Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: Variational Omni against Nado+0.069%7-day average −0.068% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.310%−$31 · spread now +0.069%, 7d avg −0.068%

Together, before fees−0.323%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board−$32 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: Variational Omni is 0.137% dearer against Nado than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kBONK-PERP	0.000003461	0.0100	pay 0.0013% / 1h	59m 04s	$34K	$102K	10x
Short	Variational Omni 1000BONK	0.000003464	0.0100	get 0.0050% / 4h	3h 59m	$316K	$133K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational 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 Variational OmnibpOrdersPrice spread, now +0.069%Rate

Funding earned: $0
Price spread: +0.069% → −0.068%: $13.71
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $6.71
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Nado: live order book, 29 min ago; Variational Omni: RFQ quote, 60 min ago. Net counts fees only.

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, 29 min ago	4.39 bp	20.3 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 60 min ago	5.95 bp	doesn't fit	47.6 bp −$476	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	−0.0312%	1h	0.000003457	−0.130%	$43K	$36K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003456	−0.148%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003460	−0.055%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.417%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0078%	4h	0.000003459	−0.072%	$30K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003461	−0.016%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003461	−0.014%	$225K	$671K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003467	+0.151%	$80K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003461	−0.014%	$115K	$108K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003459	−0.060%	$16.7M	$60.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003459	−0.064%	$11.2M	$19.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003456	−0.159%	$2.5M	$9.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003459	−0.072%	$838K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003459	−0.072%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003460	−0.052%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003455	−0.188%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003460	−0.043%	—	$4.8M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003464	+0.069%	$316K	$133K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003454	−0.217%	$58K	$704K	25x	as long as short
Nado kBONK-PERPlong	+0.0100%	1h	0.000003461	long leg	$34K	$102K	10x
SunX BONK-USDT	+0.0100%	4h	0.000003464	+0.072%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003459	−0.072%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003469	+0.217%	$98K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003459	−0.071%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003459	−0.072%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0112%	4h	0.000003456	−0.159%	$972K	$15.8M	75x	as long as short
Hyperliquid kBONK	+0.0142%	1h	0.000003463	+0.043%	$10.2M	$4.9M	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.332%	$579	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0268%	1h	0.000003459	−0.072%	$30K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0328%	1h	0.000003461	−0.014%	$6K	$123K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2424%	1h	0.000003464	+0.076%	$224K	$177K	50x	as long as short