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 +0.005%

Price spread now: Gate against MEXC−0.087%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$550.553% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.087%, 7d avg −0.025%

Together, before fees+0.229%+$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: Gate is 0.062% cheaper against MEXC than usual: you would sell low and buy high, −$6 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	MEXC 1000BONK_USDT	0.000003452	0.0100	pay 0.0050% / 4h	2h 26m	$9.6M	$6.9M	125x
Short	Gate BONK_USDT	0.000003449	0.0100	get 0.0050% / 4h	2h 26m	$761K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.087%Rate

Funding earned: $0
Price spread: −0.087% → −0.025%: −$6.17
Slippage, 4 orders: −$40.28
Fee MEXC: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$61.45
Costs to cover: 0.553%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 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 MEXC live order book, 1 min ago	1.45 bp	4.0 bp −$4	11.9 bp −$119	81.4 bp −$8,136	134.5 bp −$67.2K
Sell Gate live order book, 1 min ago	2.90 bp	30.5 bp −$31	95.8 bp −$958	doesn't fit	doesn't fit

BONK on 30 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	−0.0336%	1h	0.000003369	−2.404%	$43K	$26K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0007%	4h	0.000003451	−0.029%	$30K	$59K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003449	−0.076%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003453	+0.017%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.156%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003455	+0.085%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003455	+0.101%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003455	+0.080%	$67K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003451	−0.029%	$115K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003452	+0.008%	$16.2M	$56.6M	75x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003451	−0.041%	$11.0M	$17.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003452	0.000%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003449	−0.087%	$761K	$2.6M	50x
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003452	long leg	$9.6M	$6.9M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003451	−0.029%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003450	−0.058%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003452	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003437	−0.421%	$313K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003439	−0.377%	$58K	$707K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003460	+0.232%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003453	+0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003440	−0.348%	$97K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003450	−0.070%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003450	−0.058%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0120%	1h	0.000003456	+0.116%	$233K	$671K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.094%	$577	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0329%	1h	0.000003453	+0.029%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0378%	1h	0.000003455	+0.087%	$31K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0980%	1h	0.000003460	+0.232%	$10.3M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2034%	1h	0.000003464	+0.353%	$216K	$165K	50x	as long as short