Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.153%

Price spread now: Coinbase International against BingX−0.168%53s7-day average — · you buy dearer than you sell

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

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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 against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.168% cheaper against BingX than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 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	BingX 1000BONK-USDT	0.000003581	0.0100	pay 0.0050% / 4h	1h 03m	—	$5.0M	—
Short	Coinbase International 1000BONK-PERP-INTX	0.000003575	−0.0016	pay 0.0002% / 1h	3m 26s	$45K	$63K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$24.36
Price spread: −0.168% → 0.000%: −$16.76
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$61.12
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 2 min ago; Coinbase International: 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, 2 min ago	4.18 bp	16.4 bp −$16	30.4 bp −$304	110.8 bp −$11.1K	576.1 bp −$288.1K
Sell Coinbase International no order-book sample	—	—	—	—	—

Coinbase International: 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-INTXshort	−0.0016%	1h	0.000003575	−0.168%	$45K	$63K	50x
dYdX BONK-USD	0.0000%	1h	0.000003589	+0.231%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003588	+0.195%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.573%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003583	+0.054%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003585	+0.126%	$62K	$128K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003587	+0.170%	$60K	$311K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003590	+0.251%	$119K	$139K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003583	+0.052%	$18.5M	$82.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003580	−0.028%	$12.4M	$25.3M	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	0.000003583	+0.056%	$2.9M	$14.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003585	+0.112%	$978K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003581	0.000%	$12.3M	$9.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003583	+0.059%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003578	−0.084%	$4.6M	$4.9M	75x	as long as short
BingX 1000BONK-USDTlong	+0.0100%	4h	0.000003581	long leg	—	$5.0M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003594	+0.359%	$338K	$156K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003586	+0.140%	$60K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003582	+0.028%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003595	+0.391%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003591	+0.279%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003594	+0.363%	$102K	$132K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003586	+0.153%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003579	−0.056%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0111%	4h	0.000003590	+0.251%	$1.1M	$19.6M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.225%	$547	—	100x	as long as short
Lighter 1000BONK	+0.0208%	1h	0.000003593	+0.335%	$252K	$750K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0586%	1h	0.000003592	+0.307%	$35K	$176K	10x	as long as short
Hyperliquid kBONK	+0.1298%	1h	0.000003591	+0.279%	$12.3M	$8.0M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1631%	1h	0.000003596	+0.419%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2997%	1h	0.000003602	+0.596%	$222K	$223K	50x	as long as short