Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Bybit against MEXC−0.127%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on MEXC Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.097%+$10 on $10k

Price spread, last 7 days+0.133%+$13 · spread now −0.127%, 7d avg −0.002%

Together, before fees+0.230%+$23 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: Bybit is 0.125% cheaper against MEXC than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC 1000BONK_USDT	0.000003547	0.0100	pay 0.0050% / 4h	2h 19m	$10.5M	$8.2M	125x
Short	Bybit 1000BONKUSDT	0.000003542	0.0100	get 0.0050% / 4h	2h 19m	$11.8M	$22.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.127%Rate

Funding earned: $0
Price spread: −0.127% → −0.002%: −$12.52
Slippage, 4 orders: −$30.33
Fee MEXC: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$53.85
Costs to cover: 0.413%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	1.42 bp	5.3 bp −$5	12.3 bp −$123	79.7 bp −$7,967	139.1 bp −$69.5K
Sell Bybit live order book, 4 min ago	1.43 bp	14.9 bp −$15	35.2 bp −$352	193.9 bp −$19.4K	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	−0.0136%	1h	0.000003546	−0.028%	$44K	$48K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003545	−0.046%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003545	−0.056%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.697%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003545	−0.044%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0098%	4h	0.000003546	−0.028%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003543	−0.099%	$43K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003549	+0.049%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003546	−0.028%	$120K	$125K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003550	+0.085%	$18.2M	$71.8M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003542	−0.127%	$11.8M	$22.4M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003547	0.000%	$2.8M	$11.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003544	−0.085%	$915K	$3.1M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003547	long leg	$10.5M	$8.2M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003542	−0.130%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003549	+0.056%	$4.5M	$4.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003547	0.000%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003509	−1.075%	$327K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003490	−1.607%	$59K	$703K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003553	+0.169%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003550	+0.085%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003524	−0.648%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003546	−0.027%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003548	+0.028%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0115%	4h	0.000003514	−0.930%	$1.0M	$17.9M	75x	as long as short
Lighter 1000BONK	+0.0184%	1h	0.000003551	+0.113%	$249K	$723K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.421%	$391	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0878%	1h	0.000003551	+0.113%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1556%	1h	0.000003553	+0.169%	$11.8M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1605%	1h	0.000003537	−0.282%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2612%	1h	0.000003559	+0.348%	$218K	$218K	50x	as long as short