Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Bybit against Binance−0.128%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$540.539% of the position

Long on Binance Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 7 days+0.128%+$13 · spread now −0.128%, 7d avg −0.009%

Together, before fees+0.226%+$23 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 0.118% cheaper against Binance than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003518	0.0100	pay 0.0050% / 4h	2h 35m	$18.0M	$71.1M	75x
Short	Bybit 1000BONKUSDT	0.000003514	0.0100	get 0.0050% / 4h	2h 35m	$11.6M	$22.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Binance. 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 BinancebpFee BybitbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.009%: −$11.85
Slippage, 4 orders: −$32.87
Fee Binance: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$65.71
Costs to cover: 0.539%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Bybit: live order book, 8 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 Binance live order book, 7 min ago	1.42 bp	13.3 bp −$13	29.6 bp −$296	155.9 bp −$15.6K	doesn't fit
Sell Bybit live order book, 8 min ago	2.84 bp	14.4 bp −$14	32.9 bp −$329	150.6 bp −$15.1K	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	−0.0136%	1h	0.000003479	−1.109%	$43K	$47K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003520	+0.057%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003515	−0.094%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.936%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003517	−0.015%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0091%	4h	0.000003513	−0.142%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003518	+0.014%	$42K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003513	−0.135%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003519	+0.028%	$117K	$123K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003518	long leg	$18.0M	$71.1M	75x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003514	−0.128%	$11.6M	$22.1M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003517	−0.028%	$2.8M	$11.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003517	−0.028%	$930K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003517	−0.028%	$9.9M	$8.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003516	−0.068%	$3.0M	$10.3M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003514	−0.114%	$4.5M	$3.9M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003515	−0.085%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003510	−0.229%	$326K	$141K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003515	−0.085%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003512	−0.171%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003518	0.000%	$100K	$129K	30x	as long as short
BloFin 1000BONK-USDT	+0.0103%	4h	0.000003523	+0.142%	$1.0M	$17.8M	75x	as long as short
Lighter 1000BONK	+0.0104%	1h	0.000003519	+0.028%	$248K	$708K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003518	−0.012%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003508	−0.284%	$4K	—	3x	as long as short
ApeX Omni 1000BONKUSDT	+0.0134%	1h	0.000003514	−0.114%	$59K	$705K	25x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−14.724%	$388	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0320%	1h	0.000003513	−0.142%	$9K	$134K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1656%	1h	0.000003518	0.000%	$46K	$17K	10x	as long as short
Hyperliquid kBONK	+0.1664%	1h	0.000003525	+0.199%	$11.9M	$6.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2639%	1h	0.000003524	+0.175%	$216K	$218K	50x	as long as short