Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.149%

Price spread now: MEXC against Coinbase International+0.056%51s7-day average — · you sell dearer than you buy

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

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and MEXC is 0.056% dearer against Coinbase International than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000BONK-PERP-INTX	0.000003558	−0.0016	get 0.0002% / 1h	11m 26s	$44K	$62K	50x
Short	MEXC 1000BONK_USDT	0.000003560	0.0100	get 0.0050% / 4h	1h 11m	$12.3M	$9.3M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now +0.056%Rate

Funding earned: $24.36
Price spread: +0.056% → 0.000%: $5.62
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $19.98
Costs to cover: 0.100%
Break-even: 1.3 days

Slippage unknown: Coinbase International: no order-book sample; MEXC: live order book, 2 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	1.41 bp	5.8 bp −$6	13.0 bp −$130	68.3 bp −$6,828	131.5 bp −$65.8K

Coinbase International: 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-INTXlong	−0.0016%	1h	0.000003558	long leg	$44K	$62K	50x
dYdX BONK-USD	0.0000%	1h	0.000003552	−0.160%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003554	−0.112%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.982%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0080%	4h	0.000003554	−0.112%	$1.1M	$19.1M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003557	−0.017%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003557	−0.028%	$55K	$124K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003557	−0.018%	$59K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003555	−0.084%	$118K	$139K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003559	+0.028%	$18.5M	$81.3M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003557	−0.031%	$12.2M	$25.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003555	−0.084%	$2.9M	$13.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003554	−0.112%	$962K	$3.5M	50x	as long as short
MEXC 1000BONK_USDTshort	+0.0100%	4h	0.000003560	+0.056%	$12.3M	$9.3M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003555	−0.098%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003553	−0.141%	$4.6M	$4.8M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003558	0.000%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003567	+0.249%	$336K	$147K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003557	−0.028%	$60K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003557	−0.028%	$30K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003567	+0.253%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003561	+0.084%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003565	+0.197%	$101K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003554	−0.099%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003558	0.000%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0160%	1h	0.000003558	0.000%	$249K	$748K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.683%	$543	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0874%	1h	0.000003563	+0.141%	$35K	$176K	10x	as long as short
Hyperliquid kBONK	+0.1282%	1h	0.000003563	+0.141%	$12.2M	$7.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1631%	1h	0.000003565	+0.197%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.3019%	1h	0.000003576	+0.503%	$220K	$223K	50x	as long as short