Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bitget against OKX−0.086%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$770.773% of the position

Long on OKX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.111%+$11 · spread now −0.086%, 7d avg −0.015%

Together, before fees+0.113%+$11 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: Bitget is 0.071% cheaper against OKX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003471	0.0100	pay 0.0100% / 8h	5h 56m	$2.5M	$8.5M	20x
Short	Bitget 1000BONKUSDT	0.000003468	0.0100	get 0.0050% / 4h	1h 56m	$4.4M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against OKX. 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 OKXbpFee BitgetbpOrdersPrice spread, now −0.086%Rate

Funding earned: $0
Price spread: −0.086% → −0.015%: −$7.12
Slippage, 4 orders: −$55.26
Fee OKX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$84.38
Costs to cover: 0.773%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Bitget: 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 OKX live order book, 2 min ago	1.45 bp	27.5 bp −$28	87.9 bp −$879	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	4.36 bp	15.5 bp −$15	46.9 bp −$469	doesn't fit	doesn't fit

BONK on 30 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	−0.0336%	1h	0.000003442	−0.835%	$46K	$32K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003465	−0.161%	$13K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003441	−0.864%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003467	−0.124%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDC	+0.0026%	4h	0.000003440	−0.893%	$29K	$58K	20x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.676%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003471	−0.002%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003465	−0.173%	$226K	$666K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003469	−0.043%	$27K	$106K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003452	−0.544%	$81K	$262K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003466	−0.144%	$115K	$118K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003470	−0.029%	$16.2M	$57.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003470	−0.029%	$11.1M	$18.0M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003471	long leg	$2.5M	$8.5M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003465	−0.173%	$902K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003472	+0.029%	$9.7M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003470	−0.029%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDTshort	+0.0100%	4h	0.000003468	−0.086%	$4.4M	$3.1M	75x
BingX 1000BONK-USDC	+0.0100%	4h	0.000003470	−0.029%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003447	−0.691%	$31K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003454	−0.493%	$315K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003442	−0.835%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003448	−0.663%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003443	−0.807%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003463	−0.230%	$98K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003472	+0.019%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003439	−0.922%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.570%	$575	—	100x	as long as short
Hyperliquid kBONK	+0.0773%	1h	0.000003476	+0.144%	$10.3M	$6.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2011%	1h	0.000003455	−0.457%	$223K	$174K	50x	as long as short