Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.012%

Price spread now: Bybit against ApeX Omni+0.143%79s7-day average −0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.586% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.317%−$32 · spread now +0.143%, 7d avg −0.018%

Together, before fees−0.280%−$28 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 0.160% dearer against ApeX Omni than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.018%. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni 1000BONKUSDT	0.000003504	0.0100	pay 0.0013% / 1h	24m 09s	$59K	$706K	25x
Short	Bybit 1000BONKUSDT	0.000003509	0.0100	get 0.0050% / 4h	3h 24m	$11.4M	$19.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.143%Rate

Funding earned: $0
Price spread: +0.143% → −0.018%: $16.04
Slippage, 4 orders: −$37.55
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$42.51
Costs to cover: 0.586%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 29 min ago; Bybit: live order book, 4 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 ApeX Omni live order book, 29 min ago	5.72 bp	18.1 bp −$18	108.7 bp −$1,087	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.43 bp	12.7 bp −$13	30.6 bp −$306	204.7 bp −$20.5K	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	−0.0312%	1h	0.000003509	+0.143%	$44K	$39K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003511	+0.208%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003508	+0.103%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.564%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0083%	4h	0.000003508	+0.114%	$30K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003511	+0.196%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003514	+0.300%	$38K	$108K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003513	+0.261%	$81K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003515	+0.314%	$118K	$107K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003511	+0.197%	$17.4M	$63.1M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003509	+0.143%	$11.4M	$19.6M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003513	+0.257%	$2.6M	$9.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003508	+0.114%	$877K	$2.8M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003510	+0.171%	$9.8M	$7.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003509	+0.143%	$3.0M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003510	+0.171%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003512	+0.228%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003522	+0.509%	$326K	$140K	—	as long as short
ApeX Omni 1000BONKUSDTlong	+0.0100%	1h	0.000003504	long leg	$59K	$706K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003516	+0.342%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003509	+0.143%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003517	+0.371%	$100K	$121K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003508	+0.115%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003509	+0.143%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0125%	4h	0.000003516	+0.342%	$991K	$16.6M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−14.384%	$587	—	100x	as long as short
Lighter 1000BONK	+0.0200%	1h	0.000003514	+0.285%	$246K	$692K	10x	as long as short
Hyperliquid kBONK	+0.0837%	1h	0.000003523	+0.542%	$10.4M	$5.0M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0890%	1h	0.000003512	+0.228%	$6K	$123K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1410%	1h	0.000003518	+0.400%	$48K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2388%	1h	0.000003516	+0.340%	$224K	$178K	50x	as long as short