Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.029%

Price spread now: Pacifica against Nado+0.044%7-day average −0.001% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$560.555% of the position

Long on Nado Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.029%+$3 on $10k

Price spread, last 3 days (all we have)−0.305%−$31 · spread now +0.044%, 7d avg −0.001%

Together, before fees−0.276%+ Points / potential airdropNado: Active · Pacifica: Active · farm board−$28 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: Pacifica is 0.045% dearer against Nado than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kBONK-PERP	0.000003415	0.0100	pay 0.0012% / 1h	14m 24s	$18K	$101K	10x
Short	Pacifica kBONK	0.000003417	0.0100	get 0.0013% / 1h	14m 24s	$115K	$122K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.044%Rate

Funding earned: $0
Price spread: +0.044% → −0.001%: $4.46
Slippage, 4 orders: −$40.54
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$51.08
Costs to cover: 0.555%
Break-even: 17438851093187.3 days

Slippage from Nado: live order book, 58 min ago; Pacifica: live order book, 58 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, 58 min ago	2.99 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 58 min ago	5.97 bp	10.2 bp −$10	doesn't fit	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	−0.0376%	1h	0.000003371	−1.303%	$43K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003413	−0.073%	$1.0M	$14.5M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0040%	4h	0.000003415	−0.015%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003415	−0.009%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003415	−0.001%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.143%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003413	−0.059%	$4	—	15x	as long as short
Nado kBONK-PERPlong	+0.0100%	1h	0.000003415	long leg	$18K	$101K	10x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003412	−0.104%	$65K	$253K	10x	as long as short
Pacifica kBONKshort	+0.0100%	1h	0.000003417	+0.044%	$115K	$122K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003417	+0.057%	$15.6M	$53.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003419	+0.097%	$10.8M	$17.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003413	−0.073%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003413	−0.073%	$734K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003411	−0.132%	$10.0M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003413	−0.073%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003411	−0.132%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003417	+0.044%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003401	−0.425%	$305K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003389	−0.776%	$57K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003418	+0.073%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003412	−0.102%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003411	−0.132%	$94K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003414	−0.051%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003411	−0.132%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.165%	$571	—	100x	as long as short
Lighter 1000BONK	+0.0328%	1h	0.000003421	+0.161%	$354K	$474K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0337%	1h	0.000003412	−0.102%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0351%	1h	0.000003414	−0.044%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0605%	1h	0.000003420	+0.132%	$9.7M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1455%	1h	0.000003424	+0.238%	$213K	$165K	50x	as long as short