Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Variational Omni+0.108%7-day average +0.036% · you sell dearer than you buy

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.033%+$3 on $10k

Price spread, last 4 days (all we have)−0.512%−$51 · spread now +0.108%, 7d avg +0.036%

Together, before fees−0.479%+ Points / potential airdropVariational Omni: Active · farm board−$48 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: Gate is 0.072% dearer against Variational Omni than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000BONK	0.000003386	0.0100	pay 0.0050% / 4h	1h 11m	$307K	$133K	—
Short	Gate BONK_USDT	0.000003390	0.0100	get 0.0050% / 4h	1h 11m	$843K	$2.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee GatebpOrdersPrice spread, now +0.108%Rate

Funding earned: $0
Price spread: +0.108% → +0.036%: $7.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$7.8
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 53 min ago; Gate: live order book, 2 min ago. 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 Variational Omni RFQ quote, 53 min ago	5.82 bp	doesn't fit	55.2 bp −$552	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.96 bp	26.8 bp −$27	83.3 bp −$833	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	−0.0336%	1h	0.000003379	−0.217%	$43K	$34K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003378	−0.237%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003390	+0.099%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.317%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0063%	4h	0.000003396	+0.285%	$29K	$57K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003389	+0.076%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003397	+0.315%	$224K	$670K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003394	+0.233%	$78K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003387	+0.019%	$114K	$104K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003394	+0.237%	$16.0M	$57.6M	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	0.000003390	+0.114%	$10.8M	$18.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003397	+0.315%	$2.5M	$8.6M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003390	+0.108%	$843K	$2.7M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003390	+0.108%	$9.5M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003393	+0.211%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003389	+0.079%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003394	+0.226%	—	$4.7M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003399	+0.374%	$30K	$7K	10x	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003386	long leg	$307K	$133K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003398	+0.344%	$57K	$705K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003390	+0.123%	$27K	$97K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003402	+0.462%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003397	+0.315%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003391	+0.138%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003395	+0.259%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003396	+0.285%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0129%	4h	0.000003394	+0.226%	$955K	$15.1M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.409%	$567	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0634%	1h	0.000003397	+0.315%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0809%	1h	0.000003404	+0.522%	$10.1M	$4.7M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2043%	1h	0.000003401	+0.435%	$220K	$174K	50x	as long as short