Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0015%/8h= −1.7% APRpaid last 24h −0.021%

Price spread now: BloFin against Pacifica−0.385%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$630.634% of the position

Long on Pacifica Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.245%+$25 on $10k

Price spread, last 4 days (all we have)+0.300%+$30 · spread now −0.385%, 7d avg −0.004%

Together, before fees+0.545%+ Points / potential airdropPacifica: Active · farm board+$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and BloFin is 0.381% cheaper against Pacifica than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of −0.004%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.245%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kBONK	0.000003641	0.0100	pay 0.0013% / 1h	50m 33s	$122K	$133K	10x
Short	BloFin 1000BONK-USDT	0.000003627	0.0085	get 0.0042% / 4h	1h 50m	$1.1M	$19.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Pacifica. 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 PacificabpFee BloFinbpOrdersPrice spread, now −0.385%Rate

Funding earned: −$3.17
Price spread: −0.385% → −0.004%: −$38.07
Slippage, 4 orders: −$43.44
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$104.69
Costs to cover: 0.634%
Break-even: never at this rate

Slippage from Pacifica: live order book, 57 min ago; BloFin: 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 Pacifica live order book, 57 min ago	4.27 bp	22.9 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	5.51 bp	13.4 bp −$13	21.0 bp −$210	64.7 bp −$6,470	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	−0.0016%	1h	0.000003606	−0.961%	$44K	$52K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003637	−0.098%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003622	−0.519%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−10.080%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003623	−0.496%	$4	—	15x	as long as short
BloFin 1000BONK-USDTshort	+0.0085%	4h	0.000003627	−0.385%	$1.1M	$19.0M	75x
Nado kBONK-PERP	+0.0100%	1h	0.000003624	−0.467%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003637	−0.122%	$61K	$301K	10x	as long as short
Pacifica kBONKlong	+0.0100%	1h	0.000003641	long leg	$122K	$133K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003643	+0.049%	$18.7M	$76.7M	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	0.000003644	+0.080%	$12.3M	$23.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003647	+0.165%	$3.0M	$13.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003641	0.000%	$1.0M	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003642	+0.027%	$11.1M	$8.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003638	−0.074%	$3.0M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003645	+0.110%	$4.7M	$4.3M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003647	+0.165%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003625	−0.442%	$339K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003624	−0.467%	$61K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003621	−0.549%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003630	−0.302%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003628	−0.357%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003631	−0.275%	$103K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003646	+0.124%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003624	−0.467%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−17.605%	$398	—	100x	as long as short
Lighter 1000BONK	+0.0360%	1h	0.000003642	+0.027%	$254K	$738K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0578%	1h	0.000003628	−0.357%	$20K	$155K	10x	as long as short
Hyperliquid kBONK	+0.1294%	1h	0.000003644	+0.082%	$12.1M	$7.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1606%	1h	0.000003640	−0.027%	$56K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2966%	1h	0.000003640	−0.030%	$224K	$219K	50x	as long as short