Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h −0.045%

Price spread now: Orderly against gTrade (Gains Network)+0.039%7-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 Orderly

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 Orderly is 0.039% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$4 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	gTrade (Gains Network) BONK/USD	0.000003546	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	14m 22s	$24	—	150x
Short	Orderly PERP_1000BONK_USDC	0.000003547	0.0098	get 0.0049% / 4h	2h 14m	$30K	$53K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.039%Rate

Funding earned: $20.52
Price spread: +0.039% → 0.000%: $3.95
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $8.46
Costs to cover: 0.160%
Break-even: 4.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Orderly: 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	0.000003532	−0.384%	$43K	$49K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003536	−0.263%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDlong	L +0.0001% / S +0.0001%	1h	0.000003546	long leg	$24	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.660%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003546	+0.010%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0087%	4h	0.000003540	−0.158%	$1.0M	$18.1M	75x	as long as short
Orderly PERP_1000BONK_USDCshort	+0.0098%	4h	0.000003547	+0.039%	$30K	$53K	20x
Nado kBONK-PERP	+0.0100%	1h	0.000003546	+0.025%	$46K	$115K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003552	+0.191%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003538	−0.214%	$119K	$125K	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	0.000003549	+0.096%	$18.2M	$72.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003547	+0.031%	$11.8M	$22.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003548	+0.068%	$2.8M	$11.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003543	−0.073%	$952K	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003544	−0.045%	$10.5M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003547	+0.028%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003547	+0.039%	$4.5M	$4.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003548	+0.068%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003548	+0.079%	$330K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003557	+0.322%	$60K	$704K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003553	+0.209%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003549	+0.096%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003541	−0.130%	$101K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003548	+0.055%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003548	+0.068%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.388%	$391	—	100x	as long as short
Lighter 1000BONK	+0.0208%	1h	0.000003541	−0.130%	$248K	$723K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0596%	1h	0.000003549	+0.096%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1534%	1h	0.000003553	+0.209%	$11.8M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1617%	1h	0.000003541	−0.130%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2615%	1h	0.000003555	+0.274%	$218K	$218K	50x	as long as short