Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0101%/8h= −11.0% APRpaid last 24h −0.026%

Price spread now: gTrade (Gains Network) against Binance−0.109%7-day average — · you buy dearer than you sell

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

Long on Binance Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.109% cheaper against Binance than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003589	0.0100	pay 0.0050% / 4h	1h 16m	$18.5M	$80.7M	75x
Short	gTrade (Gains Network) BONK/USD	0.000003585	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	16m 51s	$25	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.109%Rate

Funding earned: −$21.17
Price spread: −0.109% → 0.000%: −$10.87
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$52.04
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 11 min ago; gTrade (Gains Network): 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 Binance live order book, 11 min ago	1.38 bp	12.3 bp −$12	30.0 bp −$300	167.3 bp −$16.7K	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0016%	1h	0.000003580	−0.251%	$45K	$62K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003585	−0.100%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDshort	L +0.0001% / S +0.0001%	1h	0.000003585	−0.109%	$25	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.777%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003587	−0.058%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003586	−0.070%	$54K	$123K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003593	+0.104%	$60K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003589	0.000%	$119K	$139K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003589	long leg	$18.5M	$80.7M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003588	−0.020%	$12.4M	$24.9M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003587	−0.056%	$3.0M	$13.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003589	0.000%	$976K	$3.4M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003594	+0.139%	$11.8M	$9.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003590	+0.039%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003576	−0.362%	$4.6M	$4.8M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003589	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003598	+0.247%	$341K	$147K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003596	+0.195%	$61K	$707K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003586	−0.084%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003595	+0.167%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003589	0.000%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003593	+0.111%	$102K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003589	0.000%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003585	−0.111%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0112%	4h	0.000003589	0.000%	$1.1M	$19.3M	75x	as long as short
Lighter 1000BONK	+0.0152%	1h	0.000003584	−0.139%	$250K	$747K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.411%	$548	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0587%	1h	0.000003588	−0.028%	$35K	$175K	10x	as long as short
Hyperliquid kBONK	+0.1280%	1h	0.000003593	+0.111%	$12.3M	$7.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1721%	1h	0.000003597	+0.223%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2998%	1h	0.000003601	+0.340%	$222K	$222K	50x	as long as short