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% APRpaid last 24h +0.005%

Price spread now: OKX against MEXC+0.263%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

Price spread, last 7 days−0.269%−$27 · spread now +0.263%, 7d avg +0.003%

Together, before fees−0.124%−$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: OKX is 0.260% dearer against MEXC than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC 1000BONK_USDT	0.000003421	0.0100	pay 0.0050% / 4h	2h 04m	$9.6M	$6.9M	125x
Short	OKX BONK-USDT-SWAP	0.000003430	0.0100	get 0.0100% / 8h	6h 04m	$2.5M	$8.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.263%Rate

Funding earned: $0
Price spread: +0.263% → +0.003%: $26.04
Slippage, 4 orders: −$31.91
Fee MEXC: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$15.87
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; OKX: live order book, 3 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, 3 min ago	1.46 bp	2.3 bp −$2	10.2 bp −$102	64.8 bp −$6,479	127.4 bp −$63.7K
Sell OKX live order book, 3 min ago	2.91 bp	16.6 bp −$17	64.4 bp −$644	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	0.000003427	+0.175%	$44K	$27K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003423	+0.068%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003425	+0.117%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003424	+0.094%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDC	+0.0020%	4h	0.000003425	+0.117%	$29K	$58K	20x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.297%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003424	+0.085%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003429	+0.234%	$224K	$678K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003422	+0.029%	$27K	$112K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003430	+0.263%	$81K	$268K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003424	+0.088%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003428	+0.218%	$16.0M	$57.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003427	+0.175%	$10.9M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAPshort	+0.0100%	8h	0.000003430	+0.263%	$2.5M	$8.4M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003426	+0.146%	$864K	$2.7M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003421	long leg	$9.6M	$6.9M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003426	+0.132%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003425	+0.117%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003427	+0.175%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003430	+0.260%	$313K	$134K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003432	+0.322%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003432	+0.322%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003426	+0.146%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003431	+0.292%	$97K	$150K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003427	+0.182%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003425	+0.117%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.306%	$572	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0340%	1h	0.000003426	+0.146%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1016%	1h	0.000003436	+0.438%	$10.2M	$6.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2050%	1h	0.000003436	+0.452%	$222K	$173K	50x	as long as short