Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.2701%/8h= +295.7% APRpaid last 24h +0.656%

Price spread now: GMX against Binance−14.487%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 GMX

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

Funding pays, the price is against you. GMX is 14.487% cheaper against Binance than usual: you would sell low and buy high (spread −14.487% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,449 on $10k: about 18 days of funding at the current rate (+$81 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003508	0.0100	pay 0.0050% / 4h	2h 50m	$17.8M	$69.9M	75x
Short	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0194% / S −0.2801%	get 0.0350% / 1h	50m 10s	$388	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −14.487%Rate

Funding earned: $567.15
Price spread: −14.487% → 0.000%: −$1,448.7
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$903.55
Costs to cover: 0.220%
Break-even: 18.2 days

Slippage unknown: Binance: live order book, 7 min ago; GMX: 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, 7 min ago	1.42 bp	10.0 bp −$10	30.8 bp −$308	164.9 bp −$16.5K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0136%	1h	0.000003509	+0.022%	$44K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003510	+0.050%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003508	−0.018%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.677%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003509	+0.020%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0088%	4h	0.000003506	−0.064%	$30K	$53K	20x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003511	+0.079%	$248K	$704K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003511	+0.093%	$42K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003508	−0.012%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003510	+0.050%	$117K	$120K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003508	long leg	$17.8M	$69.9M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003502	−0.172%	$11.5M	$21.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003505	−0.092%	$2.7M	$11.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003506	−0.064%	$916K	$3.0M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003507	−0.035%	$9.8M	$8.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003511	+0.067%	$3.0M	$10.3M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003506	−0.064%	$4.5M	$3.8M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003507	−0.035%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003490	−0.523%	$324K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003490	−0.520%	$59K	$705K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003512	+0.107%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003507	−0.035%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003512	+0.107%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003509	+0.023%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003504	−0.121%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0145%	4h	0.000003491	−0.491%	$1.0M	$17.3M	75x	as long as short
GMX BONK/USD [ETH-USDC]short	L +0.0194% / S −0.2801%	1h	0.000003000	−14.487%	$388	—	100x
Deribit 1000BONK_USDC-PERPETUAL	+0.0891%	1h	0.000003509	+0.022%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1582%	1h	0.000003522	+0.392%	$11.9M	$6.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1706%	1h	0.000003500	−0.235%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2646%	1h	0.000003514	+0.152%	$216K	$218K	50x	as long as short