Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.019%

Price spread now: gTrade (Gains Network) against BloFin−0.055%7-day average — · you buy dearer than you sell

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

Long on BloFin Short on gTrade (Gains Network)

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.055% cheaper against BloFin than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003435	0.0094	pay 0.0047% / 4h	12m 45s	$973K	$15.5M	75x
Short	gTrade (Gains Network) BONK/USD	0.000003433	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	12m 45s	$24	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.055%Rate

Funding earned: −$19.99
Price spread: −0.055% → 0.000%: −$5.53
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$47.52
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 6 min ago; gTrade (Gains Network): 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 BloFin live order book, 6 min ago	4.41 bp	12.9 bp −$13	23.3 bp −$233	89.1 bp −$8,906	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0320%	1h	0.000003390	−1.310%	$42K	$35K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003432	−0.076%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDshort	L +0.0001% / S +0.0001%	1h	0.000003433	−0.055%	$24	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.687%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0076%	4h	0.000003435	0.000%	$29K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003437	+0.057%	$4	—	15x	as long as short
BloFin 1000BONK-USDTlong	+0.0094%	4h	0.000003435	long leg	$973K	$15.5M	75x
Lighter 1000BONK	+0.0096%	1h	0.000003440	+0.146%	$225K	$672K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003432	−0.090%	$79K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003437	+0.058%	$114K	$109K	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	0.000003436	+0.043%	$16.6M	$59.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003439	+0.111%	$10.9M	$18.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003440	+0.146%	$2.5M	$9.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003435	0.000%	$821K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003440	+0.146%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003433	−0.067%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003431	−0.116%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003433	−0.058%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003417	−0.527%	$311K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003422	−0.378%	$58K	$705K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003437	+0.058%	$31K	$101K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003440	+0.146%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003437	+0.058%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003440	+0.146%	$97K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003431	−0.115%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003432	−0.087%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.664%	$574	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0347%	1h	0.000003439	+0.116%	$30K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0624%	1h	0.000003436	+0.029%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0778%	1h	0.000003439	+0.116%	$10.1M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2447%	1h	0.000003444	+0.272%	$222K	$177K	50x	as long as short