Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0182%/8h= +19.9% APRpaid last 24h +0.091%

Price spread now: ApeX Omni against Orderly+0.118%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on ApeX Omni

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 for this trade now. Funding pays +$5 a day on $10k at the current rate, and ApeX Omni is 0.118% dearer against Orderly than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000BONK_USDC	0.000003395	−0.0082	get 0.0041% / 4h	49m 03s	$29K	$40K	20x
Short	ApeX Omni 1000BONKUSDT	0.000003399	0.0100	get 0.0013% / 1h	49m 03s	$57K	$699K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Orderly. 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 OrderlybpFee ApeX OmnibpOrdersPrice spread, now +0.118%Rate

Funding earned: $38.2
Price spread: +0.118% → 0.000%: $11.78
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $33.98
Costs to cover: 0.160%
Break-even: 0.8 days

Slippage unknown: Orderly: no order-book sample; ApeX Omni: live order book, 29 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 29 min ago	7.43 bp	15.3 bp −$15	110.8 bp −$1,108	doesn't fit	doesn't fit

Orderly: 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-INTX	−0.0456%	1h	0.000003342	−1.561%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003394	−0.029%	$1.0M	$13.8M	75x	as long as short
Orderly PERP_1000BONK_USDClong	−0.0082%	4h	0.000003395	long leg	$29K	$40K	20x
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003394	−0.018%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003396	+0.016%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.564%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0045%	1h	0.000003396	+0.029%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003392	−0.087%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003397	+0.059%	$191K	$298K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003394	−0.029%	$20K	$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	0.000003397	+0.070%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003399	+0.118%	$115K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003397	+0.065%	$15.4M	$52.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003396	+0.029%	$10.3M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003398	+0.088%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003394	−0.029%	$729K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003398	+0.088%	$9.8M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003395	0.000%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003394	−0.029%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003396	+0.029%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003393	−0.057%	$305K	$119K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003399	+0.118%	$57K	$699K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003400	+0.147%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003396	+0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003399	+0.118%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003395	−0.003%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003396	+0.029%	$4K	—	3x	as long as short
Backpack kBONK_USDC_PERP	+0.0196%	1h	0.000003397	+0.059%	$30K	$7K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.635%	$567	—	100x	as long as short
Hyperliquid kBONK	+0.1286%	1h	0.000003403	+0.236%	$10.2M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1442%	1h	0.000003399	+0.133%	$207K	$149K	50x	as long as short