Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1520%/8h= +166.4% APRpaid last 24h +0.088%

Price spread now: Backpack against BingX+0.144%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 6 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

Both sides work for this trade now. Funding pays +$46 a day on $10k at the current rate, and Backpack is 0.144% dearer against BingX than usual: you sell high and buy low: +$14 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDC	0.000003477	0.0100	pay 0.0050% / 4h	3h 12m	—	$6.5M	—
Short	Backpack kBONK_USDC_PERP	0.000003482	0.1620	get 0.0202% / 1h	12m 51s	$54K	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. 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 BingXbpFee BackpackbpOrdersPrice spread, now +0.144%Rate

Funding earned: $319.19
Price spread: +0.144% → 0.000%: $14.38
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $313.57
Costs to cover: 0.200%
Break-even: 0.1 days

Slippage unknown: BingX: live order book, 8 min ago; Backpack: 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 BingX live order book, 8 min ago	4.34 bp	21.6 bp −$22	90.4 bp −$904	539.0 bp −$53.9K	698.5 bp −$349.3K
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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	−0.0024%	1h	0.000003430	−1.352%	$43K	$81K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003472	−0.155%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.838%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003473	−0.117%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003473	−0.101%	$66K	$140K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003480	+0.086%	$48K	$295K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003478	+0.029%	$115K	$162K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003479	+0.045%	$18.0M	$90.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003478	+0.014%	$12.4M	$27.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003478	+0.029%	$3.0M	$15.2M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BONK_USDT	+0.0100%	4h	0.000003475	−0.058%	$920K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003478	+0.029%	$11.3M	$10.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003477	+0.012%	$2.9M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003474	−0.086%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDClong	+0.0100%	4h	0.000003477	long leg	—	$6.5M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003484	+0.216%	$335K	$115K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003486	+0.259%	$59K	$698K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003471	−0.173%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003480	+0.086%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003473	−0.115%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003480	+0.086%	$99K	$137K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003473	−0.112%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003471	−0.173%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0125%	4h	0.000003478	+0.029%	$1.0M	$19.9M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−13.719%	$531	—	100x	as long as short
Lighter 1000BONK	+0.0280%	1h	0.000003478	+0.029%	$246K	$771K	10x	as long as short
dYdX BONK-USD	+0.0282%	1h	0.000003475	−0.045%	$13K	$10K	10x	as long as short
Hyperliquid kBONK	+0.0587%	1h	0.000003480	+0.086%	$11.9M	$8.3M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0614%	1h	0.000003474	−0.086%	$24K	$164K	10x	as long as short
Backpack kBONK_USDC_PERPshort	+0.1620%	1h	0.000003482	+0.144%	$54K	$23K	10x
Kraken Futures PF_BONKUSD	+0.2985%	1h	0.000003478	+0.017%	$176K	$273K	50x	as long as short