Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.016%

Price spread now: ApeX Omni against Gate−0.493%96s7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$830.827% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 4 days (all we have)+1.513%+$151 · spread now −0.493%, 7d avg +0.024%

Together, before fees+1.462%+$146 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.517% cheaper against Gate than usual: you would sell low and buy high, −$52 on $10k if it goes back to its 7-day average of +0.024%. The two prices were read 96 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	Gate BONK_USDT	0.000003450	0.0100	pay 0.0050% / 4h	2h 27m	$759K	$2.6M	50x
Short	ApeX Omni 1000BONKUSDT	0.000003433	0.0100	get 0.0013% / 1h	27m 49s	$58K	$708K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −0.493%Rate

Funding earned: $0
Price spread: −0.493% → +0.024%: −$51.68
Slippage, 4 orders: −$57.74
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$134.42
Costs to cover: 0.827%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; ApeX Omni: live order book, 41 min ago.

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 Gate live order book, 5 min ago	2.91 bp	27.3 bp −$27	84.4 bp −$844	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 41 min ago	8.78 bp	16.2 bp −$16	110.0 bp −$1,100	doesn't fit	doesn't fit

BONK on 30 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	−0.0336%	1h	0.000003369	−2.348%	$43K	$26K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0007%	4h	0.000003449	−0.029%	$30K	$59K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003438	−0.336%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003449	−0.023%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.101%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003446	−0.117%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003443	−0.188%	$26K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003450	−0.002%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003440	−0.290%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003450	0.000%	$16.2M	$56.5M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003449	−0.041%	$11.0M	$17.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003448	−0.058%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDTlong	+0.0100%	4h	0.000003450	long leg	$759K	$2.6M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003451	+0.029%	$9.5M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003449	−0.043%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003448	−0.058%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003449	−0.029%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003437	−0.363%	$313K	$127K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003433	−0.493%	$58K	$708K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003453	+0.087%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003452	+0.058%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003451	+0.029%	$98K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003447	−0.098%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003449	−0.029%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0120%	1h	0.000003452	+0.058%	$233K	$670K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.043%	$576	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0330%	1h	0.000003452	+0.058%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0366%	1h	0.000003455	+0.145%	$31K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0977%	1h	0.000003456	+0.174%	$10.3M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2035%	1h	0.000003462	+0.336%	$216K	$165K	50x	as long as short