Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX−0.059%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$830.835% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.048%−$5 on $10k

Price spread, last 4 days (all we have)+0.031%+$3 · spread now −0.059%, 7d avg −0.021%

Together, before fees−0.017%−$2 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: Gate is 0.038% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDT	0.000003416	0.0100	pay 0.0050% / 4h	3h 05m	—	$4.7M	—
Short	Gate BONK_USDT	0.000003414	0.0100	get 0.0050% / 4h	3h 05m	$730K	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.021%: −$3.79
Slippage, 4 orders: −$58.47
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$87.25
Costs to cover: 0.835%
Break-even: never at this rate

Slippage from BingX: live order book, 17 min ago; Gate: live order book, 2 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 BingX live order book, 17 min ago	5.91 bp	14.6 bp −$15	27.1 bp −$271	109.7 bp −$11.0K	622.5 bp −$311.2K
Sell Gate live order book, 2 min ago	2.93 bp	27.5 bp −$28	95.9 bp −$959	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	−0.0376%	1h	0.000003371	−1.317%	$43K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003416	0.000%	$1.0M	$14.7M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0035%	4h	0.000003403	−0.381%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003416	+0.010%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003406	−0.287%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.157%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003407	−0.253%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003409	−0.190%	$19K	$99K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003408	−0.242%	$65K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003414	−0.059%	$113K	$122K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003417	+0.022%	$15.9M	$53.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003414	−0.059%	$10.8M	$17.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003417	+0.029%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003414	−0.059%	$730K	$2.6M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003417	+0.029%	$10.0M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003414	−0.073%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003415	−0.029%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDTlong	+0.0100%	4h	0.000003416	long leg	—	$4.7M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003406	−0.297%	$312K	$125K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003424	+0.234%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003416	0.000%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003408	−0.234%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003439	+0.673%	$95K	$156K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003415	−0.040%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003403	−0.381%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.178%	$569	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0337%	1h	0.000003407	−0.263%	$2K	$110K	10x	as long as short
Lighter 1000BONK	+0.0376%	1h	0.000003421	+0.146%	$355K	$475K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0407%	1h	0.000003410	−0.176%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0599%	1h	0.000003423	+0.205%	$9.8M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1457%	1h	0.000003420	+0.122%	$213K	$165K	50x	as long as short