Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.020%

Price spread now: MEXC against gTrade (Gains Network)−0.042%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 MEXC

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. MEXC is 0.042% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 33 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	0.000003362	L 0.0000% / S +0.0001%	get 0.0000% / 1h	26m 03s	$1K	—	150x
Short	MEXC 1000BONK_USDT	0.000003361	0.0100	get 0.0050% / 4h	26m 03s	$9.7M	$6.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.042%Rate

Funding earned: $21.05
Price spread: −0.042% → 0.000%: −$4.16
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $6.88
Costs to cover: 0.100%
Break-even: 4.7 days

Slippage unknown: gTrade (Gains Network): no order-book sample; MEXC: 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 MEXC live order book, 2 min ago	1.48 bp	5.3 bp −$5	11.8 bp −$118	57.5 bp −$5,755	126.8 bp −$63.4K

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	−0.0456%	1h	0.000003342	−0.607%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003370	+0.226%	$1.0M	$13.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0070%	4h	0.000003362	−0.012%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USDlong	L 0.0000% / S +0.0001%	1h	0.000003362	long leg	$1K	—	150x
dYdX BONK-USD	0.0000%	1h	0.000003367	+0.125%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003363	+0.018%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.629%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003361	−0.039%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003365	+0.077%	$189K	$300K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003365	+0.077%	$65K	$251K	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	0.000003366	+0.107%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003362	−0.012%	$15.2M	$52.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003361	−0.042%	$10.2M	$16.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003363	+0.018%	$2.4M	$7.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003362	−0.012%	$718K	$2.6M	50x	as long as short
MEXC 1000BONK_USDTshort	+0.0100%	4h	0.000003361	−0.042%	$9.7M	$6.7M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003362	0.000%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003363	+0.018%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003362	−0.012%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003364	+0.048%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003363	+0.021%	$303K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003370	+0.226%	$57K	$703K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003363	+0.033%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003366	+0.107%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003362	−0.012%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003389	+0.791%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003361	−0.045%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003360	−0.071%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.778%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.1252%	1h	0.000003369	+0.196%	$10.1M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1455%	1h	0.000003368	+0.180%	$205K	$150K	50x	as long as short