Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.105%

Price spread now: Pacifica against Orderly+0.059%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 Pacifica

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—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Pacifica is 0.059% dearer against Orderly than usual: you sell high and buy low: +$6 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	0.000003374	−0.0036	get 0.0018% / 4h	2h 36m	$29K	$41K	20x
Short	Pacifica kBONK	0.000003376	0.0100	get 0.0013% / 1h	36m 03s	$116K	$116K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.059%Rate

Funding earned: $28.65
Price spread: +0.059% → 0.000%: $5.93
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $20.58
Costs to cover: 0.140%
Break-even: 2.0 days

Slippage unknown: Orderly: no order-book sample; Pacifica: live order book, 51 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 Pacifica live order book, 51 min ago	4.42 bp	16.9 bp −$17	doesn't fit	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	−0.0320%	1h	0.000003367	−0.207%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003378	+0.119%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDClong	−0.0036%	4h	0.000003374	long leg	$29K	$41K	20x
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003371	−0.083%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003376	+0.049%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003372	−0.059%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.964%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003371	−0.077%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003370	−0.119%	$199K	$288K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003373	−0.015%	$20K	$103K	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	0.000003378	+0.111%	$67K	$252K	10x	as long as short
Pacifica kBONKshort	+0.0100%	1h	0.000003376	+0.059%	$116K	$116K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003370	−0.119%	$15.2M	$49.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003368	−0.172%	$10.2M	$16.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003372	−0.059%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003369	−0.148%	$742K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003368	−0.178%	$9.9M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003370	−0.119%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003369	−0.148%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003372	−0.059%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003370	−0.119%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003373	−0.044%	$303K	$105K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003375	+0.030%	$57K	$692K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003379	+0.148%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003369	−0.148%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003376	+0.059%	$80K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003369	−0.144%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003375	+0.030%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.085%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0724%	1h	0.000003375	+0.030%	$10.0M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1138%	1h	0.000003376	+0.051%	$205K	$156K	50x	as long as short