Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0236%/8h= −25.8% APRpaid last 24h −0.162%

Price spread now: Coinbase International against SunX−0.400%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Coinbase International

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 against this trade now: funding costs −$7 a day on $10k at the current rate, and Coinbase International is 0.400% cheaper against SunX than usual: you would sell low and buy high (−$40 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BONK-USDT	0.000003497	0.0100	pay 0.0050% / 4h	2h 23m	$2K	$13K	20x
Short	Coinbase International 1000BONK-PERP-INTX	0.000003483	−0.0136	pay 0.0017% / 1h	23m 48s	$43K	$47K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.400%Rate

Funding earned: −$49.56
Price spread: −0.400% → 0.000%: −$40.03
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$107.59
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SunX: no order-book sample; Coinbase International: 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 SunX no order-book sample	—	—	—	—	—
Sell Coinbase International no order-book sample	—	—	—	—	—

SunX and Coinbase International: 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-INTXshort	−0.0136%	1h	0.000003483	−0.400%	$43K	$47K	50x
dYdX BONK-USD	0.0000%	1h	0.000003486	−0.304%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003493	−0.112%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.377%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003491	−0.159%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0093%	4h	0.000003498	+0.029%	$30K	$53K	20x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003495	−0.046%	$58K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003489	−0.229%	$116K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003494	−0.081%	$17.9M	$71.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003489	−0.223%	$11.5M	$22.3M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003491	−0.172%	$2.8M	$11.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003494	−0.086%	$902K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003492	−0.143%	$10.3M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003494	−0.074%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003490	−0.200%	$4.5M	$3.9M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003495	−0.057%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003487	−0.288%	$324K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003494	−0.086%	$59K	$703K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003492	−0.143%	$42K	$114K	10x	as long as short
SunX BONK-USDTlong	+0.0100%	4h	0.000003497	long leg	$2K	$13K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003502	+0.143%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003509	+0.343%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003491	−0.171%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003496	−0.029%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0119%	4h	0.000003502	+0.143%	$1.0M	$17.8M	75x	as long as short
Lighter 1000BONK	+0.0144%	1h	0.000003505	+0.229%	$246K	$721K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−14.212%	$385	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0322%	1h	0.000003498	+0.029%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1570%	1h	0.000003497	0.000%	$11.6M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1578%	1h	0.000003502	+0.143%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2651%	1h	0.000003508	+0.307%	$215K	$218K	50x	as long as short