Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.092%

Price spread now: SoDEX against Orderly0.000%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 SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000BONK_USDC	0.000003349	0.0069	pay 0.0035% / 4h	42m 10s	$29K	$56K	20x
Short	SoDEX 1000BONK-USD	0.000003349	0.0100	get 0.0013% / 1h	42m 10s	$2K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.45
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$7.55
Costs to cover: 0.140%
Break-even: 15.2 days

Slippage unknown: Orderly: no order-book sample; SoDEX: 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 Orderly no order-book sample	—	—	—	—	—
Sell SoDEX no order-book sample	—	—	—	—	—

Orderly and SoDEX: 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	0.000003335	−0.418%	$42K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003350	+0.041%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003351	+0.063%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.239%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0049%	1h	0.000003351	+0.060%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDClong	+0.0069%	4h	0.000003349	long leg	$29K	$56K	20x
BloFin 1000BONK-USDT	+0.0082%	4h	0.000003347	−0.060%	$952K	$14.9M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003349	−0.002%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003352	+0.090%	$223K	$668K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003348	−0.015%	$26K	$97K	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	0.000003352	+0.082%	$77K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003352	+0.090%	$112K	$106K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003350	+0.030%	$16.1M	$58.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003347	−0.060%	$10.6M	$18.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003348	−0.030%	$2.5M	$8.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003350	+0.030%	$811K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003349	0.000%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003354	+0.143%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003348	−0.030%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003350	+0.030%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003348	−0.033%	$305K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003347	−0.060%	$56K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003355	+0.179%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USDshort	+0.0100%	1h	0.000003349	0.000%	$2K	$7K	10x
HTX BONK-USDT	+0.0100%	4h	0.000003358	+0.269%	$95K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003350	+0.019%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003348	−0.030%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−10.421%	$560	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0206%	1h	0.000003349	0.000%	$29K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0701%	1h	0.000003355	+0.179%	$9.9M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2513%	1h	0.000003354	+0.147%	$217K	$177K	50x	as long as short