Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.080%

Price spread now: Orderly against ApeX Omni+0.566%70s7-day average — · you sell dearer than you buy

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

Long on ApeX Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.520%−$52 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.566% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.566% now, against zero (this spread has no 7-day history yet)): +$57 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.520% in total) that is about 7.6 days. The two prices were read 70 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	ApeX Omni 1000BONKUSDT	0.000003357	0.0100	pay 0.0013% / 1h	37m 54s	$57K	$706K	25x
Short	Orderly PERP_1000BONK_USDC	0.000003376	0.0071	get 0.0036% / 4h	37m 54s	$29K	$56K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against ApeX 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 ApeX OmnibpFee OrderlybpOrdersPrice spread, now +0.566%Rate

Funding earned: −$6.06
Price spread: +0.566% → 0.000%: $56.6
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $34.54
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: ApeX Omni: live order book, 21 min ago; Orderly: 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 ApeX Omni live order book, 21 min ago	7.44 bp	17.2 bp −$17	97.9 bp −$979	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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-INTX	−0.0320%	1h	0.000003374	+0.506%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003368	+0.339%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003377	+0.602%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.472%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0043%	4h	0.000003364	+0.209%	$955K	$15.1M	75x	as long as short
Orderly PERP_1000BONK_USDCshort	+0.0071%	4h	0.000003376	+0.566%	$29K	$56K	20x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003380	+0.684%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003376	+0.566%	$224K	$668K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003380	+0.700%	$29K	$99K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003377	+0.598%	$78K	$250K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003367	+0.298%	$112K	$108K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003378	+0.626%	$16.3M	$58.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003376	+0.572%	$10.7M	$18.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003374	+0.506%	$2.5M	$8.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003373	+0.477%	$793K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003378	+0.626%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003377	+0.584%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003372	+0.447%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003377	+0.596%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003351	−0.182%	$306K	$133K	—	as long as short
ApeX Omni 1000BONKUSDTlong	+0.0100%	1h	0.000003357	long leg	$57K	$706K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003383	+0.775%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003376	+0.566%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003381	+0.715%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003374	+0.496%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003371	+0.417%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−10.634%	$564	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0243%	1h	0.000003379	+0.655%	$30K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0639%	1h	0.000003379	+0.655%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0692%	1h	0.000003381	+0.715%	$9.9M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2493%	1h	0.000003381	+0.721%	$218K	$177K	50x	as long as short