Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.029%

Price spread now: BingX against Injective+5.589%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BingX

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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and BingX is 5.589% dearer against Injective than usual: you sell high and buy low: +$559 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BONK/USDC PERP	0.000003274	0.0033	pay 0.0004% / 1h	58m 54s	$3K	$57	5.5x
Short	BingX 1000BONK-USDC	0.000003457	0.0100	get 0.0050% / 4h	1h 58m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now +5.589%Rate

Funding earned: $14
Price spread: +5.589% → 0.000%: $558.95
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: $562.93
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BingX: live order book, 5 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 5 min ago	4.34 bp	22.9 bp −$23	71.2 bp −$712	434.9 bp −$43.5K	710.9 bp −$355.4K

Injective: 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 exchanges

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	−0.0056%	1h	0.000003453	+5.467%	$45K	$91K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003454	+5.510%	$24	—	150x	as long as short
Injective BONK/USDC PERPlong	+0.0033%	1h	0.000003274	long leg	$3K	$57	5.5x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003451	+5.411%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003456	+5.559%	$244K	$735K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003451	+5.422%	$68K	$133K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003459	+5.648%	$47K	$218K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003458	+5.620%	$115K	$150K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003459	+5.648%	$17.7M	$89.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003456	+5.559%	$12.2M	$26.3M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003457	+5.589%	$3.0M	$14.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003456	+5.559%	$919K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003458	+5.620%	$10.9M	$10.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003456	+5.559%	$2.9M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003453	+5.467%	$4.4M	$5.2M	75x	as long as short
BingX 1000BONK-USDCshort	+0.0100%	4h	0.000003457	+5.589%	—	$6.5M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003452	+5.443%	$335K	$126K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003457	+5.589%	$58K	$694K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003456	+5.559%	$29K	$47K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003459	+5.651%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003453	+5.467%	$2K	$10K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003461	+5.712%	$99K	$138K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003454	+5.509%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003457	+5.589%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0149%	4h	0.000003456	+5.559%	$1.1M	$19.7M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−8.369%	$527	—	100x	as long as short
Hyperliquid kBONK	+0.0465%	1h	0.000003457	+5.589%	$11.8M	$8.3M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0619%	1h	0.000003455	+5.528%	$24K	$162K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0954%	1h	0.000003457	+5.589%	$54K	$25K	10x	as long as short
dYdX BONK-USD	+0.1435%	1h	0.000003455	+5.534%	$13K	$12K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1644%	1h	0.000003458	+5.631%	$176K	$253K	50x	as long as short