Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h +7.374%

Price spread now: Aster against GMX+12.255%51s7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 12.255% dearer against GMX than usual: you sell high and buy low (spread +12.255% now, against zero (this spread has no 7-day history yet)): +$1,225 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 14 months. The two prices were read 51 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	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0196% / S −0.4340%	pay 0.0025% / 1h	12m 38s	$562	—	100x
Short	Aster 1000BONKUSDT	0.000003368	0.0100	get 0.0050% / 4h	1h 12m	$65K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +12.255%Rate

Funding earned: −$20.25
Price spread: +12.255% → 0.000%: $1,225.5
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: $1,185.25
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Aster: live order book, 4 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	10.39 bp	20.7 bp −$21	296.5 bp −$2,965	doesn't fit	doesn't fit

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 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	−0.0248%	1h	0.000003342	+11.400%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003361	+12.033%	$1.0M	$13.4M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0084%	4h	0.000003359	+11.967%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0048%	1h	0.000003360	+12.000%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003361	+12.043%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003362	+12.079%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	+9.133%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003359	+11.968%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003365	+12.167%	$189K	$301K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003360	+12.017%	$19K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDTshort	+0.0100%	4h	0.000003368	+12.255%	$65K	$251K	10x
Pacifica kBONK	+0.0100%	1h	0.000003365	+12.167%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003364	+12.133%	$15.2M	$51.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003364	+12.147%	$10.2M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003365	+12.167%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003363	+12.100%	$720K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003365	+12.167%	$10.1M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003364	+12.137%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003360	+12.000%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003365	+12.167%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003363	+12.100%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003359	+11.969%	$302K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003364	+12.133%	$57K	$700K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003364	+12.133%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003362	+12.067%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003371	+12.367%	$91K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003363	+12.094%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003360	+12.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]long	L +0.0196% / S −0.4340%	1h	0.000003000	long leg	$562	—	100x
Hyperliquid kBONK	+0.0927%	1h	0.000003369	+12.300%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0961%	1h	0.000003371	+12.361%	$205K	$149K	50x	as long as short