Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: ApeX Omni against Bybit−1.014%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$167as in the Price arb table

costs, in and out, $10k−$630.633% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)+0.985%+$98 · spread now −1.014%, 7d avg +0.019%

Together, before fees+0.949%+$95 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: ApeX Omni is 1.033% cheaper against Bybit than usual: you would sell low and buy high, −$103 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003590	0.0100	pay 0.0050% / 4h	1h 09m	$12.3M	$25.0M	50x
Short	ApeX Omni 1000BONKUSDT	0.000003554	0.0100	get 0.0013% / 1h	9m 27s	$60K	$706K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −1.014%Rate

Funding earned: $0
Price spread: −1.014% → +0.019%: −$103.33
Slippage, 4 orders: −$42.28
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$166.6
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; ApeX Omni: live order book, 34 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 Bybit live order book, 4 min ago	1.41 bp	13.3 bp −$13	34.5 bp −$345	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 34 min ago	8.20 bp	15.2 bp −$15	98.6 bp −$986	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	−0.0016%	1h	0.000003550	−1.125%	$44K	$62K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003570	−0.568%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003558	−0.902%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.812%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003557	−0.919%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003585	−0.136%	$57K	$124K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003593	+0.062%	$60K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003578	−0.345%	$119K	$139K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003593	+0.084%	$18.7M	$81.6M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003590	long leg	$12.3M	$25.0M	50x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003596	+0.156%	$3.0M	$14.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003588	−0.067%	$977K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003586	−0.123%	$12.3M	$9.3M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003586	−0.128%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003588	−0.067%	$4.6M	$4.8M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003591	+0.017%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003553	−1.046%	$334K	$147K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003554	−1.014%	$60K	$706K	25x
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003595	+0.128%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003568	−0.624%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003561	−0.819%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003573	−0.485%	$101K	$131K	30x	as long as short
BloFin 1000BONK-USDT	+0.0101%	4h	0.000003557	−0.930%	$1.1M	$19.2M	75x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003579	−0.319%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003590	−0.011%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0184%	1h	0.000003580	−0.290%	$252K	$749K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.444%	$543	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0875%	1h	0.000003561	−0.819%	$35K	$176K	10x	as long as short
Hyperliquid kBONK	+0.1300%	1h	0.000003593	+0.072%	$12.3M	$7.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1614%	1h	0.000003571	−0.540%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.3022%	1h	0.000003573	−0.493%	$220K	$223K	50x	as long as short