Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h −0.172%

Price spread now: Coinbase International against OKX−0.258%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Coinbase International is 0.258% cheaper against OKX than usual: you would sell low and buy high (−$26 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003483	0.0100	pay 0.0100% / 8h	3h 54m	$2.6M	$9.4M	20x
Short	Coinbase International 1000BONK-PERP-INTX	0.000003474	−0.0312	pay 0.0039% / 1h	54m 48s	$43K	$37K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.258%Rate

Funding earned: −$86.52
Price spread: −0.258% → 0.000%: −$25.84
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$132.36
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Coinbase International: no order-book sample. 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 OKX live order book, 3 min ago	1.44 bp	19.6 bp −$20	75.8 bp −$758	doesn't fit	doesn't fit
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-INTXshort	−0.0312%	1h	0.000003474	−0.258%	$43K	$37K	50x
dYdX BONK-USD	0.0000%	1h	0.000003479	−0.103%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003481	−0.055%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.001%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0064%	4h	0.000003484	+0.029%	$980K	$16.0M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0080%	4h	0.000003481	−0.057%	$30K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003478	−0.131%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003488	+0.144%	$227K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003481	−0.057%	$34K	$102K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003482	−0.042%	$80K	$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	0.000003480	−0.086%	$116K	$108K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003484	+0.029%	$16.8M	$60.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003482	−0.037%	$11.3M	$19.2M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003483	long leg	$2.6M	$9.4M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003483	0.000%	$847K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003485	+0.057%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003484	+0.037%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003487	+0.115%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003483	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003473	−0.290%	$316K	$134K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003492	+0.258%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003486	+0.086%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003487	+0.115%	$99K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003487	+0.116%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003483	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.867%	$581	—	100x	as long as short
ApeX Omni 1000BONKUSDT	+0.0335%	1h	0.000003462	−0.603%	$58K	$705K	25x	as long as short
Backpack kBONK_USDC_PERP	+0.0559%	1h	0.000003489	+0.172%	$31K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0612%	1h	0.000003485	+0.057%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.0691%	1h	0.000003489	+0.172%	$10.3M	$4.9M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2406%	1h	0.000003490	+0.208%	$225K	$177K	50x	as long as short