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% APRpaid last 24h +0.011%

Price spread now: OKX against Binance−0.092%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$600.598% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 7 days+0.080%+$8 · spread now −0.092%, 7d avg −0.006%

Together, before fees+0.237%+$24 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: OKX is 0.087% cheaper against Binance than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003408	0.0100	pay 0.0050% / 4h	3h 31m	$15.4M	$49.3M	75x
Short	OKX BONK-USDT-SWAP	0.000003405	0.0100	get 0.0100% / 8h	3h 31m	$2.5M	$7.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.092%Rate

Funding earned: $0
Price spread: −0.092% → −0.006%: −$8.68
Slippage, 4 orders: −$39.77
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$68.46
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; OKX: 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, 16 min ago	1.49 bp	11.6 bp −$12	30.4 bp −$304	193.0 bp −$19.3K	doesn't fit
Sell OKX live order book, 2 min ago	1.47 bp	15.6 bp −$16	62.1 bp −$621	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
Coinbase International 1000BONK-PERP-INTX	−0.0328%	1h	0.000003404	−0.122%	$44K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003416	+0.230%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0031%	4h	0.000003405	−0.092%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003407	−0.040%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003402	−0.183%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.936%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0043%	1h	0.000003415	+0.201%	$11K	$100K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003405	−0.079%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003407	−0.034%	$200K	$279K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003405	−0.092%	$20K	$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	0.000003404	−0.115%	$65K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003405	−0.092%	$115K	$114K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003408	long leg	$15.4M	$49.3M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003406	−0.048%	$10.3M	$16.0M	50x	as long as short
OKX BONK-USDT-SWAPshort	+0.0100%	8h	0.000003405	−0.092%	$2.5M	$7.6M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003403	−0.151%	$745K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003402	−0.180%	$9.6M	$6.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003406	−0.075%	$2.7M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003405	−0.092%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003406	−0.063%	—	$8.2M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003412	+0.113%	$31K	$6K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003414	+0.158%	$307K	$105K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003411	+0.084%	$58K	$691K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003418	+0.289%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003405	−0.092%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003426	+0.524%	$81K	$117K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003403	−0.147%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003418	+0.289%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.976%	$569	—	100x	as long as short
Hyperliquid kBONK	+0.0597%	1h	0.000003412	+0.113%	$10.1M	$6.9M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1171%	1h	0.000003418	+0.284%	$207K	$181K	50x	as long as short