Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit−0.044%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$680.683% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 7 days+0.031%+$3 · spread now −0.044%, 7d avg −0.005%

Together, before fees+0.045%+$5 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 0.038% cheaper against Bybit than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003445	0.0100	pay 0.0050% / 4h	1h 53m	$12.2M	$26.3M	50x
Short	Gate BONK_USDT	0.000003443	0.0100	get 0.0050% / 4h	1h 53m	$916K	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now −0.044%Rate

Funding earned: $0
Price spread: −0.044% → −0.005%: −$3.82
Slippage, 4 orders: −$42.26
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$72.08
Costs to cover: 0.683%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Gate: 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 Bybit live order book, 3 min ago	2.91 bp	13.1 bp −$13	33.5 bp −$335	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.45 bp	21.1 bp −$21	91.2 bp −$912	doesn't fit	doesn't fit

BONK on 31 exchanges

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	−0.0056%	1h	0.000003447	+0.073%	$45K	$91K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003438	−0.195%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.950%	$3K	$57	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0041%	4h	0.000003446	+0.044%	$1.1M	$19.7M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003439	−0.169%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003446	+0.044%	$244K	$735K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003439	−0.160%	$67K	$133K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003446	+0.057%	$54K	$218K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003444	−0.015%	$114K	$150K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003445	+0.021%	$17.7M	$89.6M	75x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003445	long leg	$12.2M	$26.3M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003441	−0.102%	$3.0M	$14.6M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003443	−0.044%	$916K	$3.3M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003444	−0.015%	$10.8M	$10.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003445	+0.009%	$2.9M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003441	−0.102%	$4.4M	$5.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003443	−0.044%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003440	−0.142%	$335K	$126K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003456	+0.334%	$58K	$695K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003438	−0.189%	$29K	$47K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003449	+0.131%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003440	−0.131%	$2K	$10K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003442	−0.073%	$98K	$137K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003441	−0.091%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003437	−0.218%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−12.905%	$526	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0332%	1h	0.000003440	−0.131%	$24K	$162K	10x	as long as short
Hyperliquid kBONK	+0.0402%	1h	0.000003447	+0.073%	$11.7M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1191%	1h	0.000003446	+0.044%	$54K	$25K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1651%	1h	0.000003444	−0.013%	$175K	$253K	50x	as long as short
dYdX BONK-USD	+0.2640%	1h	0.000003439	−0.161%	$13K	$12K	10x	as long as short