Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Variational Omni against MEXC−0.146%7-day average −0.063% · you buy dearer than you sell

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

Long on MEXC Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.235%+$24 · spread now −0.146%, 7d avg −0.063%

Together, before fees+0.213%+ Points / potential airdropVariational Omni: Active · farm board+$21 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: Variational Omni is 0.083% cheaper against MEXC than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC 1000BONK_USDT	0.000003493	0.0100	pay 0.0050% / 4h	3h 45m	$9.6M	$7.3M	125x
Short	Variational Omni 1000BONK	0.000003488	0.0100	get 0.0050% / 4h	3h 45m	$323K	$138K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.146%Rate

Funding earned: $0
Price spread: −0.146% → −0.063%: −$8.32
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.32
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 min ago; Variational Omni: RFQ quote, 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 MEXC live order book, 3 min ago	1.43 bp	5.7 bp −$6	11.9 bp −$119	75.1 bp −$7,506	125.3 bp −$62.7K
Sell Variational Omni RFQ quote, 9 min ago	5.77 bp	doesn't fit	49.0 bp −$490	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	−0.0312%	1h	0.000003488	−0.143%	$44K	$38K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003490	−0.075%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003499	+0.175%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.270%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0081%	4h	0.000003500	+0.200%	$30K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003497	+0.113%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003493	0.000%	$235K	$678K	10x	as long as short
BloFin 1000BONK-USDT	+0.0099%	4h	0.000003490	−0.086%	$974K	$16.0M	75x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003494	+0.043%	$36K	$102K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003494	+0.040%	$81K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003489	−0.115%	$116K	$105K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003500	+0.202%	$17.0M	$61.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003500	+0.198%	$11.4M	$19.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003503	+0.286%	$2.6M	$9.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003495	+0.057%	$866K	$2.7M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003493	long leg	$9.6M	$7.3M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003490	−0.097%	$3.0M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003500	+0.200%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003500	+0.200%	—	$6.5M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003488	−0.146%	$323K	$138K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003487	−0.172%	$59K	$705K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003498	+0.143%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003503	+0.286%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003504	+0.315%	$99K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003502	+0.244%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003499	+0.172%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−14.114%	$584	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0607%	1h	0.000003505	+0.344%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.0813%	1h	0.000003503	+0.286%	$10.3M	$4.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0973%	1h	0.000003493	0.000%	$31K	$8K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2393%	1h	0.000003509	+0.445%	$224K	$178K	50x	as long as short