Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.4240%/8h= +464.3% APRpaid last 24h +0.614%

Price spread now: GMX against BingX−14.700%7-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 GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. GMX is 14.700% cheaper against BingX than usual: you would sell low and buy high (spread −14.700% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$1,470 on $10k: about 12 days of funding at the current rate (+$127 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDT	0.000003517	0.0100	pay 0.0050% / 4h	3h 23m	—	$4.8M	—
Short	GMX BONK/USD [ETH-USDC]	0.000003000	L +0.0197% / S −0.4340%	get 0.0542% / 1h	23m 47s	$587	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −14.700%Rate

Funding earned: $890.37
Price spread: −14.700% → 0.000%: −$1,470
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$601.63
Costs to cover: 0.220%
Break-even: 11.7 days

Slippage unknown: BingX: live order book, 11 min ago; GMX: 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, 11 min ago	4.28 bp	13.6 bp −$14	23.6 bp −$236	72.4 bp −$7,244	590.8 bp −$295.4K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0312%	1h	0.000003509	−0.227%	$44K	$39K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003511	−0.162%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003508	−0.267%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.909%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0083%	4h	0.000003508	−0.256%	$30K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003511	−0.175%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003514	−0.071%	$38K	$108K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003517	+0.011%	$81K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003515	−0.057%	$118K	$107K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003518	+0.028%	$17.4M	$63.1M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003517	0.000%	$11.5M	$19.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003518	+0.028%	$2.6M	$9.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003512	−0.142%	$878K	$2.8M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003518	+0.028%	$9.8M	$7.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003515	−0.057%	$3.0M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003516	−0.028%	$4.5M	$3.2M	75x	as long as short
BingX 1000BONK-USDTlong	+0.0100%	4h	0.000003517	long leg	—	$4.8M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003522	+0.138%	$326K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003504	−0.370%	$59K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003516	−0.028%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003509	−0.227%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003517	0.000%	$100K	$121K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003512	−0.155%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003509	−0.227%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0125%	4h	0.000003516	−0.028%	$991K	$16.6M	75x	as long as short
GMX BONK/USD [ETH-USDC]short	L +0.0197% / S −0.4340%	1h	0.000003000	−14.700%	$587	—	100x
Lighter 1000BONK	+0.0200%	1h	0.000003514	−0.085%	$246K	$692K	10x	as long as short
Hyperliquid kBONK	+0.0841%	1h	0.000003523	+0.171%	$10.4M	$5.0M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0890%	1h	0.000003512	−0.142%	$6K	$123K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1410%	1h	0.000003518	+0.028%	$48K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2388%	1h	0.000003516	−0.031%	$224K	$178K	50x	as long as short