Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0316%/8h= +34.6% APRpaid last 24h +0.180%

Price spread now: BloFin against Coinbase International+1.825%58s7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BloFin is 1.825% dearer against Coinbase International than usual: you sell high and buy low: +$183 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 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	Coinbase International 1000BONK-PERP-INTX	0.000003342	−0.0456	get 0.0057% / 1h	51m 38s	$42K	$22K	50x
Short	BloFin 1000BONK-USDT	0.000003403	−0.0140	pay 0.0070% / 4h	51m 38s	$1.0M	$13.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now +1.825%Rate

Funding earned: $66.36
Price spread: +1.825% → 0.000%: $182.53
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $226.89
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; BloFin: live order book, 2 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell BloFin live order book, 2 min ago	5.88 bp	12.4 bp −$12	22.8 bp −$228	66.4 bp −$6,641	doesn't fit

Coinbase International: 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-INTXlong	−0.0456%	1h	0.000003342	long leg	$42K	$22K	50x
BloFin 1000BONK-USDTshort	−0.0140%	4h	0.000003403	+1.825%	$1.0M	$13.7M	75x
Orderly PERP_1000BONK_USDC	−0.0086%	4h	0.000003389	+1.406%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003390	+1.448%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003396	+1.602%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003388	+1.376%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.035%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003392	+1.498%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003398	+1.676%	$191K	$298K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003395	+1.601%	$20K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003393	+1.530%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003399	+1.706%	$115K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003397	+1.643%	$15.4M	$52.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003392	+1.493%	$10.3M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003399	+1.706%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003396	+1.616%	$729K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003397	+1.646%	$9.8M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003395	+1.574%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003404	+1.855%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003399	+1.706%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003392	+1.497%	$304K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003389	+1.406%	$57K	$699K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003396	+1.616%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003390	+1.436%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003400	+1.735%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003400	+1.731%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003387	+1.346%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.233%	$567	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0235%	1h	0.000003393	+1.526%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1228%	1h	0.000003405	+1.885%	$10.2M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1443%	1h	0.000003396	+1.622%	$206K	$149K	50x	as long as short