Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: OKX against Binance−0.064%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on Binance Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 7 days+0.064%+$6 · spread now −0.064%, 7d avg −0.006%

Together, before fees+0.195%+$20 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: OKX is 0.058% cheaper against Binance than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003405	0.0100	pay 0.0050% / 4h	1h 05m	$17.3M	$90.3M	75x
Short	OKX BONK-USDT-SWAP	0.000003403	0.0100	get 0.0100% / 8h	5h 05m	$3.0M	$14.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0
Price spread: −0.064% → −0.006%: −$5.84
Slippage, 4 orders: −$29.02
Fee Binance: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$54.86
Costs to cover: 0.490%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; OKX: live order book, 1 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, 15 min ago	1.46 bp	10.0 bp −$10	19.7 bp −$197	194.1 bp −$19.4K	doesn't fit
Sell OKX live order book, 1 min ago	2.94 bp	12.6 bp −$13	51.7 bp −$517	doesn't fit	doesn't fit

BONK on 31 exchanges

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	−0.0056%	1h	0.000003410	+0.141%	$44K	$89K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003403	−0.053%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.853%	$3K	$57	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0044%	1h	0.000003405	−0.006%	$23K	$152K	10x	as long as short
BloFin 1000BONK-USDT	+0.0046%	4h	0.000003407	+0.053%	$1.0M	$19.8M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003405	−0.003%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003408	+0.083%	$234K	$760K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003408	+0.083%	$47K	$201K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003406	+0.024%	$113K	$151K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003405	long leg	$17.3M	$90.3M	75x

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003404	−0.032%	$11.8M	$26.7M	50x	as long as short
OKX BONK-USDT-SWAPshort	+0.0100%	8h	0.000003403	−0.064%	$3.0M	$14.5M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003405	−0.006%	$920K	$3.4M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003405	−0.006%	$10.6M	$11.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003407	+0.053%	$2.8M	$10.5M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003402	−0.094%	$4.4M	$5.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003405	−0.006%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003403	−0.076%	$321K	$136K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003405	−0.006%	$57K	$693K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003403	−0.050%	$64K	$133K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003401	−0.123%	$29K	$46K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003412	+0.200%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003405	−0.006%	$2K	$9K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003415	+0.288%	$98K	$138K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003403	−0.052%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003400	−0.152%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.1287%	1h	0.000003000	−11.899%	$404	—	100x	as long as short
Hyperliquid kBONK	+0.0382%	1h	0.000003408	+0.083%	$11.7M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1179%	1h	0.000003410	+0.141%	$53K	$25K	10x	as long as short
dYdX BONK-USD	+0.1443%	1h	0.000003405	−0.002%	$13K	$12K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1665%	1h	0.000003415	+0.278%	$174K	$255K	50x	as long as short