Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.027%

Price spread now: Bitget against gTrade (Gains Network)+0.422%45s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 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 +$3 a day on $10k at the current rate, and Bitget is 0.422% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$42 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 45 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	gTrade (Gains Network) BONK/USD	0.000003529	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	19m 36s	$24	—	150x
Short	Bitget 1000BONKUSDT	0.000003544	0.0100	get 0.0050% / 4h	2h 19m	$4.5M	$4.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BitgetbpOrdersPrice spread, now +0.422%Rate

Funding earned: $20.88
Price spread: +0.422% → 0.000%: $42.22
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $41.11
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; Bitget: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bitget live order book, 3 min ago	4.28 bp	17.9 bp −$18	41.7 bp −$417	doesn't fit	doesn't fit

gTrade (Gains Network): 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	−0.0136%	1h	0.000003499	−0.853%	$43K	$47K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003545	+0.461%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDlong	L +0.0001% / S +0.0001%	1h	0.000003529	long leg	$24	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.228%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003529	−0.005%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0095%	4h	0.000003528	−0.031%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003525	−0.102%	$42K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003547	+0.505%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003546	+0.479%	$120K	$125K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003545	+0.448%	$18.2M	$71.8M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003543	+0.385%	$11.8M	$22.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003547	+0.507%	$2.8M	$11.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003544	+0.422%	$915K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003546	+0.479%	$10.5M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003546	+0.479%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDTshort	+0.0100%	4h	0.000003544	+0.422%	$4.5M	$4.0M	75x
BingX 1000BONK-USDC	+0.0100%	4h	0.000003544	+0.422%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003509	−0.573%	$327K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003490	−1.108%	$59K	$703K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003537	+0.224%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003529	−0.003%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003524	−0.145%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003543	+0.407%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003526	−0.088%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0115%	4h	0.000003514	−0.428%	$1.0M	$17.9M	75x	as long as short
Lighter 1000BONK	+0.0184%	1h	0.000003551	+0.621%	$249K	$723K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−14.992%	$389	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0601%	1h	0.000003529	−0.003%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1556%	1h	0.000003545	+0.451%	$11.8M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1605%	1h	0.000003537	+0.224%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2631%	1h	0.000003534	+0.143%	$217K	$218K	50x	as long as short