Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Bybit against gTrade (Gains Network)−0.029%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

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

Funding pays, the price is against you. Bybit is 0.029% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 23 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BONK/USD	0.000003462	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	56m 42s	$24	—	150x
Short	Bybit 1000BONKUSDT	0.000003462	0.0100	get 0.0050% / 4h	3h 56m	$11.2M	$19.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.029%Rate

Funding earned: $20.88
Price spread: −0.029% → 0.000%: −$2.89
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$3
Costs to cover: 0.210%
Break-even: 8.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	2.89 bp	13.2 bp −$13	30.4 bp −$304	186.7 bp −$18.7K	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	−0.0312%	1h	0.000003467	+0.130%	$43K	$36K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003463	+0.024%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDlong	L +0.0001% / S +0.0001%	1h	0.000003462	long leg	$24	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.444%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0080%	4h	0.000003462	−0.014%	$30K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003460	−0.060%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0090%	4h	0.000003466	+0.101%	$975K	$15.9M	75x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003469	+0.188%	$226K	$671K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003468	+0.164%	$80K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003466	+0.101%	$116K	$108K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003468	+0.155%	$16.8M	$60.5M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003462	−0.029%	$11.2M	$19.1M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003466	+0.101%	$2.6M	$9.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003462	−0.014%	$839K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003462	−0.014%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003466	+0.107%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003464	+0.043%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003467	+0.130%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003464	+0.040%	$316K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003461	−0.043%	$58K	$704K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003461	−0.029%	$34K	$102K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003472	+0.274%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003466	+0.101%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003471	+0.245%	$98K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003462	−0.027%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003462	−0.014%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.357%	$578	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0460%	1h	0.000003469	+0.188%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0601%	1h	0.000003473	+0.303%	$10.2M	$4.9M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0616%	1h	0.000003467	+0.130%	$6K	$123K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2415%	1h	0.000003478	+0.436%	$225K	$177K	50x	as long as short