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 +0.015%

Price spread now: ApeX Omni against Nado−0.164%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$660.657% of the position

Long on Nado Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.164%, 7d avg −0.005%

Together, before fees+0.075%+ Points / potential airdropNado: Active · farm board+$7 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: ApeX Omni is 0.159% cheaper against Nado than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kBONK-PERP	0.000003352	0.0100	pay 0.0012% / 1h	42m 43s	$26K	$97K	10x
Short	ApeX Omni 1000BONKUSDT	0.000003347	0.0100	get 0.0013% / 1h	42m 43s	$56K	$706K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpFee ApeX OmnibpOrdersPrice spread, now −0.164%Rate

Funding earned: $0
Price spread: −0.164% → −0.005%: −$15.88
Slippage, 4 orders: −$48.72
Fee Nado: 3.5 bp × 2 orders: −$7
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$81.6
Costs to cover: 0.657%
Break-even: 27383679022457.8 days

Slippage from Nado: live order book, 71 min ago; ApeX Omni: live order book, 16 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 Nado live order book, 71 min ago	1.46 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 16 min ago	7.44 bp	15.2 bp −$15	100.1 bp −$1,001	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	0.000003335	−0.522%	$42K	$33K	50x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0049%	1h	0.000003348	−0.134%	$2K	$110K	10x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003350	−0.064%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003353	+0.018%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.342%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0069%	4h	0.000003349	−0.104%	$29K	$56K	20x	as long as short
BloFin 1000BONK-USDT	+0.0082%	4h	0.000003347	−0.164%	$952K	$14.9M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003352	−0.002%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003353	+0.015%	$223K	$668K	10x	as long as short
Nado kBONK-PERPlong	+0.0100%	1h	0.000003352	long leg	$26K	$97K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003352	−0.023%	$77K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003360	+0.224%	$112K	$106K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003355	+0.075%	$16.1M	$58.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003350	−0.075%	$10.6M	$18.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003349	−0.104%	$2.5M	$8.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003350	−0.075%	$812K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003348	−0.134%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003350	−0.072%	$2.5M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003348	−0.134%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003349	−0.104%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003348	−0.138%	$305K	$133K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003347	−0.164%	$56K	$706K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003356	+0.104%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003351	−0.045%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003370	+0.522%	$95K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003347	−0.160%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003349	−0.104%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−10.515%	$561	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0206%	1h	0.000003349	−0.104%	$29K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0704%	1h	0.000003356	+0.104%	$9.9M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2513%	1h	0.000003355	+0.064%	$217K	$177K	50x	as long as short