Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: ApeX Omni against MEXC−0.085%51s7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.385% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)+1.105%+$110 · spread now −0.085%, 7d avg +0.004%

Together, before fees+1.171%+$117 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.088% cheaper against MEXC than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.004%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC 1000BONK_USDT	0.000003540	0.0100	pay 0.0050% / 4h	2m 39s	$11.5M	$9.8M	125x
Short	ApeX Omni 1000BONKUSDT	0.000003537	0.0100	get 0.0013% / 1h	2m 39s	$60K	$705K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.085%Rate

Funding earned: $0
Price spread: −0.085% → +0.004%: −$8.83
Slippage, 4 orders: −$28.51
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$47.34
Costs to cover: 0.385%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; ApeX Omni: live order book, 36 min ago.

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 MEXC live order book, 6 min ago	1.42 bp	6.2 bp −$6	16.4 bp −$164	89.3 bp −$8,929	131.4 bp −$65.7K
Sell ApeX Omni live order book, 36 min ago	7.02 bp	14.3 bp −$14	91.6 bp −$916	doesn't fit	doesn't fit

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	−0.0040%	1h	0.000003517	−0.650%	$42K	$68K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003533	−0.189%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003531	−0.246%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.514%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003524	−0.451%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003538	−0.046%	$59K	$323K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003539	−0.028%	$119K	$161K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003537	−0.082%	$18.6M	$88.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003546	+0.164%	$12.5M	$27.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003547	+0.198%	$3.0M	$15.2M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BONK_USDT	+0.0100%	4h	0.000003535	−0.141%	$949K	$3.6M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003540	long leg	$11.5M	$9.8M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003538	−0.056%	$3.0M	$11.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003534	−0.169%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003535	−0.141%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003537	−0.098%	$332K	$99K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003537	−0.085%	$60K	$705K	25x
Nado kBONK-PERP	+0.0100%	1h	0.000003542	+0.056%	$70K	$138K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003532	−0.226%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003543	+0.085%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003538	−0.056%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003528	−0.339%	$100K	$134K	30x	as long as short
BloFin 1000BONK-USDT	+0.0102%	4h	0.000003537	−0.085%	$1.1M	$20.4M	75x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003540	−0.010%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003532	−0.226%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.254%	$538	—	100x	as long as short
Lighter 1000BONK	+0.0480%	1h	0.000003541	+0.028%	$248K	$769K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0599%	1h	0.000003538	−0.056%	$35K	$164K	10x	as long as short
Hyperliquid kBONK	+0.0947%	1h	0.000003541	+0.028%	$12.1M	$8.5M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1790%	1h	0.000003545	+0.141%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4501%	1h	0.000003541	+0.017%	$181K	$275K	50x	as long as short