Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against OKX−0.030%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$900.903% of the position

Long on OKX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.030%, 7d avg +0.001%

Together, before fees+0.040%+$4 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: BingX is 0.030% cheaper against OKX than usual: you would sell low and buy high, −$3 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	OKX BONK-USDT-SWAP	0.000003369	0.0100	pay 0.0100% / 8h	1h 35m	$2.5M	$7.7M	20x
Short	BingX 1000BONK-USDC	0.000003368	0.0100	get 0.0050% / 4h	1h 35m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against OKX. 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 OKXbpFee BingXbpOrdersPrice spread, now −0.030%Rate

Funding earned: $0
Price spread: −0.030% → +0.001%: −$3.02
Slippage, 4 orders: −$70.34
Fee OKX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$93.36
Costs to cover: 0.903%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; BingX: live order book, 15 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 OKX live order book, 3 min ago	2.96 bp	18.6 bp −$19	78.8 bp −$788	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	4.49 bp	32.7 bp −$33	78.5 bp −$785	400.0 bp −$40.0K	672.1 bp −$336.0K

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	−0.0248%	1h	0.000003358	−0.327%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003368	−0.030%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0075%	4h	0.000003371	+0.059%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0046%	1h	0.000003371	+0.059%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003371	+0.074%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003370	+0.030%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.820%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003372	+0.093%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003372	+0.089%	$196K	$294K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003371	+0.059%	$19K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003369	+0.012%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003370	+0.030%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003371	+0.049%	$15.2M	$51.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003368	−0.030%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003369	long leg	$2.5M	$7.7M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003368	−0.030%	$749K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003370	+0.030%	$10.1M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003368	−0.030%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003367	−0.059%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDCshort	+0.0100%	4h	0.000003368	−0.030%	—	$6.5M	—
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003370	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003374	+0.152%	$313K	$112K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003385	+0.475%	$57K	$698K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003376	+0.208%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003370	+0.030%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003370	+0.028%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003370	+0.030%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0145%	4h	0.000003380	+0.327%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.953%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0929%	1h	0.000003380	+0.327%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0959%	1h	0.000003378	+0.275%	$205K	$149K	50x	as long as short