Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h −0.007%

Price spread now: ApeX Omni against MEXC−0.410%96s7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.479% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)+0.425%+$42 · spread now −0.410%, 7d avg −0.004%

Together, before fees+0.484%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.407% cheaper against MEXC than usual: you would sell low and buy high (spread −0.410% now, against its 7-day average of −0.004%). If the spread goes back, that is −$41 on $10k: about 15 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.060% in total) that is about 48 days. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC 1000BONK_USDT	0.000003656	0.0100	pay 0.0050% / 4h	1h 58m	$11.1M	$8.5M	125x
Short	ApeX Omni 1000BONKUSDT	0.000003641	0.0188	get 0.0023% / 1h	58m 00s	$62K	$706K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.410%Rate

Funding earned: $18.46
Price spread: −0.410% → −0.004%: −$40.68
Slippage, 4 orders: −$37.88
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$70.09
Costs to cover: 0.479%
Break-even: 33.6 days

Slippage from MEXC: live order book, 5 min ago; ApeX Omni: live order book, 51 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 MEXC live order book, 5 min ago	1.37 bp	4.3 bp −$4	14.1 bp −$141	81.3 bp −$8,125	135.1 bp −$67.5K
Sell ApeX Omni live order book, 51 min ago	11.33 bp	20.0 bp −$20	105.9 bp −$1,059	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	−0.0016%	1h	0.000003665	+0.246%	$45K	$53K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003668	+0.336%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003658	+0.066%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−10.449%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003668	+0.325%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003668	+0.342%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003660	+0.109%	$62K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003674	+0.492%	$123K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003654	−0.042%	$18.9M	$76.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003651	−0.126%	$12.3M	$23.6M	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	0.000003662	+0.164%	$3.0M	$13.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003660	+0.109%	$1.0M	$3.2M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003656	long leg	$11.1M	$8.5M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003657	+0.014%	$3.0M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003654	−0.055%	$4.7M	$4.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003654	−0.055%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003633	−0.620%	$337K	$142K	—	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003658	+0.055%	$31K	$53K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003666	+0.274%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003660	+0.109%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003677	+0.574%	$105K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003661	+0.135%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003659	+0.082%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0119%	4h	0.000003662	+0.164%	$1.1M	$19.0M	75x	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0188%	1h	0.000003641	−0.410%	$62K	$706K	25x
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−17.943%	$405	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0297%	1h	0.000003661	+0.137%	$20K	$155K	10x	as long as short
Lighter 1000BONK	+0.0912%	1h	0.000003663	+0.191%	$255K	$734K	10x	as long as short
Hyperliquid kBONK	+0.1479%	1h	0.000003665	+0.246%	$12.2M	$7.1M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1793%	1h	0.000003664	+0.219%	$49K	$18K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2940%	1h	0.000003673	+0.453%	$226K	$219K	50x	as long as short