	50x
OKX BONK-USDT-SWAPshort	+0.0100%	8h	0.000003552	+0.062%	$2.8M	$11.9M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003554	+0.118%	$938K	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003556	+0.175%	$10.5M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003554	+0.118%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003551	+0.034%	$4.5M	$4.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003551	+0.034%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003509	−1.153%	$327K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003544	−0.163%	$60K	$704K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003556	+0.175%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003554	+0.118%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003561	+0.316%	$101K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003551	+0.021%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003549	−0.023%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.488%	$391	—	100x	as long as short
Lighter 1000BONK	+0.0200%	1h	0.000003556	+0.175%	$249K	$723K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0595%	1h	0.000003552	+0.062%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1541%	1h	0.000003558	+0.231%	$11.8M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1623%	1h	0.000003570	+0.569%	$47K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2611%	1h	0.000003561	+0.317%	$218K	$218K	50x	as long as short