Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Bybit against Bitget−0.125%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$710.709% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days+0.124%+$12 · spread now −0.125%, 7d avg +0.013%

Together, before fees+0.084%+$8 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: Bybit is 0.138% cheaper against Bitget than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget 1000BONKUSDT	0.000003608	0.0100	pay 0.0050% / 4h	1h 30m	$4.6M	$4.6M	75x
Short	Bybit 1000BONKUSDT	0.000003603	0.0100	get 0.0050% / 4h	1h 30m	$12.4M	$24.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.125%Rate

Funding earned: $0
Price spread: −0.125% → +0.013%: −$13.75
Slippage, 4 orders: −$47.95
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$84.7
Costs to cover: 0.709%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Bybit: live order book, 8 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 Bitget live order book, 2 min ago	4.14 bp	20.1 bp −$20	52.3 bp −$523	doesn't fit	doesn't fit
Sell Bybit live order book, 8 min ago	1.36 bp	14.4 bp −$14	36.0 bp −$360	153.1 bp −$15.3K	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	−0.0016%	1h	0.000003613	+0.139%	$46K	$62K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003607	−0.016%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003608	+0.006%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.257%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003606	−0.057%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003607	−0.028%	$55K	$123K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003607	−0.015%	$60K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003604	−0.111%	$120K	$134K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003605	−0.079%	$18.6M	$79.4M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003603	−0.125%	$12.4M	$24.5M	50x

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	0.000003619	+0.305%	$3.0M	$13.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003607	−0.028%	$954K	$3.4M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003609	+0.028%	$12.0M	$9.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003609	+0.039%	$2.9M	$10.8M	75x	as long as short
Bitget 1000BONKUSDTlong	+0.0100%	4h	0.000003608	long leg	$4.6M	$4.6M	75x
BingX 1000BONK-USDT	+0.0100%	4h	0.000003608	0.000%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003605	−0.087%	$338K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003644	+0.998%	$61K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003608	0.000%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003614	+0.166%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003609	+0.028%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003613	+0.139%	$102K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003605	−0.093%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003606	−0.055%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0132%	4h	0.000003609	+0.028%	$1.1M	$19.2M	75x	as long as short
Lighter 1000BONK	+0.0168%	1h	0.000003611	+0.083%	$252K	$746K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.851%	$551	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0304%	1h	0.000003610	+0.055%	$25K	$165K	10x	as long as short
Hyperliquid kBONK	+0.1233%	1h	0.000003613	+0.139%	$12.4M	$7.8M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1752%	1h	0.000003618	+0.277%	$56K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2980%	1h	0.000003623	+0.410%	$223K	$221K	50x	as long as short