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 +0.002%

Price spread now: Bitget against Bybit−0.060%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$620.616% of the position

Long on Bybit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.072%+$7 on $10k

Price spread, last 7 days+0.060%+$6 · spread now −0.060%, 7d avg −0.013%

Together, before fees+0.132%+$13 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: Bitget is 0.047% cheaper against Bybit than usual: you would sell low and buy high, −$5 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	Bybit 1000BONKUSDT	0.000003347	0.0100	pay 0.0050% / 4h	1h 25m	$10.1M	$16.6M	50x
Short	Bitget 1000BONKUSDT	0.000003345	0.0100	get 0.0050% / 4h	1h 25m	$4.2M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → −0.013%: −$4.7
Slippage, 4 orders: −$38.57
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$66.27
Costs to cover: 0.616%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Bitget: 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 Bybit live order book, 2 min ago	1.49 bp	12.3 bp −$12	34.5 bp −$345	354.7 bp −$35.5K	doesn't fit
Sell Bitget live order book, 2 min ago	4.48 bp	16.8 bp −$17	30.4 bp −$304	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	−0.0248%	1h	0.000003342	−0.149%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003355	+0.239%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0079%	4h	0.000003350	+0.090%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0049%	1h	0.000003347	0.000%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003349	+0.072%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003349	+0.073%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.181%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003350	+0.092%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003349	+0.060%	$188K	$300K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003348	+0.030%	$19K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003350	+0.096%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003351	+0.120%	$113K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003349	+0.049%	$15.1M	$51.6M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003347	long leg	$10.1M	$16.6M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003349	+0.060%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003348	+0.030%	$740K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003349	+0.060%	$10.1M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003349	+0.060%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDTshort	+0.0100%	4h	0.000003345	−0.060%	$4.2M	$3.1M	75x
BingX 1000BONK-USDT	+0.0100%	4h	0.000003348	+0.030%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003348	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003352	+0.152%	$301K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003353	+0.179%	$57K	$700K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003355	+0.239%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003347	0.000%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003347	−0.003%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003346	−0.030%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0107%	4h	0.000003361	+0.418%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.367%	$560	—	100x	as long as short
Hyperliquid kBONK	+0.0909%	1h	0.000003354	+0.209%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0967%	1h	0.000003352	+0.136%	$204K	$149K	50x	as long as short