Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Gate against Binance−0.237%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$620.619% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)+0.229%+$23 · spread now −0.237%, 7d avg −0.035%

Together, before fees+0.366%+$37 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: Gate is 0.203% cheaper against Binance than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003369	0.0100	pay 0.0050% / 4h	1h 16m	$15.2M	$51.7M	75x
Short	Gate BONK_USDT	0.000003361	0.0100	get 0.0050% / 4h	1h 16m	$720K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.237%Rate

Funding earned: $0
Price spread: −0.237% → −0.035%: −$20.27
Slippage, 4 orders: −$36.87
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$82.14
Costs to cover: 0.619%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; Gate: live order book, 1 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	1.49 bp	9.8 bp −$10	29.0 bp −$290	171.3 bp −$17.1K	doesn't fit
Sell Gate live order book, 1 min ago	2.98 bp	25.1 bp −$25	95.7 bp −$957	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
Deribit 1000BONK_USDC-PERPETUAL	−0.0345%	1h	0.000003357	−0.356%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003342	−0.801%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003359	−0.297%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0084%	4h	0.000003358	−0.327%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003359	−0.285%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003363	−0.191%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.820%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003366	−0.087%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003363	−0.178%	$189K	$301K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003366	−0.074%	$19K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003361	−0.229%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003363	−0.178%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003369	long leg	$15.2M	$51.7M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003366	−0.089%	$10.2M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003368	−0.030%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003361	−0.237%	$720K	$2.6M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003368	−0.030%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003360	−0.273%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003366	−0.089%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003363	−0.178%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003361	−0.237%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003357	−0.354%	$301K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003360	−0.267%	$57K	$699K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003363	−0.178%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003359	−0.297%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003376	+0.208%	$91K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003366	−0.094%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003357	−0.356%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.953%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0929%	1h	0.000003375	+0.178%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0963%	1h	0.000003364	−0.138%	$204K	$149K	50x	as long as short