Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Bybit against Binance−0.059%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 7 days+0.040%+$4 · spread now −0.059%, 7d avg −0.008%

Together, before fees+0.149%+$15 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: Bybit is 0.050% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003401	0.0100	pay 0.0050% / 4h	2h 46m	$16.0M	$55.4M	75x
Short	Bybit 1000BONKUSDT	0.000003399	0.0100	get 0.0050% / 4h	2h 46m	$10.7M	$17.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.008%: −$5.04
Slippage, 4 orders: −$31.67
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$57.71
Costs to cover: 0.527%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Bybit: live order book, 2 min ago.

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 Binance live order book, 11 min ago	2.95 bp	13.0 bp −$13	26.7 bp −$267	254.8 bp −$25.5K	doesn't fit
Sell Bybit live order book, 2 min ago	1.46 bp	13.9 bp −$14	36.4 bp −$364	211.1 bp −$21.1K	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
Deribit 1000BONK_USDC-PERPETUAL	−0.0338%	1h	0.000003402	+0.029%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0336%	1h	0.000003390	−0.323%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003414	+0.382%	$939K	$14.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0024%	4h	0.000003404	+0.088%	$29K	$49K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003410	+0.265%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003404	+0.076%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.734%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003402	+0.029%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003405	+0.103%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003409	+0.222%	$66K	$253K	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	0.000003409	+0.235%	$113K	$125K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003401	long leg	$16.0M	$55.4M	75x
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003399	−0.059%	$10.7M	$17.6M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003399	−0.059%	$2.5M	$8.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003404	+0.088%	$742K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003400	−0.029%	$9.6M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003400	−0.029%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003401	0.000%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003399	−0.059%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003402	+0.043%	$310K	$127K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003409	+0.235%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003403	+0.059%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003411	+0.294%	$96K	$161K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003399	−0.070%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003404	+0.088%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.791%	$569	—	100x	as long as short
Lighter 1000BONK	+0.0232%	1h	0.000003409	+0.235%	$374K	$499K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0475%	1h	0.000003401	0.000%	$30K	$7K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0532%	1h	0.000003412	+0.323%	$57K	$712K	25x	as long as short
Hyperliquid kBONK	+0.0886%	1h	0.000003408	+0.206%	$10.1M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2063%	1h	0.000003414	+0.393%	$213K	$165K	50x	as long as short