Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.009%

Price spread now: Bybit against Extended−0.064%7-day average — · you buy dearer than you sell

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

Long on Extended Short on Bybit

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—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.064% cheaper against Extended than usual: you would sell low and buy high, −$6 on $10k if it 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	Extended 1000BONK-USD	0.000003382	0.0104	pay 0.0013% / 1h	45m 27s	$22K	$2K	25x
Short	Bybit 1000BONKUSDT	0.000003380	0.0100	get 0.0050% / 4h	2h 45m	$10.2M	$16.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now −0.064%Rate

Funding earned: −$0.84
Price spread: −0.064% → 0.000%: −$6.44
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$23.28
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Extended: no order-book sample; Bybit: live order book, 3 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 Extended no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	2.95 bp	16.8 bp −$17	35.8 bp −$358	243.5 bp −$24.3K	doesn't fit

Extended: 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-INTX	−0.0320%	1h	0.000003377	−0.153%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003386	+0.113%	$1.0M	$13.2M	75x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0046%	1h	0.000003380	−0.064%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDC	−0.0034%	4h	0.000003381	−0.035%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003381	−0.026%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003382	−0.005%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.198%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003383	+0.012%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003385	+0.083%	$203K	$283K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003383	+0.036%	$67K	$252K	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	0.000003383	+0.024%	$116K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003382	−0.015%	$15.3M	$49.6M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003380	−0.064%	$10.2M	$16.1M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003382	−0.005%	$2.5M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003383	+0.024%	$746K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003381	−0.035%	$9.8M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003381	−0.026%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003381	−0.035%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003382	−0.005%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003383	+0.024%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003383	+0.025%	$304K	$105K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003384	+0.054%	$57K	$693K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003381	−0.020%	$20K	$104K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003386	+0.113%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003380	−0.064%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003392	+0.290%	$80K	$117K	30x	as long as short
Extended 1000BONK-USDlong	+0.0104%	1h	0.000003382	long leg	$22K	$2K	25x
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003378	−0.124%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.300%	$566	—	100x	as long as short
Hyperliquid kBONK	+0.0760%	1h	0.000003389	+0.202%	$10.1M	$6.9M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1134%	1h	0.000003387	+0.142%	$206K	$185K	50x	as long as short