Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.028%

Price spread now: Nado against Variational Omni−0.107%7-day average +0.070% · you buy dearer than you sell

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 3 days (all we have)+0.299%+$30 · spread now −0.107%, 7d avg +0.070%

Together, before fees+0.312%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board+$31 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: Nado is 0.177% cheaper against Variational Omni than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000BONK	0.000003380	0.0100	pay 0.0050% / 4h	1h 37m	$303K	$102K	—
Short	Nado kBONK-PERP	0.000003376	0.0100	get 0.0012% / 1h	37m 05s	$19K	$106K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now −0.107%Rate

Funding earned: $0
Price spread: −0.107% → +0.070%: −$17.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$24.71
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 47 min ago; Nado: live order book, 45 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, 47 min ago	7.40 bp	doesn't fit	63.6 bp −$636	doesn't fit	doesn't fit
Sell Nado live order book, 45 min ago	2.97 bp	14.9 bp −$15	doesn't fit	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	−0.0248%	1h	0.000003372	−0.240%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003376	−0.122%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0076%	4h	0.000003373	−0.210%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0046%	1h	0.000003373	−0.210%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003376	−0.122%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003376	−0.107%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.139%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003375	−0.150%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003376	−0.122%	$196K	$294K	10x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003376	−0.107%	$19K	$106K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003375	−0.146%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003380	−0.003%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003375	−0.151%	$15.2M	$51.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003376	−0.128%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003378	−0.062%	$2.5M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003378	−0.062%	$751K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003379	−0.033%	$10.1M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003378	−0.057%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003378	−0.062%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003376	−0.122%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003379	−0.033%	$30K	$7K	10x	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003380	long leg	$303K	$102K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003385	+0.145%	$57K	$698K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003378	−0.062%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003374	−0.181%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003374	−0.183%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003371	−0.270%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0170%	4h	0.000003381	+0.026%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.246%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0932%	1h	0.000003385	+0.145%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0958%	1h	0.000003382	+0.067%	$205K	$149K	50x	as long as short