Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.4240%/8h= +464.3% APRpaid last 24h +0.390%

Price spread now: GMX against HTX−13.220%7-day average — · you buy dearer than you sell

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

Long on HTX Short on GMX

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. GMX is 13.220% cheaper against HTX than usual: you would sell low and buy high (spread −13.220% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,322 on $10k: about 10 days of funding at the current rate (+$127 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BONK-USDT	0.000003457	0.0100	pay 0.0050% / 4h	3h 05m	$95K	$158K	30x
Short	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0197% / S −0.4340%	get 0.0542% / 1h	5m 03s	$571	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against HTX. 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 HTXbpFee GMXbpOrdersPrice spread, now −13.220%Rate

Funding earned: $890.37
Price spread: −13.220% → 0.000%: −$1,321.96
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$455.58
Costs to cover: 0.240%
Break-even: 10.6 days

Slippage unknown: HTX: live order book, 1 min ago; GMX: 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 HTX live order book, 1 min ago	32.09 bp	161.1 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.0376%	1h	0.000003371	−2.488%	$43K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003422	−1.012%	$930K	$14.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0033%	4h	0.000003414	−1.244%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003416	−1.176%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003417	−1.166%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.294%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003418	−1.132%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003417	−1.143%	$19K	$99K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003413	−1.276%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003414	−1.244%	$113K	$122K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003421	−1.041%	$15.9M	$53.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003419	−1.096%	$10.8M	$17.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003420	−1.070%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003417	−1.157%	$731K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003421	−1.041%	$10.1M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003419	−1.085%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003419	−1.099%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003419	−1.099%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003406	−1.479%	$312K	$125K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003424	−0.955%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003426	−0.897%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003418	−1.128%	$2K	$6K	10x	as long as short
HTX BONK-USDTlong	+0.0100%	4h	0.000003457	long leg	$95K	$158K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003418	−1.138%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003414	−1.244%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]short	L +0.0197% / S −0.4340%	1h	0.000003000	−13.220%	$571	—	100x
Deribit 1000BONK_USDC-PERPETUAL	+0.0335%	1h	0.000003420	−1.070%	$2K	$110K	10x	as long as short
Lighter 1000BONK	+0.0384%	1h	0.000003425	−0.926%	$356K	$475K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0416%	1h	0.000003422	−1.012%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0600%	1h	0.000003426	−0.897%	$9.8M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1454%	1h	0.000003426	−0.884%	$214K	$165K	50x	as long as short