Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bitget against Gate+0.030%7-day average −0.002% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$920.922% of the position

Long on Gate Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.030%, 7d avg −0.002%

Together, before fees+0.012%+$1 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: Bitget is 0.031% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BONK_USDT	0.000003388	0.0100	pay 0.0050% / 4h	3h 20m	$732K	$2.6M	50x
Short	Bitget 1000BONKUSDT	0.000003389	0.0100	get 0.0050% / 4h	3h 20m	$4.3M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → −0.002%: $3.12
Slippage, 4 orders: −$65.23
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$89.11
Costs to cover: 0.922%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Bitget: live order book, 2 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, 2 min ago	2.95 bp	21.5 bp −$21	99.0 bp −$990	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	4.44 bp	19.2 bp −$19	40.0 bp −$400	doesn't fit	doesn't fit

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	−0.0376%	1h	0.000003382	−0.177%	$44K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003382	−0.177%	$1.0M	$14.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0048%	4h	0.000003383	−0.148%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003384	−0.124%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003383	−0.135%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.365%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003382	−0.178%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003380	−0.221%	$18K	$101K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003386	−0.060%	$65K	$262K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003383	−0.148%	$112K	$120K	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	0.000003390	+0.059%	$15.4M	$53.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003390	+0.062%	$10.6M	$17.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003388	0.000%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDTlong	+0.0100%	4h	0.000003388	long leg	$732K	$2.6M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003390	+0.059%	$10.0M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003383	−0.136%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDTshort	+0.0100%	4h	0.000003389	+0.030%	$4.3M	$3.1M	75x
BingX 1000BONK-USDC	+0.0100%	4h	0.000003390	+0.059%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003384	−0.120%	$304K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003380	−0.236%	$57K	$707K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003388	0.000%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003385	−0.089%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003386	−0.059%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003391	+0.080%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003383	−0.148%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.452%	$565	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0316%	1h	0.000003386	−0.059%	$30K	$7K	10x	as long as short
Lighter 1000BONK	+0.0320%	1h	0.000003390	+0.059%	$321K	$441K	10x	as long as short
Hyperliquid kBONK	+0.0626%	1h	0.000003392	+0.118%	$9.7M	$7.4M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0637%	1h	0.000003387	−0.030%	$2K	$110K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1469%	1h	0.000003392	+0.128%	$211K	$165K	50x	as long as short