Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0096%/8h= −10.6% APRpaid last 24h +5.467%

Price spread now: SunX against GMX+12.900%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 SunX

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. SunX is 12.900% dearer against GMX than usual: you sell high and buy low (spread +12.900% now, against zero (this spread has no 7-day history yet)): +$1,290 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 15 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 −0.4340%	pay 0.0025% / 1h	56m 38s	$565	—	100x
Short	SunX BONK-USDT	0.000003387	0.0100	get 0.0050% / 4h	3h 56m	$2K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +12.900%Rate

Funding earned: −$20.26
Price spread: +12.900% → 0.000%: $1,290
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $1,249.74
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; SunX: 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 GMX no order-book sample	—	—	—	—	—
Sell SunX no order-book sample	—	—	—	—	—

GMX and SunX: 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	−0.0376%	1h	0.000003381	+12.700%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003385	+12.833%	$1.0M	$14.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0063%	4h	0.000003382	+12.733%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003384	+12.813%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003384	+12.816%	$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
Deribit 1000BONK_USDC-PERPETUAL	+0.0046%	1h	0.000003383	+12.767%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003383	+12.751%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003389	+12.967%	$236K	$338K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003381	+12.717%	$20K	$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 1000BONKUSDT	+0.0100%	4h	0.000003386	+12.857%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003386	+12.867%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003387	+12.895%	$15.6M	$53.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003387	+12.893%	$10.4M	$16.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003384	+12.800%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003386	+12.867%	$728K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003388	+12.933%	$9.9M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003387	+12.910%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003383	+12.767%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003380	+12.667%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003368	+12.268%	$302K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003368	+12.267%	$57K	$703K	25x	as long as short
SunX BONK-USDTshort	+0.0100%	4h	0.000003387	+12.900%	$2K	$12K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003383	+12.767%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003386	+12.867%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003383	+12.762%	$22K	$3K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003379	+12.633%	$4K	—	3x	as long as short
Backpack kBONK_USDC_PERP	+0.0190%	1h	0.000003383	+12.767%	$30K	$7K	10x	as long as short
GMX BONK/USD [ETH-USDC]long	L +0.0196% / S −0.4340%	1h	0.000003000	long leg	$565	—	100x
Hyperliquid kBONK	+0.0709%	1h	0.000003391	+13.033%	$10.0M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1471%	1h	0.000003387	+12.896%	$207K	$156K	50x	as long as short