Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0099%/8h= +10.9% APRpaid last 24h −0.045%

Price spread now: Orderly against gTrade (Gains Network)−0.117%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Orderly is 0.117% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.117% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 3.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BONK/USD	0.000003684	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	41m 12s	$25	—	150x
Short	Orderly PERP_1000BONK_USDC	0.000003680	0.0100	get 0.0050% / 4h	1h 41m	$32K	$52K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee OrderlybpOrdersPrice spread, now −0.117%Rate

Funding earned: $20.88
Price spread: −0.117% → 0.000%: −$11.67
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$6.79
Costs to cover: 0.160%
Break-even: 9.3 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Orderly: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Orderly: 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	−0.0016%	1h	0.000003683	−0.035%	$45K	$55K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003672	−0.325%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDlong	L +0.0001% / S +0.0001%	1h	0.000003684	long leg	$25	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−11.136%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003689	+0.125%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003643	−1.107%	$53K	$120K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003687	+0.063%	$62K	$302K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003676	−0.225%	$123K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003688	+0.100%	$19.1M	$77.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003686	+0.041%	$12.5M	$24.0M	50x	as long as short

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	0.000003683	−0.035%	$3.1M	$13.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003682	−0.062%	$1.0M	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003687	+0.073%	$11.6M	$8.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003683	−0.035%	$3.0M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003680	−0.117%	$4.7M	$4.5M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003681	−0.090%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003623	−1.654%	$339K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003639	−1.230%	$61K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDCshort	+0.0100%	4h	0.000003680	−0.117%	$32K	$52K	20x
SunX BONK-USDT	+0.0100%	4h	0.000003691	+0.182%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003682	−0.062%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003690	+0.155%	$104K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003684	−0.017%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003683	−0.035%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0130%	4h	0.000003682	−0.062%	$1.1M	$19.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.3950%	1h	0.000003000	−18.573%	$563	—	100x	as long as short
Lighter 1000BONK	+0.0216%	1h	0.000003686	+0.046%	$255K	$741K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.1108%	1h	0.000003686	+0.046%	$26K	$165K	10x	as long as short
Hyperliquid kBONK	+0.1216%	1h	0.000003690	+0.155%	$12.7M	$7.6M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1696%	1h	0.000003693	+0.236%	$57K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2920%	1h	0.000003697	+0.358%	$228K	$219K	50x	as long as short