Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: ApeX Omni against Variational Omni−0.358%88s7-day average +0.058% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.010%+$1 on $10k

Price spread, last 4 days (all we have)+0.426%+$43 · spread now −0.358%, 7d avg +0.058%

Together, before fees+0.436%+ Points / potential airdropVariational Omni: Active · farm board+$44 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.416% cheaper against Variational Omni than usual: you would sell low and buy high, −$42 on $10k if it goes back to its 7-day average of +0.058%. The two prices were read 88 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	Variational Omni 1000BONK	0.000003590	0.0100	pay 0.0050% / 4h	3h 07m	$333K	$140K	—
Short	ApeX Omni 1000BONKUSDT	0.000003577	0.0100	get 0.0013% / 1h	7m 54s	$60K	$707K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.358%Rate

Funding earned: $0
Price spread: −0.358% → +0.058%: −$41.58
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$51.58
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 46 min ago; ApeX Omni: live order book, 46 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 Variational Omni RFQ quote, 46 min ago	5.77 bp	doesn't fit	46.2 bp −$462	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 46 min ago	5.72 bp	14.0 bp −$14	115.5 bp −$1,155	doesn't fit	doesn't fit

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	−0.0312%	1h	0.000003569	−0.580%	$45K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003565	−0.681%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003564	−0.731%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.798%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0067%	4h	0.000003558	−0.887%	$1.0M	$17.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0080%	4h	0.000003567	−0.636%	$31K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003564	−0.709%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003566	−0.650%	$43K	$111K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003570	−0.546%	$75K	$279K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003566	−0.664%	$122K	$113K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003569	−0.580%	$18.0M	$66.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003565	−0.689%	$11.8M	$20.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003569	−0.580%	$2.7M	$10.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003564	−0.720%	$924K	$2.9M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003571	−0.525%	$9.9M	$7.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003565	−0.681%	$3.0M	$10.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003566	−0.664%	$4.6M	$3.5M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003565	−0.692%	—	$6.5M	—	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003590	long leg	$333K	$140K	—
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003577	−0.358%	$60K	$707K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003573	−0.469%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003565	−0.692%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003569	−0.580%	$101K	$127K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003568	−0.621%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003566	−0.664%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−16.431%	$393	—	100x	as long as short
Lighter 1000BONK	+0.0216%	1h	0.000003569	−0.580%	$248K	$698K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0872%	1h	0.000003569	−0.580%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.1019%	1h	0.000003574	−0.441%	$11.8M	$5.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1537%	1h	0.000003572	−0.497%	$49K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2353%	1h	0.000003568	−0.596%	$229K	$195K	50x	as long as short