Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.009%

Price spread now: Bybit against Nado−0.315%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.017%−$2 on $10k

Price spread, last 4 days (all we have)−0.332%−$33 · spread now −0.315%, 7d avg −0.020%

Together, before fees−0.349%+ Points / potential airdropNado: Active · farm board−$35 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: Bybit is 0.296% cheaper against Nado than usual: you would sell low and buy high, −$30 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kBONK-PERP	0.000003489	0.0100	pay 0.0013% / 1h	41m 50s	$69K	$139K	10x
Short	Bybit 1000BONKUSDT	0.000003478	0.0100	get 0.0050% / 4h	3h 41m	$12.4M	$27.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now −0.315%Rate

Funding earned: $0
Price spread: −0.315% → −0.020%: −$29.57
Slippage, 4 orders: −$43.56
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$91.13
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Nado: live order book, 27 min ago; Bybit: live order book, 2 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 Nado live order book, 27 min ago	2.83 bp	15.5 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.86 bp	14.3 bp −$14	35.6 bp −$356	171.3 bp −$17.1K	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	−0.0024%	1h	0.000003484	−0.158%	$42K	$68K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003489	−0.003%	$13K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003488	−0.043%	$34K	$164K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003489	−0.009%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.176%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003491	+0.042%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0090%	4h	0.000003495	+0.158%	$1.1M	$20.2M	75x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003478	−0.328%	$47K	$333K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003489	−0.014%	$116K	$162K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003478	−0.320%	$18.0M	$89.8M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003478	−0.315%	$12.4M	$27.4M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003480	−0.272%	$3.0M	$15.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003475	−0.416%	$918K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003478	−0.330%	$11.3M	$10.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003476	−0.390%	$2.9M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003479	−0.301%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003476	−0.387%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003492	+0.069%	$328K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003504	+0.416%	$59K	$701K	25x	as long as short
Nado kBONK-PERPlong	+0.0100%	1h	0.000003489	long leg	$69K	$139K	10x
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003483	−0.186%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003497	+0.215%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003488	−0.043%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003499	+0.272%	$99K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003477	−0.355%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003489	−0.014%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0192%	1h	0.000003490	+0.014%	$245K	$759K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.028%	$533	—	100x	as long as short
Hyperliquid kBONK	+0.0603%	1h	0.000003483	−0.186%	$11.9M	$8.4M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1886%	1h	0.000003492	+0.072%	$54K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2969%	1h	0.000003497	+0.215%	$178K	$275K	50x	as long as short