Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.016%

Price spread now: Nado against Variational Omni+0.725%7-day average +0.067% · you sell dearer than you buy

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)−0.437%−$44 · spread now +0.725%, 7d avg +0.067%

Together, before fees−0.423%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$42 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 0.657% dearer against Variational Omni than usual: you sell high and buy low, +$66 on $10k if it goes back to its 7-day average of +0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000BONK	0.000003605	0.0100	pay 0.0050% / 4h	1h 29m	$338K	$146K	—
Short	Nado kBONK-PERP	0.000003631	0.0100	get 0.0012% / 1h	29m 55s	$55K	$123K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.725%Rate

Funding earned: $0
Price spread: +0.725% → +0.067%: $65.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $58.74
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 14 min ago; Nado: live order book, 48 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, 14 min ago	5.49 bp	doesn't fit	54.9 bp −$549	doesn't fit	doesn't fit
Sell Nado live order book, 48 min ago	4.23 bp	13.9 bp −$14	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	−0.0016%	1h	0.000003626	+0.586%	$46K	$62K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003607	+0.071%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003608	+0.092%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.178%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003630	+0.709%	$4	—	15x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003631	+0.725%	$55K	$123K	10x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003636	+0.863%	$61K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003612	+0.198%	$120K	$134K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003636	+0.864%	$18.8M	$79.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003630	+0.697%	$12.5M	$24.5M	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	0.000003634	+0.808%	$3.0M	$13.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003632	+0.753%	$966K	$3.4M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003635	+0.836%	$12.1M	$9.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003633	+0.789%	$3.1M	$10.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003631	+0.725%	$4.7M	$4.7M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003632	+0.753%	—	$5.0M	—	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003605	long leg	$338K	$146K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003644	+1.085%	$61K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003632	+0.753%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003642	+1.030%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003638	+0.919%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003624	+0.531%	$103K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003633	+0.784%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003632	+0.753%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0132%	4h	0.000003609	+0.115%	$1.1M	$19.2M	75x	as long as short
Lighter 1000BONK	+0.0168%	1h	0.000003640	+0.975%	$254K	$746K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.779%	$551	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.1127%	1h	0.000003637	+0.891%	$25K	$165K	10x	as long as short
Hyperliquid kBONK	+0.1258%	1h	0.000003643	+1.058%	$12.5M	$7.8M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1747%	1h	0.000003645	+1.113%	$56K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2956%	1h	0.000003653	+1.324%	$225K	$222K	50x	as long as short