Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h +0.244%

Price spread now: HTX against GMX+16.733%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 HTX

What this pair did over the last

the charts below follow

Funding, last 4 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. HTX is 16.733% dearer against GMX than usual: you sell high and buy low (spread +16.733% now, against zero (this spread has no 7-day history yet)): +$1,673 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0196% / S −0.3950%	pay 0.0025% / 1h	55m 36s	$534	—	100x
Short	HTX BONK-USDT	0.000003502	0.0100	get 0.0050% / 4h	2h 55m	$100K	$136K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +16.733%Rate

Funding earned: −$20.18
Price spread: +16.733% → 0.000%: $1,673.33
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: $1,629.15
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; HTX: live order book, 36 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 HTX live order book, 36 min ago	58.88 bp	67.8 bp −$68	doesn't fit	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	−0.0096%	1h	0.000003510	+17.000%	$47K	$94K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003513	+17.117%	$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
BloFin 1000BONK-USDT	+0.0044%	4h	0.000003515	+17.167%	$1.1M	$20.1M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003476	+15.859%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003474	+15.817%	$64K	$142K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003484	+16.124%	$48K	$282K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003484	+16.133%	$116K	$161K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003480	+15.993%	$17.9M	$91.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003475	+15.847%	$12.3M	$27.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003477	+15.900%	$3.0M	$15.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003480	+16.000%	$920K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003480	+16.000%	$11.0M	$10.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003489	+16.300%	$2.9M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003473	+15.767%	$4.5M	$5.5M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003479	+15.967%	—	$5.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003497	+16.561%	$341K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003500	+16.667%	$59K	$697K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003498	+16.600%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003505	+16.833%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003500	+16.667%	$3K	$8K	10x	as long as short
HTX BONK-USDTshort	+0.0100%	4h	0.000003502	+16.733%	$100K	$136K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003478	+15.932%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003496	+16.533%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0120%	1h	0.000003491	+16.367%	$245K	$735K	10x	as long as short
GMX BONK/USD [ETH-USDC]long	L +0.0196% / S −0.3950%	1h	0.000003000	long leg	$534	—	100x
Deribit 1000BONK_USDC-PERPETUAL	+0.0322%	1h	0.000003499	+16.633%	$24K	$162K	10x	as long as short
Hyperliquid kBONK	+0.0442%	1h	0.000003480	+16.000%	$11.8M	$8.5M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1370%	1h	0.000003503	+16.767%	$54K	$24K	10x	as long as short
dYdX BONK-USD	+0.1580%	1h	0.000003480	+16.000%	$13K	$10K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1809%	1h	0.000003505	+16.833%	$178K	$273K	50x	as long as short