Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Pacifica against Bybit−0.065%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$680.675% of the position

Long on Bybit Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.065%, 7d avg +0.024%

Together, before fees+0.046%+ Points / potential airdropPacifica: Active · farm board+$5 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: Pacifica is 0.089% cheaper against Bybit than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003521	0.0100	pay 0.0050% / 4h	3h 31m	$11.5M	$19.5M	50x
Short	Pacifica kBONK	0.000003519	0.0100	get 0.0013% / 1h	31m 16s	$117K	$105K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.065%Rate

Funding earned: $0
Price spread: −0.065% → +0.024%: −$8.9
Slippage, 4 orders: −$48.54
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$76.44
Costs to cover: 0.675%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Pacifica: live order book, 21 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	1.43 bp	13.7 bp −$14	32.4 bp −$324	doesn't fit	doesn't fit
Sell Pacifica live order book, 21 min ago	5.72 bp	21.7 bp −$22	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	−0.0312%	1h	0.000003510	−0.321%	$44K	$39K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003519	−0.055%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003523	+0.062%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.023%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0083%	4h	0.000003520	−0.037%	$30K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003520	−0.026%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003520	−0.023%	$40K	$104K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003526	+0.146%	$82K	$250K	10x	as long as short
Pacifica kBONKshort	+0.0100%	1h	0.000003519	−0.065%	$117K	$105K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003524	+0.066%	$17.3M	$62.4M	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	0.000003521	long leg	$11.5M	$19.5M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003523	+0.048%	$2.6M	$9.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003522	+0.020%	$871K	$2.8M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003527	+0.162%	$9.8M	$7.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003521	+0.003%	$3.0M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003520	−0.037%	$4.5M	$3.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003522	+0.020%	—	$4.6M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003502	−0.551%	$325K	$139K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003494	−0.775%	$59K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003530	+0.247%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003523	+0.048%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003531	+0.275%	$100K	$121K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003521	+0.005%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003522	+0.020%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0136%	4h	0.000003495	−0.747%	$993K	$16.3M	75x	as long as short
Lighter 1000BONK	+0.0168%	1h	0.000003522	+0.020%	$247K	$691K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−14.804%	$588	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0602%	1h	0.000003523	+0.048%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.0843%	1h	0.000003529	+0.219%	$10.4M	$5.0M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1362%	1h	0.000003524	+0.077%	$46K	$15K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2375%	1h	0.000003535	+0.392%	$225K	$178K	50x	as long as short