Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0556%/8h= +60.9% APRpaid last 24h +0.169%

Price spread now: MEXC against Coinbase International+1.227%7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 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 +$17 a day on $10k at the current rate, and MEXC is 1.227% dearer against Coinbase International than usual: you sell high and buy low: +$123 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	Coinbase International 1000BONK-PERP-INTX	0.000003342	−0.0456	get 0.0057% / 1h	41m 18s	$42K	$22K	50x
Short	MEXC 1000BONK_USDT	0.000003383	0.0100	get 0.0050% / 4h	41m 18s	$9.8M	$6.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now +1.227%Rate

Funding earned: $116.76
Price spread: +1.227% → 0.000%: $122.68
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $229.44
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Coinbase International: no order-book sample; MEXC: live order book, 2 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	1.48 bp	3.8 bp −$4	11.1 bp −$111	64.5 bp −$6,446	129.7 bp −$64.8K

Coinbase International: 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-INTXlong	−0.0456%	1h	0.000003342	long leg	$42K	$22K	50x
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003386	+1.317%	$1.0M	$13.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0080%	4h	0.000003386	+1.317%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003384	+1.254%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003386	+1.303%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003382	+1.197%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.035%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003384	+1.259%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003384	+1.257%	$189K	$299K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003384	+1.257%	$19K	$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	0.000003389	+1.392%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003387	+1.346%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003384	+1.265%	$15.4M	$52.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003385	+1.299%	$10.3M	$16.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003381	+1.167%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003382	+1.197%	$733K	$2.6M	50x	as long as short
MEXC 1000BONK_USDTshort	+0.0100%	4h	0.000003383	+1.227%	$9.8M	$6.7M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003385	+1.275%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003381	+1.167%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003383	+1.227%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003408	+1.977%	$306K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003408	+1.975%	$58K	$700K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003390	+1.436%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003382	+1.197%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003388	+1.376%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003381	+1.164%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003384	+1.257%	$4K	—	3x	as long as short
Backpack kBONK_USDC_PERP	+0.0182%	1h	0.000003385	+1.287%	$30K	$7K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.233%	$566	—	100x	as long as short
Hyperliquid kBONK	+0.1294%	1h	0.000003393	+1.526%	$10.2M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1446%	1h	0.000003388	+1.387%	$207K	$150K	50x	as long as short