Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h −0.023%

Price spread now: BloFin against SoDEX−0.177%56s7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. BloFin is 0.177% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.177% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 14 days of funding at the current rate (+$1 a day). The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX 1000BONK-USD	0.000003390	0.0100	pay 0.0013% / 1h	47m 53s	$2K	$9K	10x
Short	BloFin 1000BONK-USDT	0.000003384	0.0142	get 0.0071% / 4h	47m 53s	$1.0M	$19.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against SoDEX. 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 SoDEXbpFee BloFinbpOrdersPrice spread, now −0.177%Rate

Funding earned: $8.75
Price spread: −0.177% → 0.000%: −$17.7
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$28.95
Costs to cover: 0.200%
Break-even: 30.2 days

Slippage unknown: SoDEX: no order-book sample; BloFin: live order book, 4 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 SoDEX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	4.42 bp	17.3 bp −$17	23.7 bp −$237	65.2 bp −$6,524	doesn't fit

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 exchanges

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
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003386	−0.121%	$23	—	150x	as long as short
Coinbase International 1000BONK-PERP-INTX	+0.0032%	1h	0.000003377	−0.383%	$44K	$88K	50x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.422%	$3K	$57	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003386	−0.129%	$4	—	15x	as long as short
dYdX BONK-USD	+0.0086%	1h	0.000003395	+0.151%	$13K	$12K	10x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003395	+0.147%	$227K	$754K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003393	+0.094%	$46K	$210K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003397	+0.206%	$113K	$150K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003394	+0.119%	$17.3M	$90.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003388	−0.059%	$11.7M	$26.8M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003387	−0.088%	$2.9M	$14.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003388	−0.059%	$897K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003392	+0.059%	$10.6M	$11.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003390	+0.006%	$2.8M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003388	−0.059%	$4.3M	$5.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003390	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003389	−0.041%	$320K	$137K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003393	+0.088%	$57K	$693K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003388	−0.059%	$62K	$134K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003386	−0.118%	$29K	$46K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003394	+0.118%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USDlong	+0.0100%	1h	0.000003390	long leg	$2K	$9K	10x
HTX BONK-USDT	+0.0100%	4h	0.000003392	+0.059%	$90K	$152K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003389	−0.019%	$21K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003380	−0.295%	$4K	—	3x	as long as short
BloFin 1000BONK-USDTshort	+0.0142%	4h	0.000003384	−0.177%	$1.0M	$19.7M	75x
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.1287%	1h	0.000003000	−11.504%	$402	—	100x	as long as short
Hyperliquid kBONK	+0.0380%	1h	0.000003394	+0.118%	$11.6M	$8.2M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0636%	1h	0.000003389	−0.029%	$23K	$152K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1188%	1h	0.000003394	+0.118%	$53K	$25K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1407%	1h	0.000003392	+0.060%	$175K	$256K	50x	as long as short