Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.007%

Price spread now: Nado against Binance−0.059%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$600.605% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+1.231%+$123 · spread now −0.059%, 7d avg −0.010%

Together, before fees+1.223%+ Points / potential airdropNado: Active · farm board+$122 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 0.048% cheaper against Binance than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003552	0.0100	pay 0.0050% / 4h	13m 06s	$18.6M	$88.0M	75x
Short	Nado kBONK-PERP	0.000003549	0.0100	get 0.0012% / 1h	13m 06s	$70K	$138K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.010%: −$4.85
Slippage, 4 orders: −$43.48
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$65.33
Costs to cover: 0.605%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Nado: live order book, 60 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, 14 min ago	1.42 bp	13.1 bp −$13	34.4 bp −$344	244.7 bp −$24.5K	doesn't fit
Sell Nado live order book, 60 min ago	2.82 bp	20.8 bp −$21	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	−0.0040%	1h	0.000003539	−0.354%	$43K	$67K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003540	−0.326%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003547	−0.135%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.816%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003549	−0.072%	$4	—	15x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003549	−0.059%	$70K	$138K	10x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003549	−0.068%	$59K	$323K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003544	−0.213%	$119K	$158K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003552	long leg	$18.6M	$88.0M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003550	−0.044%	$12.5M	$26.8M	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	0.000003554	+0.068%	$3.0M	$15.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003546	−0.157%	$955K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003551	−0.016%	$11.6M	$9.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003549	−0.073%	$3.0M	$11.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003550	−0.044%	$4.6M	$5.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003549	−0.073%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003523	−0.792%	$331K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003530	−0.608%	$59K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003548	−0.101%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003556	+0.124%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003550	−0.044%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003550	−0.044%	$101K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003549	−0.083%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003546	−0.157%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0143%	4h	0.000003555	+0.096%	$1.1M	$20.5M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.531%	$540	—	100x	as long as short
Lighter 1000BONK	+0.0440%	1h	0.000003553	+0.040%	$249K	$769K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0596%	1h	0.000003551	−0.016%	$35K	$164K	10x	as long as short
Hyperliquid kBONK	+0.1010%	1h	0.000003555	+0.096%	$12.2M	$8.4M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1734%	1h	0.000003557	+0.153%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4485%	1h	0.000003553	+0.049%	$181K	$275K	50x	as long as short