Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.021%

Price spread now: Nado against OKX+0.057%7-day average +0.001% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$600.596% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now +0.057%, 7d avg +0.001%

Together, before fees+0.132%+ Points / potential airdropNado: Active · farm board+$13 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: Nado is 0.057% dearer against OKX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003487	0.0100	pay 0.0100% / 8h	2h 26m	$2.8M	$11.5M	20x
Short	Nado kBONK-PERP	0.000003489	0.0100	get 0.0012% / 1h	26m 21s	$42K	$114K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.057%Rate

Funding earned: $0
Price spread: +0.057% → +0.001%: $5.66
Slippage, 4 orders: −$42.6
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$53.95
Costs to cover: 0.596%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Nado: live order book, 57 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	1.43 bp	13.9 bp −$14	43.8 bp −$438	doesn't fit	doesn't fit
Sell Nado live order book, 57 min ago	2.85 bp	12.0 bp −$12	doesn't fit	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	−0.0136%	1h	0.000003483	−0.115%	$43K	$47K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003490	+0.098%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003485	−0.069%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.108%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003490	+0.085%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0092%	4h	0.000003485	−0.057%	$30K	$53K	20x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003489	+0.057%	$42K	$114K	10x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003488	+0.024%	$58K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003490	+0.086%	$116K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003486	−0.034%	$17.8M	$71.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003482	−0.149%	$11.5M	$22.3M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003487	long leg	$2.8M	$11.5M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003488	+0.029%	$902K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003483	−0.115%	$10.3M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003485	−0.060%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003484	−0.086%	$4.5M	$3.9M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003485	−0.057%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003499	+0.357%	$325K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003521	+0.975%	$59K	$703K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003492	+0.143%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003489	+0.057%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003491	+0.115%	$99K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003486	−0.042%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003480	−0.201%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0113%	4h	0.000003498	+0.315%	$1.0M	$17.8M	75x	as long as short
Lighter 1000BONK	+0.0128%	1h	0.000003491	+0.115%	$246K	$718K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−13.966%	$385	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0324%	1h	0.000003487	0.000%	$9K	$134K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1599%	1h	0.000003496	+0.258%	$46K	$17K	10x	as long as short
Hyperliquid kBONK	+0.1604%	1h	0.000003496	+0.258%	$11.7M	$6.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2663%	1h	0.000003492	+0.143%	$214K	$218K	50x	as long as short