Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Bybit against Pacifica+0.012%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$600.603% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.012%, 7d avg −0.023%

Together, before fees−0.045%+ Points / potential airdropPacifica: Active · farm board−$4 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: Bybit is 0.035% dearer against Pacifica than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kBONK	0.000003439	0.0100	pay 0.0013% / 1h	21m 48s	$114K	$123K	10x
Short	Bybit 1000BONKUSDT	0.000003439	0.0100	get 0.0050% / 4h	2h 21m	$11.0M	$17.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → −0.023%: $3.5
Slippage, 4 orders: −$41.3
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$56.81
Costs to cover: 0.603%
Break-even: never at this rate

Slippage from Pacifica: live order book, 46 min ago; Bybit: 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 Pacifica live order book, 46 min ago	5.87 bp	24.6 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.46 bp	9.0 bp −$9	29.8 bp −$298	163.5 bp −$16.4K	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	0.000003437	−0.058%	$44K	$27K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0005%	4h	0.000003440	+0.029%	$29K	$58K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003433	−0.165%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003440	+0.032%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.798%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0041%	1h	0.000003441	+0.058%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003442	+0.086%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003440	+0.029%	$232K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003442	+0.087%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003440	+0.019%	$66K	$253K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONKlong	+0.0100%	1h	0.000003439	long leg	$114K	$123K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003434	−0.154%	$16.1M	$56.8M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003439	+0.012%	$11.0M	$17.8M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003443	+0.116%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003436	−0.087%	$760K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003440	+0.029%	$9.5M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003438	−0.029%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003434	−0.145%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003438	−0.029%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003458	+0.550%	$315K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003448	+0.262%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003446	+0.204%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003437	−0.058%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003450	+0.320%	$98K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003432	−0.215%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003438	−0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.765%	$575	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0373%	1h	0.000003438	−0.029%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0997%	1h	0.000003446	+0.204%	$10.2M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2046%	1h	0.000003444	+0.137%	$215K	$165K	50x	as long as short