Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Backpack against Pacifica+0.089%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Backpack

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.089% dearer against Pacifica than usual: you sell high and buy low, +$9 on $10k if it 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	Pacifica kBONK	0.000003361	0.0100	pay 0.0013% / 1h	16m 50s	$114K	$120K	10x
Short	Backpack kBONK_USDC_PERP	0.000003364	0.0100	get 0.0013% / 1h	16m 50s	$30K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now +0.089%Rate

Funding earned: $0
Price spread: +0.089% → 0.000%: $8.93
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$9.07
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 6 min ago; Backpack: 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 Pacifica live order book, 6 min ago	4.45 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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
Deribit 1000BONK_USDC-PERPETUAL	−0.0344%	1h	0.000003363	+0.060%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003356	−0.149%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003359	−0.060%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0042%	4h	0.000003362	+0.030%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003362	+0.018%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003360	−0.030%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.589%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003361	+0.010%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003363	+0.060%	$199K	$290K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003365	+0.119%	$65K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONKlong	+0.0100%	1h	0.000003361	long leg	$114K	$120K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003361	0.000%	$15.1M	$50.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003358	−0.089%	$10.2M	$16.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003362	+0.030%	$2.5M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003360	−0.030%	$742K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003361	0.000%	$10.2M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003363	+0.065%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.119%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003362	+0.030%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERPshort	+0.0100%	1h	0.000003364	+0.089%	$30K	$7K	10x
Variational Omni 1000BONK	+0.0100%	4h	0.000003370	+0.277%	$303K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003371	+0.298%	$57K	$693K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003360	−0.015%	$19K	$109K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003366	+0.149%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003361	0.000%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003386	+0.744%	$78K	$121K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003360	−0.028%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003364	+0.089%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.741%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0749%	1h	0.000003367	+0.179%	$9.9M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1141%	1h	0.000003367	+0.189%	$205K	$148K	50x	as long as short