Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.3850%/8h= +421.5% APRpaid last 24h +0.738%

Price spread now: GMX against SunX−15.659%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 15.659% cheaper against SunX than usual: you would sell low and buy high (spread −15.659% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,566 on $10k: about 14 days of funding at the current rate (+$115 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BONK-USDT	0.000003557	0.0100	pay 0.0050% / 4h	36m 40s	$2K	$15K	20x
Short	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0196% / S −0.3950%	get 0.0494% / 1h	36m 40s	$542	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against SunX. 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 SunXbpFee GMXbpOrdersPrice spread, now −15.659%Rate

Funding earned: $808.45
Price spread: −15.659% → 0.000%: −$1,565.93
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$777.48
Costs to cover: 0.200%
Break-even: 13.7 days

Slippage unknown: SunX: no order-book sample; GMX: no order-book sample. Net counts fees only.

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 SunX no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

SunX and GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.000003537	−0.562%	$43K	$64K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003545	−0.329%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003548	−0.250%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.956%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0056%	4h	0.000003548	−0.253%	$1.1M	$20.1M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003550	−0.186%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003546	−0.315%	$59K	$318K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003547	−0.281%	$118K	$148K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003545	−0.337%	$18.3M	$85.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003547	−0.281%	$12.4M	$26.1M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003549	−0.225%	$3.0M	$14.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003546	−0.309%	$994K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003549	−0.225%	$11.6M	$9.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003548	−0.239%	$3.0M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003542	−0.422%	$4.5M	$5.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003543	−0.394%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003571	+0.402%	$336K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003578	+0.590%	$60K	$706K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003550	−0.211%	$64K	$134K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003548	−0.253%	$30K	$52K	20x	as long as short
SunX BONK-USDTlong	+0.0100%	4h	0.000003557	long leg	$2K	$15K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003550	−0.197%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003554	−0.084%	$101K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003544	−0.379%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003550	−0.197%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]short	L +0.0196% / S −0.3950%	1h	0.000003000	−15.659%	$542	—	100x
Deribit 1000BONK_USDC-PERPETUAL	+0.0314%	1h	0.000003548	−0.253%	$35K	$164K	10x	as long as short
Lighter 1000BONK	+0.0504%	1h	0.000003552	−0.141%	$247K	$762K	10x	as long as short
Hyperliquid kBONK	+0.1019%	1h	0.000003554	−0.084%	$12.2M	$8.1M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1626%	1h	0.000003561	+0.112%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4476%	1h	0.000003561	+0.101%	$182K	$262K	50x	as long as short