Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h +1.647%

Price spread now: Binance against GMX+13.722%7-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 Binance

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

The price spread pays, funding is against you. Binance is 13.722% dearer against GMX than usual: you sell high and buy low (spread +13.722% now, against zero (this spread has no 7-day history yet)): +$1,372 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0197% / S −0.4340%	pay 0.0025% / 1h	49m 21s	$571	—	100x
Short	Binance 1000BONKUSDT	0.000003412	0.0100	get 0.0050% / 4h	2h 49m	$16.1M	$55.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +13.722%Rate

Funding earned: −$20.29
Price spread: +13.722% → 0.000%: $1,372.2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $1,329.91
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Binance: live order book, 8 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 Binance live order book, 8 min ago	2.95 bp	10.6 bp −$11	31.8 bp −$318	134.5 bp −$13.4K	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	−0.0336%	1h	0.000003390	+13.000%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003410	+13.667%	$935K	$14.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0026%	4h	0.000003408	+13.600%	$29K	$49K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003409	+13.650%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003409	+13.640%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	+9.133%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0043%	1h	0.000003411	+13.700%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003411	+13.699%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003413	+13.760%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003414	+13.800%	$113K	$125K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDTshort	+0.0100%	4h	0.000003412	+13.722%	$16.1M	$55.3M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003409	+13.633%	$10.7M	$17.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003408	+13.600%	$2.5M	$8.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003412	+13.733%	$717K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003411	+13.700%	$9.8M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003414	+13.783%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003409	+13.633%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003410	+13.667%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003404	+13.466%	$310K	$127K	—	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003415	+13.850%	$27K	$114K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003419	+13.967%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003413	+13.767%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003412	+13.733%	$96K	$161K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003413	+13.756%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003410	+13.667%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]long	L +0.0197% / S −0.4340%	1h	0.000003000	long leg	$571	—	100x
Lighter 1000BONK	+0.0264%	1h	0.000003418	+13.933%	$375K	$497K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0538%	1h	0.000003417	+13.900%	$30K	$7K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0648%	1h	0.000003408	+13.600%	$57K	$711K	25x	as long as short
Hyperliquid kBONK	+0.0886%	1h	0.000003420	+14.000%	$10.1M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2060%	1h	0.000003419	+13.983%	$213K	$165K	50x	as long as short