Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.3850%/8h= +421.5% APRpaid last 24h +0.689%

Price spread now: GMX against HTX−18.853%7-day average — · you buy dearer than you sell

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

Long on HTX Short on GMX

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

Funding pays, the price is against you. GMX is 18.853% cheaper against HTX than usual: you would sell low and buy high (spread −18.853% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,885 on $10k: about 16 days of funding at the current rate (+$115 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BONK-USDT	0.000003697	0.0100	pay 0.0050% / 4h	1h 36m	$105K	$131K	30x
Short	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0197% / S −0.3950%	get 0.0494% / 1h	36m 59s	$564	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against HTX. 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 HTXbpFee GMXbpOrdersPrice spread, now −18.853%Rate

Funding earned: $808.45
Price spread: −18.853% → 0.000%: −$1,885.31
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$1,100.86
Costs to cover: 0.240%
Break-even: 16.5 days

Slippage unknown: HTX: live order book, 4 min ago; GMX: 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 HTX live order book, 4 min ago	13.54 bp	200.2 bp −$200	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.0016%	1h	0.000003673	−0.649%	$45K	$55K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003695	−0.045%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003680	−0.471%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−11.442%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003696	−0.016%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0088%	4h	0.000003692	−0.135%	$1.1M	$19.5M	75x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003697	−0.014%	$55K	$121K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003687	−0.265%	$62K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003687	−0.270%	$123K	$134K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003681	−0.433%	$19.1M	$78.3M	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	0.000003682	−0.414%	$12.6M	$24.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003684	−0.352%	$3.1M	$13.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003688	−0.243%	$1.0M	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003688	−0.243%	$12.7M	$8.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003685	−0.335%	$3.0M	$10.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003682	−0.406%	$4.7M	$4.5M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003681	−0.433%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003680	−0.464%	$345K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003680	−0.460%	$62K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003695	−0.054%	$32K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003699	+0.054%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003692	−0.135%	$2K	$7K	10x	as long as short
HTX BONK-USDTlong	+0.0100%	4h	0.000003697	long leg	$105K	$131K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003684	−0.349%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003689	−0.216%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]short	L +0.0197% / S −0.3950%	1h	0.000003000	−18.853%	$564	—	100x
Lighter 1000BONK	+0.0256%	1h	0.000003691	−0.162%	$256K	$744K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0833%	1h	0.000003698	+0.027%	$26K	$165K	10x	as long as short
Hyperliquid kBONK	+0.1253%	1h	0.000003692	−0.135%	$12.7M	$7.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1783%	1h	0.000003695	−0.054%	$57K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2910%	1h	0.000003710	+0.355%	$229K	$221K	50x	as long as short