Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.021%

Price spread now: Nado against Gate+0.214%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$750.750% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now +0.214%, 7d avg +0.031%

Together, before fees+0.003%+ Points / potential airdropNado: Active · farm board$0 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: Nado is 0.183% dearer against Gate than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BONK_USDT	0.000003512	0.0100	pay 0.0050% / 4h	2h 21m	$907K	$3.1M	50x
Short	Nado kBONK-PERP	0.000003519	0.0100	get 0.0012% / 1h	21m 01s	$42K	$114K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.214%Rate

Funding earned: $0
Price spread: +0.214% → +0.031%: $18.28
Slippage, 4 orders: −$52.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$56.69
Costs to cover: 0.750%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Nado: live order book, 62 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	4.28 bp	20.0 bp −$20	84.7 bp −$847	doesn't fit	doesn't fit
Sell Nado live order book, 62 min ago	2.85 bp	12.0 bp −$12	doesn't fit	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	−0.0136%	1h	0.000003499	−0.370%	$43K	$47K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003509	−0.075%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003511	−0.026%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.777%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003517	+0.155%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0095%	4h	0.000003509	−0.085%	$30K	$53K	20x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003519	+0.214%	$42K	$114K	10x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003518	+0.170%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003515	+0.085%	$117K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003515	+0.087%	$18.0M	$71.6M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003512	−0.009%	$11.7M	$22.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003521	+0.256%	$2.8M	$11.7M	20x	as long as short
Gate BONK_USDTlong	+0.0100%	4h	0.000003512	long leg	$907K	$3.1M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003521	+0.256%	$10.4M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003515	+0.080%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003514	+0.057%	$4.5M	$4.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003512	0.000%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003509	−0.089%	$327K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003490	−0.626%	$59K	$703K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003516	+0.114%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003511	−0.028%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003514	+0.057%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003519	+0.185%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003510	−0.057%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0115%	4h	0.000003514	+0.057%	$1.0M	$17.9M	75x	as long as short
Lighter 1000BONK	+0.0176%	1h	0.000003514	+0.057%	$246K	$722K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−14.579%	$388	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0320%	1h	0.000003511	−0.028%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1552%	1h	0.000003523	+0.313%	$11.7M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1597%	1h	0.000003517	+0.142%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2642%	1h	0.000003520	+0.223%	$216K	$218K	50x	as long as short