Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Nado against OKX+0.154%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$690.688% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.984%+$98 · spread now +0.154%, 7d avg −0.004%

Together, before fees+0.958%+ Points / potential airdropNado: Active · farm board+$96 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: Nado is 0.158% dearer against OKX than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003564	0.0100	pay 0.0100% / 8h	39m 57s	$3.0M	$14.6M	20x
Short	Nado kBONK-PERP	0.000003569	0.0100	get 0.0013% / 1h	39m 57s	$64K	$134K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.154%Rate

Funding earned: $0
Price spread: +0.154% → −0.004%: $15.78
Slippage, 4 orders: −$51.81
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$53.02
Costs to cover: 0.688%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Nado: live order book, 33 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	2.78 bp	14.2 bp −$14	54.9 bp −$549	doesn't fit	doesn't fit
Sell Nado live order book, 33 min ago	2.82 bp	20.8 bp −$21	doesn't fit	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	−0.0040%	1h	0.000003563	−0.028%	$43K	$64K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003570	+0.176%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003568	+0.101%	$25	—	150x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0030%	1h	0.000003568	+0.112%	$35K	$164K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.137%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003564	−0.003%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003567	+0.073%	$59K	$318K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003574	+0.281%	$119K	$145K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003565	+0.035%	$18.4M	$85.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003563	−0.017%	$12.4M	$26.0M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003564	long leg	$3.0M	$14.6M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003561	−0.084%	$997K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003560	−0.112%	$11.7M	$9.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003561	−0.090%	$3.0M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003558	−0.168%	$4.6M	$5.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003561	−0.084%	—	$5.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003571	+0.205%	$336K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003579	+0.421%	$60K	$706K	25x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003569	+0.154%	$64K	$134K	10x
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003567	+0.084%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003572	+0.224%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003565	+0.028%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003577	+0.365%	$101K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003561	−0.083%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003567	+0.084%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0139%	4h	0.000003579	+0.421%	$1.1M	$20.1M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.825%	$545	—	100x	as long as short
Lighter 1000BONK	+0.0584%	1h	0.000003570	+0.168%	$248K	$761K	10x	as long as short
Hyperliquid kBONK	+0.1086%	1h	0.000003567	+0.084%	$12.2M	$8.1M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1674%	1h	0.000003567	+0.084%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4453%	1h	0.000003579	+0.412%	$182K	$262K	50x	as long as short