Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against OKX−0.088%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$91as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$880.885% of the position

Long on OKX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.088%, 7d avg −0.008%

Together, before fees+0.067%+$7 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: Gate is 0.079% cheaper against OKX than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003426	0.0100	pay 0.0100% / 8h	4h 27m	$2.5M	$9.0M	20x
Short	Gate BONK_USDT	0.000003423	0.0100	get 0.0050% / 4h	27m 27s	$817K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.088%Rate

Funding earned: $0
Price spread: −0.088% → −0.008%: −$7.94
Slippage, 4 orders: −$63.5
Fee OKX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$96.43
Costs to cover: 0.885%
Break-even: never at this rate

Slippage from OKX: live order book, 6 min ago; Gate: 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, 6 min ago	1.47 bp	18.8 bp −$19	82.3 bp −$823	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.94 bp	23.6 bp −$24	112.0 bp −$1,120	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	−0.0320%	1h	0.000003420	−0.175%	$43K	$34K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003420	−0.164%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003424	−0.053%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.437%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0042%	1h	0.000003424	−0.058%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0073%	4h	0.000003426	0.000%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003425	−0.031%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003428	+0.058%	$224K	$672K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003423	−0.101%	$79K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003426	0.000%	$114K	$109K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003428	+0.047%	$16.6M	$59.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003421	−0.146%	$10.8M	$18.7M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003426	long leg	$2.5M	$9.0M	20x
Gate BONK_USDTshort	+0.0100%	4h	0.000003423	−0.088%	$817K	$2.7M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003424	−0.058%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003421	−0.137%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003422	−0.117%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003428	+0.058%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003399	−0.776%	$309K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003422	−0.117%	$58K	$706K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003423	−0.088%	$31K	$101K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003437	+0.321%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003423	−0.088%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003434	+0.234%	$97K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003423	−0.083%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003427	+0.029%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0126%	4h	0.000003421	−0.146%	$962K	$15.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.434%	$572	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0336%	1h	0.000003425	−0.029%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0755%	1h	0.000003432	+0.175%	$10.1M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2455%	1h	0.000003433	+0.194%	$222K	$177K	50x	as long as short