Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0097%/8h= −10.6% APRpaid last 24h +1.120%

Price spread now: Aster against GMX+13.924%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 13.924% dearer against GMX than usual: you sell high and buy low (spread +13.924% now, against zero (this spread has no 7-day history yet)): +$1,392 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 16 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0197% / S −0.4340%	pay 0.0025% / 1h	17m 25s	$571	—	100x
Short	Aster 1000BONKUSDT	0.000003418	0.0100	get 0.0050% / 4h	17m 25s	$79K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now +13.924%Rate

Funding earned: −$20.3
Price spread: +13.924% → 0.000%: $1,392.4
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: $1,352.1
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Aster: live order book, 39 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 GMX no order-book sample	—	—	—	—	—
Sell Aster live order book, 39 min ago	8.88 bp	21.1 bp −$21	307.6 bp −$3,076	doesn't fit	doesn't fit

GMX: 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	−0.0320%	1h	0.000003390	+13.000%	$42K	$35K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003411	+13.713%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003421	+14.020%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	+9.133%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0051%	4h	0.000003403	+13.433%	$964K	$15.4M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0076%	4h	0.000003421	+14.033%	$29K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003420	+13.998%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003416	+13.867%	$223K	$672K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003418	+13.950%	$31K	$101K	10x	as long as short
Aster 1000BONKUSDTshort	+0.0100%	4h	0.000003418	+13.924%	$79K	$251K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003416	+13.867%	$114K	$109K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003426	+14.200%	$16.6M	$59.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003421	+14.033%	$10.9M	$18.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003423	+14.100%	$2.5M	$9.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003417	+13.900%	$825K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003418	+13.933%	$9.0M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003415	+13.837%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003421	+14.033%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003418	+13.933%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003398	+13.262%	$309K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003403	+13.433%	$57K	$704K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003430	+14.333%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003424	+14.133%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003409	+13.633%	$97K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003424	+14.120%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003420	+14.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]long	L +0.0197% / S −0.4340%	1h	0.000003000	long leg	$571	—	100x
Backpack kBONK_USDC_PERP	+0.0321%	1h	0.000003411	+13.700%	$30K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0627%	1h	0.000003424	+14.133%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0772%	1h	0.000003426	+14.200%	$10.1M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2454%	1h	0.000003434	+14.473%	$222K	$177K	50x	as long as short