Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.025%

Price spread now: Gate against Nado−0.074%7-day average −0.034% · 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−$80as in the Price arb table

costs, in and out, $10k−$760.761% of the position

Long on Nado Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.020%+$2 on $10k

Price spread, last 3 days (all we have)−0.223%−$22 · spread now −0.074%, 7d avg −0.034%

Together, before fees−0.203%+ Points / potential airdropNado: Active · farm board−$20 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: Gate is 0.040% cheaper against Nado than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kBONK-PERP	0.000003369	0.0100	pay 0.0012% / 1h	5m 24s	$19K	$106K	10x
Short	Gate BONK_USDT	0.000003367	0.0100	get 0.0050% / 4h	1h 05m	$721K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.074%Rate

Funding earned: $0
Price spread: −0.074% → −0.034%: −$3.98
Slippage, 4 orders: −$54.08
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$80.06
Costs to cover: 0.761%
Break-even: 26958248731339.1 days

Slippage from Nado: live order book, 12 min ago; Gate: live order book, 3 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, 12 min ago	2.98 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.49 bp	24.8 bp −$25	87.5 bp −$875	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	−0.0248%	1h	0.000003342	−0.816%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003363	−0.193%	$1.0M	$13.4M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0086%	4h	0.000003369	−0.015%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0047%	1h	0.000003368	−0.045%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003371	+0.056%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003368	−0.032%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.834%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003371	+0.046%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003369	−0.015%	$189K	$301K	10x	as long as short
Nado kBONK-PERPlong	+0.0100%	1h	0.000003369	long leg	$19K	$106K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003370	+0.029%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003369	−0.015%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003370	+0.029%	$15.2M	$51.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003369	−0.015%	$10.2M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003371	+0.045%	$2.4M	$7.8M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003367	−0.074%	$721K	$2.6M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003370	+0.015%	$10.1M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003368	−0.047%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003368	−0.045%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003370	+0.015%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003371	+0.045%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003360	−0.281%	$302K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003359	−0.312%	$57K	$701K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003374	+0.134%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003370	+0.015%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003371	+0.045%	$91K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003369	−0.020%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003368	−0.045%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.966%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0930%	1h	0.000003378	+0.252%	$10.1M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0960%	1h	0.000003375	+0.170%	$205K	$149K	50x	as long as short