Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0163%/8h= −17.8% APRpaid last 24h −0.104%

Price spread now: Orderly against Aevo+0.060%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. Orderly is 0.060% dearer against Aevo than usual: you sell high and buy low (spread +0.060% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo 1000BONK-PERP	0.000003336	0.0104	pay 0.0013% / 1h	59m 43s	$4K	—	3x
Short	Orderly PERP_1000BONK_USDC	0.000003338	−0.0059	pay 0.0029% / 4h	1h 59m	$29K	$41K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aevo. 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 AevobpFee OrderlybpOrdersPrice spread, now +0.060%Rate

Funding earned: −$34.16
Price spread: +0.060% → 0.000%: $6
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$50.16
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Orderly: 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 Aevo no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aevo and Orderly: 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	−0.0320%	1h	0.000003327	−0.270%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003332	−0.120%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDCshort	−0.0059%	4h	0.000003338	+0.060%	$29K	$41K	20x
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003336	−0.012%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003332	−0.124%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003336	0.000%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−1.859%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003336	+0.011%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003335	−0.030%	$197K	$289K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003339	+0.094%	$64K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003334	−0.060%	$113K	$120K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003335	−0.042%	$14.9M	$51.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003336	+0.003%	$10.1M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003334	−0.060%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003334	−0.060%	$737K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003335	−0.030%	$10.0M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003335	−0.039%	$2.6M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003331	−0.150%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003334	−0.060%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003337	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003332	−0.108%	$299K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003330	−0.180%	$56K	$696K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003334	−0.045%	$19K	$107K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003340	+0.120%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003335	−0.030%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003333	−0.087%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERPlong	+0.0104%	1h	0.000003336	long leg	$4K	—	3x
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.072%	$557	—	100x	as long as short
Hyperliquid kBONK	+0.0400%	1h	0.000003340	+0.120%	$9.8M	$7.2M	10x	as long as short
HTX BONK-USDT	+0.0417%	4h	0.000003344	+0.240%	$77K	$123K	30x	as long as short
Kraken Futures PF_BONKUSD	+0.1151%	1h	0.000003338	+0.070%	$203K	$149K	50x	as long as short