Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h +0.001%

Price spread now: BloFin against OKX0.000%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on OKX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.248%+$25 on $10k

Price spread, last 3 days (all we have)−0.233%−$23 · spread now 0.000%, 7d avg +0.021%

Together, before fees+0.015%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and BloFin is 0.021% cheaper against OKX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.021%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.248%, 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	OKX BONK-USDT-SWAP	0.000003359	0.0100	pay 0.0100% / 8h	1h 28m	$2.4M	$7.7M	20x
Short	BloFin 1000BONK-USDT	0.000003359	−0.0140	pay 0.0070% / 4h	1h 28m	$1.0M	$13.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$50.4
Price spread: 0.000% → +0.021%: −$2.14
Slippage, 4 orders: −$37.39
Fee OKX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$111.93
Costs to cover: 0.594%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; BloFin: live order book, 5 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, 4 min ago	2.98 bp	15.4 bp −$15	75.7 bp −$757	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	4.46 bp	14.1 bp −$14	24.0 bp −$240	61.7 bp −$6,167	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	−0.0248%	1h	0.000003340	−0.566%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDTshort	−0.0140%	4h	0.000003359	0.000%	$1.0M	$13.3M	75x
Orderly PERP_1000BONK_USDC	−0.0078%	4h	0.000003359	0.000%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003359	−0.003%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003351	−0.250%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003358	−0.030%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.531%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003356	−0.087%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003359	0.000%	$189K	$300K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003358	−0.024%	$64K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003355	−0.119%	$113K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003358	−0.030%	$15.1M	$51.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003358	−0.039%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003359	long leg	$2.4M	$7.7M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003356	−0.089%	$742K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003359	0.000%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003357	−0.060%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003356	−0.089%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003356	−0.089%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003361	+0.060%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003352	−0.206%	$301K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003362	+0.089%	$57K	$699K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003357	−0.045%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003361	+0.060%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003356	−0.089%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003358	−0.033%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003357	−0.060%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0115%	4h	0.000003382	+0.685%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.688%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0925%	1h	0.000003366	+0.208%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0964%	1h	0.000003360	+0.042%	$204K	$149K	50x	as long as short