Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against KuCoin−0.051%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$1000.997% of the position

Long on KuCoin Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 7 days+0.100%+$10 · spread now −0.051%, 7d avg −0.025%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.026% cheaper against KuCoin than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003352	0.0100	pay 0.0050% / 4h	46m 30s	$2.5M	$9.7M	75x
Short	Gate BONK_USDT	0.000003350	0.0100	get 0.0050% / 4h	46m 30s	$811K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against KuCoin. 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 KuCoinbpFee GatebpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → −0.025%: −$2.6
Slippage, 4 orders: −$72.73
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$102.33
Costs to cover: 0.997%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Gate: live order book, 1 min ago.

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 KuCoin live order book, 2 min ago	1.49 bp	23.0 bp −$23	371.0 bp −$3,710	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	1.49 bp	23.2 bp −$23	107.8 bp −$1,078	doesn't fit	doesn't fit

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	−0.0320%	1h	0.000003340	−0.349%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003352	+0.020%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003350	−0.048%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.318%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0049%	1h	0.000003350	−0.051%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0070%	4h	0.000003349	−0.081%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003349	−0.082%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003354	+0.069%	$222K	$667K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003352	+0.009%	$26K	$97K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003353	+0.042%	$78K	$250K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003352	+0.009%	$112K	$106K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003357	+0.148%	$16.1M	$58.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003356	+0.143%	$10.7M	$18.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003353	+0.039%	$2.5M	$8.6M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003350	−0.051%	$811K	$2.7M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003352	+0.009%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003352	long leg	$2.5M	$9.7M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003350	−0.051%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003350	−0.051%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003359	+0.215%	$306K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003350	−0.051%	$56K	$705K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003355	+0.098%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003351	−0.021%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003361	+0.277%	$95K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003352	−0.002%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003349	−0.081%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0106%	4h	0.000003354	+0.069%	$956K	$14.9M	75x	as long as short
Backpack kBONK_USDC_PERP	+0.0157%	1h	0.000003355	+0.098%	$29K	$7K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−10.493%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0783%	1h	0.000003360	+0.248%	$9.9M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2510%	1h	0.000003357	+0.170%	$217K	$176K	50x	as long as short