Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0140%/8h= +15.3% APRpaid last 24h +0.147%

Price spread now: Gate against Coinbase International+0.171%7-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 Gate

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 +$4 a day on $10k at the current rate, and Gate is 0.171% dearer against Coinbase International than usual: you sell high and buy low: +$17 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000BONK-PERP-INTX	0.000003505	−0.0040	get 0.0005% / 1h	52m 37s	$43K	$63K	50x
Short	Gate BONK_USDT	0.000003511	0.0100	get 0.0050% / 4h	52m 37s	$964K	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.171%Rate

Funding earned: $29.4
Price spread: +0.171% → 0.000%: $17.12
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $21.52
Costs to cover: 0.250%
Break-even: 1.9 days

Slippage unknown: Coinbase International: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	2.83 bp	26.7 bp −$27	96.0 bp −$960	doesn't fit	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	−0.0040%	1h	0.000003505	long leg	$43K	$63K	50x
dYdX BONK-USD	0.0000%	1h	0.000003511	+0.180%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003507	+0.063%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.591%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003510	+0.153%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003512	+0.214%	$63K	$132K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003516	+0.314%	$58K	$318K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003509	+0.114%	$116K	$141K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003511	+0.158%	$18.1M	$83.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003508	+0.071%	$12.1M	$25.6M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003507	+0.057%	$2.9M	$14.1M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003511	+0.171%	$964K	$3.5M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003512	+0.200%	$11.5M	$9.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003511	+0.157%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003507	+0.057%	$4.5M	$5.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003509	+0.114%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003490	−0.432%	$328K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003521	+0.456%	$59K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003503	−0.057%	$30K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003514	+0.257%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003509	+0.114%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003512	+0.200%	$100K	$133K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003511	+0.159%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003504	−0.029%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0150%	4h	0.000003515	+0.285%	$1.1M	$19.5M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.408%	$536	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0321%	1h	0.000003507	+0.057%	$34K	$165K	10x	as long as short
Lighter 1000BONK	+0.0544%	1h	0.000003514	+0.257%	$247K	$754K	10x	as long as short
Hyperliquid kBONK	+0.1068%	1h	0.000003515	+0.285%	$12.1M	$8.1M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1364%	1h	0.000003519	+0.399%	$54K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4523%	1h	0.000003524	+0.534%	$180K	$261K	50x	as long as short