BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0025%/8h= −2.7% APRnext payment −$0.13 per $10,000 · paid last 24h +0.012%

Price spread now: Bybit against BloFin−0.095%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 4 days (all we have)+0.610%+$61 · spread now −0.095%, 7d avg −0.049%

Together, before fees+0.338%+$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.046% cheaper against BloFin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.049%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003375	0.0125	pay 0.0063% / 4h	1h 07m	$953K	$15.0M	75x
Short	Bybit 1000BONKUSDT	0.000003372	0.0100	get 0.0050% / 4h	1h 07m	$10.7M	$18.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$5.27
Price spread: −0.095% → −0.049%: −$4.6
Slippage, 4 orders: −$30.36
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$63.22
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Bybit: live order book, 1 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 BloFin live order book, 7 min ago	4.41 bp	16.6 bp −$17	24.6 bp −$246	76.9 bp −$7,686	doesn't fit
Sell Bybit live order book, 1 min ago	1.48 bp	12.6 bp −$13	30.7 bp −$307	165.9 bp −$16.6K	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	−0.0336%	1h	0.000003370	−0.148%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003375	+0.010%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003374	−0.024%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.993%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0065%	4h	0.000003371	−0.119%	$29K	$57K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003372	−0.092%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003375	0.000%	$223K	$670K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003375	+0.014%	$78K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003375	0.000%	$113K	$104K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003373	−0.059%	$16.2M	$57.5M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003372	−0.095%	$10.7M	$18.1M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003373	−0.059%	$2.5M	$8.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003374	−0.030%	$839K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003374	−0.030%	$9.5M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003373	−0.059%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003370	−0.148%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003373	−0.059%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003376	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003386	+0.336%	$307K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003378	+0.089%	$57K	$706K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003373	−0.044%	$27K	$96K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003378	+0.089%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003373	−0.059%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003381	+0.178%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003372	−0.101%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003371	−0.119%	$4K	—	3x	as long as short
BloFin 1000BONK-USDTlong	+0.0125%	4h	0.000003375	long leg	$953K	$15.0M	75x
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.111%	$564	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0343%	1h	0.000003374	−0.030%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0807%	1h	0.000003380	+0.148%	$10.0M	$4.7M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2056%	1h	0.000003379	+0.123%	$218K	$174K	50x	as long as short