Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.4240%/8h= +464.3% APRpaid last 24h +0.446%

Price spread now: GMX against Gate−12.613%7-day average — · you buy dearer than you sell

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

Long on Gate Short on GMX

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. GMX is 12.613% cheaper against Gate than usual: you would sell low and buy high (spread −12.613% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,261 on $10k: about 9.9 days of funding at the current rate (+$127 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BONK_USDT	0.000003433	0.0100	pay 0.0050% / 4h	2h 29m	$757K	$2.6M	50x
Short	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0197% / S −0.4340%	get 0.0542% / 1h	29m 16s	$575	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −12.613%Rate

Funding earned: $890.37
Price spread: −12.613% → 0.000%: −$1,261.29
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$397.92
Costs to cover: 0.270%
Break-even: 10.1 days

Slippage unknown: Gate: live order book, 4 min ago; GMX: 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 Gate live order book, 4 min ago	2.91 bp	27.3 bp −$27	84.4 bp −$844	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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	−1.864%	$43K	$26K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0007%	4h	0.000003435	+0.058%	$29K	$59K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003443	+0.303%	$13K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003431	−0.058%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003430	−0.099%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.632%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003431	−0.045%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003432	−0.015%	$26K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003432	−0.024%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003444	+0.320%	$114K	$123K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003436	+0.084%	$16.1M	$56.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003431	−0.073%	$10.9M	$17.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003436	+0.087%	$2.5M	$8.3M	20x	as long as short
Gate BONK_USDTlong	+0.0100%	4h	0.000003433	long leg	$757K	$2.6M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003431	−0.058%	$9.5M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003435	+0.061%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003436	+0.087%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003431	−0.058%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003437	+0.130%	$313K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003433	0.000%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003446	+0.379%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003431	−0.058%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003445	+0.350%	$97K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003429	−0.114%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003432	−0.029%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0128%	1h	0.000003437	+0.117%	$232K	$670K	10x	as long as short
GMX BONK/USD [ETH-USDC]short	L +0.0197% / S −0.4340%	1h	0.000003000	−12.613%	$575	—	100x
Backpack kBONK_USDC_PERP	+0.0354%	1h	0.000003445	+0.350%	$31K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0960%	1h	0.000003443	+0.291%	$10.2M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2048%	1h	0.000003441	+0.227%	$215K	$165K	50x	as long as short