Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h +0.002%

Price spread now: BloFin against Nado−0.186%7-day average +0.038% · 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−$89as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.153%+$15 on $10k

Price spread, last 4 days (all we have)−0.399%−$40 · spread now −0.186%, 7d avg +0.038%

Together, before fees−0.246%+ Points / potential airdropNado: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BloFin is 0.224% cheaper against Nado than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.038%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.153%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kBONK-PERP	0.000003496	0.0100	pay 0.0013% / 1h	52m 14s	$36K	$103K	10x
Short	BloFin 1000BONK-USDT	0.000003490	0.0077	get 0.0039% / 4h	3h 52m	$986K	$16.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Nado. 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 NadobpFee BloFinbpOrdersPrice spread, now −0.186%Rate

Funding earned: −$4.8
Price spread: −0.186% → +0.038%: −$22.43
Slippage, 4 orders: −$47.85
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$94.08
Costs to cover: 0.669%
Break-even: never at this rate

Slippage from Nado: live order book, 36 min ago; BloFin: live order book, 7 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, 36 min ago	4.39 bp	20.3 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	2.89 bp	14.6 bp −$15	22.7 bp −$227	65.3 bp −$6,528	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	−0.0312%	1h	0.000003486	−0.300%	$43K	$37K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003481	−0.432%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003496	−0.011%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.364%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDTshort	+0.0077%	4h	0.000003490	−0.186%	$986K	$16.1M	75x
Orderly PERP_1000BONK_USDC	+0.0080%	4h	0.000003498	+0.043%	$30K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003495	−0.045%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003500	+0.100%	$228K	$671K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003492	−0.125%	$81K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003487	−0.272%	$116K	$108K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003498	+0.055%	$16.9M	$60.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003500	+0.089%	$11.4M	$19.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003501	+0.129%	$2.6M	$9.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003494	−0.072%	$863K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003495	−0.043%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003494	−0.086%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003499	+0.072%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003495	−0.043%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003473	−0.675%	$316K	$134K	—	as long as short
Nado kBONK-PERPlong	+0.0100%	1h	0.000003496	long leg	$36K	$103K	10x
SunX BONK-USDT	+0.0100%	4h	0.000003503	+0.186%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003499	+0.072%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003491	−0.157%	$99K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003500	+0.101%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003500	+0.100%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−14.200%	$583	—	100x	as long as short
ApeX Omni 1000BONKUSDT	+0.0206%	1h	0.000003480	−0.472%	$59K	$704K	25x	as long as short
Hyperliquid kBONK	+0.0723%	1h	0.000003501	+0.129%	$10.3M	$4.9M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0894%	1h	0.000003502	+0.157%	$6K	$123K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1085%	1h	0.000003498	+0.043%	$32K	$8K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2394%	1h	0.000003508	+0.322%	$224K	$178K	50x	as long as short