Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: Binance against Bybit+0.054%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$9 on $10k

Price spread, last 7 days−0.066%−$7 · spread now +0.054%, 7d avg +0.007%

Together, before fees−0.160%−$16 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: Binance is 0.046% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003360	0.0100	pay 0.0050% / 4h	1h 13m	$10.2M	$16.7M	50x
Short	Binance 1000BONKUSDT	0.000003362	0.0100	get 0.0050% / 4h	1h 13m	$15.2M	$51.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.054%Rate

Funding earned: $0
Price spread: +0.054% → +0.007%: $4.62
Slippage, 4 orders: −$24.29
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.67
Costs to cover: 0.453%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Binance: live order book, 13 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, 5 min ago	1.49 bp	10.8 bp −$11	31.0 bp −$310	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	1.49 bp	11.7 bp −$12	23.7 bp −$237	94.3 bp −$9,429	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	−0.0248%	1h	0.000003342	−0.542%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003368	+0.232%	$1.0M	$13.4M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0082%	4h	0.000003367	+0.202%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003366	+0.170%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003362	+0.064%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003365	+0.143%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.565%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003363	+0.085%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003363	+0.083%	$189K	$301K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003369	+0.248%	$65K	$251K	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	0.000003363	+0.083%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDTshort	+0.0100%	4h	0.000003362	+0.054%	$15.2M	$51.8M	75x
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003360	long leg	$10.2M	$16.7M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003361	+0.024%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003362	+0.054%	$720K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003361	+0.024%	$10.1M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003365	+0.158%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.036%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003363	+0.083%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003367	+0.202%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003359	−0.033%	$302K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003364	+0.113%	$57K	$700K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003367	+0.187%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003368	+0.232%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003365	+0.143%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003372	+0.351%	$91K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003359	−0.041%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003366	+0.173%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.720%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0928%	1h	0.000003371	+0.321%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0961%	1h	0.000003372	+0.360%	$205K	$149K	50x	as long as short