Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.2766%/8h= +302.9% APRpaid last 24h −0.023%

Price spread now: dYdX against Variational Omni−0.063%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on dYdX

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. dYdX is 0.063% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.063% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2 hours of funding at the current rate (+$83 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000BONK	0.000003452	0.0100	pay 0.0050% / 4h	1h 57m	$335K	$126K	—
Short	dYdX BONK-USD	0.000003450	0.2866	get 0.0358% / 1h	57m 28s	$13K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.063%Rate

Funding earned: $580.86
Price spread: −0.063% → 0.000%: −$6.34
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $564.52
Costs to cover: 0.100%
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 54 min ago; dYdX: 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 Variational Omni RFQ quote, 54 min ago	7.21 bp	doesn't fit	50.5 bp −$505	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
Coinbase International 1000BONK-PERP-INTX	−0.0056%	1h	0.000003453	+0.023%	$45K	$91K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003452	−0.008%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.162%	$3K	$57	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003448	−0.132%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003456	+0.110%	$244K	$735K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003451	−0.020%	$68K	$133K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003451	−0.025%	$47K	$218K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003455	+0.081%	$115K	$150K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003451	−0.046%	$17.7M	$89.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003450	−0.052%	$12.2M	$26.3M	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	0.000003449	−0.092%	$3.0M	$14.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003449	−0.092%	$918K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003449	−0.092%	$10.9M	$10.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003454	+0.052%	$2.9M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003450	−0.063%	$4.4M	$5.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003449	−0.092%	—	$5.0M	—	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003452	long leg	$335K	$126K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003456	+0.110%	$58K	$695K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003455	+0.081%	$29K	$47K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003459	+0.197%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003452	−0.005%	$2K	$10K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003458	+0.168%	$99K	$138K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003451	−0.038%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003457	+0.139%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0149%	4h	0.000003456	+0.110%	$1.1M	$19.7M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−13.099%	$527	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0329%	1h	0.000003454	+0.052%	$24K	$162K	10x	as long as short
Hyperliquid kBONK	+0.0399%	1h	0.000003457	+0.139%	$11.8M	$8.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1144%	1h	0.000003459	+0.197%	$54K	$25K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1644%	1h	0.000003458	+0.162%	$176K	$253K	50x	as long as short
dYdX BONK-USDshort	+0.2866%	1h	0.000003450	−0.063%	$13K	$12K	10x