Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1523%/8h= +166.7% APRpaid last 24h +0.032%

Price spread now: Backpack against Bitget+0.507%7-day average — · you sell dearer than you buy

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

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 6 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 for this trade now. Funding pays +$46 a day on $10k at the current rate, and Backpack is 0.507% dearer against Bitget than usual: you sell high and buy low: +$51 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget 1000BONKUSDT	0.000003552	0.0100	pay 0.0050% / 4h	2h 16m	$4.5M	$4.0M	75x
Short	Backpack kBONK_USDC_PERP	0.000003570	0.1623	get 0.0203% / 1h	16m 26s	$47K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.507%Rate

Funding earned: $319.76
Price spread: +0.507% → 0.000%: $50.68
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $348.43
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Bitget: live order book, 2 min ago; Backpack: 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 Bitget live order book, 2 min ago	5.63 bp	15.8 bp −$16	41.0 bp −$410	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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	0.000003567	+0.422%	$44K	$48K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003561	+0.261%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003551	−0.039%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.827%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0072%	4h	0.000003567	+0.422%	$1.0M	$18.2M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003553	+0.041%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0099%	4h	0.000003560	+0.225%	$31K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003549	−0.084%	$46K	$115K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003560	+0.227%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003563	+0.310%	$120K	$125K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003560	+0.225%	$18.3M	$72.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003551	−0.039%	$11.8M	$22.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003550	−0.056%	$2.8M	$11.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003564	+0.338%	$923K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003556	+0.113%	$10.5M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003554	+0.056%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDTlong	+0.0100%	4h	0.000003552	long leg	$4.5M	$4.0M	75x
BingX 1000BONK-USDT	+0.0100%	4h	0.000003562	+0.282%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003509	−1.214%	$327K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003544	−0.225%	$60K	$704K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003570	+0.507%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003564	+0.338%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003561	+0.253%	$101K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003561	+0.240%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003559	+0.197%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.541%	$392	—	100x	as long as short
Lighter 1000BONK	+0.0200%	1h	0.000003567	+0.422%	$250K	$723K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0593%	1h	0.000003561	+0.253%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1541%	1h	0.000003558	+0.169%	$11.8M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERPshort	+0.1623%	1h	0.000003570	+0.507%	$47K	$17K	10x
Kraken Futures PF_BONKUSD	+0.2600%	1h	0.000003576	+0.686%	$219K	$218K	50x	as long as short