Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.029%

Price spread now: BingX against Injective+2.046%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 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 +$2 a day on $10k at the current rate, and BingX is 2.046% dearer against Injective than usual: you sell high and buy low: +$205 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	Injective BONK/USDC PERP	0.000003274	0.0033	pay 0.0004% / 1h	58m 46s	$3K	$113	5.5x
Short	BingX 1000BONK-USDT	0.000003341	0.0100	get 0.0050% / 4h	1h 58m	—	$8.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now +2.046%Rate

Funding earned: $14
Price spread: +2.046% → 0.000%: $204.64
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: $208.62
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BingX: live order book, 9 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 Injective no order-book sample	—	—	—	—	—
Sell BingX live order book, 9 min ago	5.99 bp	13.6 bp −$14	27.3 bp −$273	65.4 bp −$6,544	475.4 bp −$237.7K

Injective: 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	−0.0248%	1h	0.000003327	+1.619%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003341	+2.046%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0060%	4h	0.000003339	+1.985%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0049%	1h	0.000003339	+1.985%	$2K	$110K	10x	as long as short
Nado kBONK-PERP	−0.0045%	1h	0.000003335	+1.863%	$19K	$107K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003340	+2.004%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003340	+2.006%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERPlong	+0.0033%	1h	0.000003274	long leg	$3K	$113	5.5x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003338	+1.950%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003341	+2.046%	$198K	$289K	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	0.000003340	+2.013%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003341	+2.046%	$114K	$120K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003341	+2.039%	$15.0M	$51.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003340	+2.016%	$10.1M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003341	+2.046%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003338	+1.955%	$738K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003340	+2.016%	$10.0M	$6.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003339	+1.973%	$2.6M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003338	+1.955%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDTshort	+0.0100%	4h	0.000003341	+2.046%	—	$8.0M	—
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003344	+2.138%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003332	+1.783%	$299K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003333	+1.802%	$56K	$696K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003340	+2.016%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003339	+1.985%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003339	+1.985%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003337	+1.924%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−8.369%	$558	—	100x	as long as short
HTX BONK-USDT	+0.0393%	4h	0.000003338	+1.955%	$77K	$123K	30x	as long as short
Hyperliquid kBONK	+0.0905%	1h	0.000003347	+2.230%	$9.9M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0967%	1h	0.000003349	+2.284%	$203K	$149K	50x	as long as short