Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h −0.022%

Price spread now: BloFin against OKX+0.057%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$720.720% of the position

Long on OKX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.240%+$24 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now +0.057%, 7d avg +0.004%

Together, before fees+0.062%+$6 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: BloFin is 0.053% dearer against OKX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003535	0.0100	pay 0.0100% / 8h	3m 05s	$3.0M	$15.2M	20x
Short	BloFin 1000BONK-USDT	0.000003537	0.0102	get 0.0051% / 4h	3m 05s	$1.1M	$20.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0.37
Price spread: +0.057% → +0.004%: $5.3
Slippage, 4 orders: −$49.97
Fee OKX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$66.3
Costs to cover: 0.720%
Break-even: 1260.8 days

Slippage from OKX: live order book, just now; BloFin: live order book, 6 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, just now	1.41 bp	18.8 bp −$19	59.6 bp −$596	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	1.41 bp	18.0 bp −$18	28.2 bp −$282	70.7 bp −$7,066	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	−0.509%	$42K	$68K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003521	−0.410%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003531	−0.105%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.383%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003524	−0.310%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003537	+0.046%	$59K	$323K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003520	−0.424%	$118K	$161K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003537	+0.057%	$18.6M	$88.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003532	−0.088%	$12.5M	$27.1M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003535	long leg	$3.0M	$15.2M	20x

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	0.000%	$949K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003535	0.000%	$11.5M	$9.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003535	+0.003%	$3.0M	$11.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003533	−0.057%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003535	0.000%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003537	+0.043%	$332K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003537	+0.057%	$60K	$705K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003521	−0.396%	$69K	$138K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003532	−0.085%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003543	+0.226%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003538	+0.085%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003528	−0.198%	$100K	$134K	30x	as long as short
BloFin 1000BONK-USDTshort	+0.0102%	4h	0.000003537	+0.057%	$1.1M	$20.4M	75x
Extended 1000BONK-USD	+0.0104%	1h	0.000003537	+0.046%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003532	−0.085%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.134%	$538	—	100x	as long as short
Lighter 1000BONK	+0.0480%	1h	0.000003540	+0.141%	$248K	$769K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0599%	1h	0.000003538	+0.085%	$35K	$164K	10x	as long as short
Hyperliquid kBONK	+0.0950%	1h	0.000003540	+0.141%	$12.1M	$8.5M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1790%	1h	0.000003545	+0.283%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4501%	1h	0.000003541	+0.158%	$181K	$275K	50x	as long as short