Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Bybit against Bitget+0.083%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$580.583% of the position

Long on Bitget Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days−0.083%−$8 · spread now +0.083%, 7d avg +0.013%

Together, before fees−0.123%−$12 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: Bybit is 0.070% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget 1000BONKUSDT	0.000003491	0.0100	pay 0.0050% / 4h	3h 01m	$4.5M	$3.6M	75x
Short	Bybit 1000BONKUSDT	0.000003494	0.0100	get 0.0050% / 4h	3h 01m	$11.5M	$21.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Bitget. 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 BitgetbpFee BybitbpOrdersPrice spread, now +0.083%Rate

Funding earned: $0
Price spread: +0.083% → +0.013%: $7
Slippage, 4 orders: −$35.26
Fee Bitget: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$51.26
Costs to cover: 0.583%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Bybit: 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 Bitget live order book, 2 min ago	5.64 bp	15.1 bp −$15	32.8 bp −$328	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.40 bp	12.6 bp −$13	33.5 bp −$335	162.2 bp −$16.2K	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	−0.0312%	1h	0.000003507	+0.458%	$44K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003508	+0.498%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003498	+0.189%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.216%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0036%	1h	0.000003502	+0.315%	$9K	$133K	10x	as long as short
BloFin 1000BONK-USDT	+0.0048%	4h	0.000003501	+0.286%	$1.0M	$17.2M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003504	+0.370%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0084%	4h	0.000003503	+0.344%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003505	+0.415%	$40K	$112K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003501	+0.276%	$66K	$291K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003515	+0.687%	$121K	$113K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003498	+0.201%	$17.7M	$68.3M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003494	+0.083%	$11.5M	$21.2M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003495	+0.115%	$2.6M	$10.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003501	+0.286%	$912K	$2.9M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003497	+0.172%	$9.6M	$7.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003495	+0.115%	$3.0M	$10.2M	75x	as long as short
Bitget 1000BONKUSDTlong	+0.0100%	4h	0.000003491	long leg	$4.5M	$3.6M	75x
BingX 1000BONK-USDC	+0.0100%	4h	0.000003493	+0.057%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003590	+2.832%	$333K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003560	+1.977%	$60K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003500	+0.258%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003496	+0.143%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003557	+1.891%	$101K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003503	+0.331%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003501	+0.286%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−14.065%	$386	—	100x	as long as short
Lighter 1000BONK	+0.0208%	1h	0.000003501	+0.286%	$246K	$703K	10x	as long as short
Hyperliquid kBONK	+0.1071%	1h	0.000003514	+0.659%	$11.6M	$6.0M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1545%	1h	0.000003500	+0.258%	$48K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2398%	1h	0.000003502	+0.326%	$223K	$203K	50x	as long as short