Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0141%/8h= −15.4% APRpaid last 24h +0.018%

Price spread now: BloFin against gTrade (Gains Network)+0.655%590s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)Short on BloFin

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

The price spread pays, funding is against you. BloFin is 0.655% dearer against gTrade (Gains Network) than usual: you sell high and buy low (spread +0.655% now, against zero (this spread has no 7-day history yet)): +$65 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 16 days. The two prices were read 590 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	gTrade (Gains Network) BONK/USD	0.000003392	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	39m 00s	$23	—	150x
Short	BloFin 1000BONK-USDT	0.000003414	−0.0140	pay 0.0070% / 4h	2h 39m	$939K	$14.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BloFinbpOrdersPrice spread, now +0.655%Rate

Funding earned: −$29.52
Price spread: +0.655% → 0.000%: $65.45
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $13.94
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: gTrade (Gains Network): no order-book sample; BloFin: live order book, 10 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell BloFin live order book, 10 min ago	1.46 bp	7.5 bp −$7	25.4 bp −$254	73.1 bp −$7,314	doesn't fit

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	−0.0336%	1h	0.000003369	−0.672%	$43K	$26K	50x	as long as short
BloFin 1000BONK-USDTshort	−0.0140%	4h	0.000003414	+0.655%	$939K	$14.9M	75x
Orderly PERP_1000BONK_USDC	−0.0017%	4h	0.000003387	−0.142%	$29K	$49K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003390	−0.040%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDlong	L +0.0001% / S +0.0001%	1h	0.000003392	long leg	$23	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.473%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0045%	1h	0.000003390	−0.053%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003395	+0.094%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003396	+0.124%	$26K	$115K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003388	−0.101%	$65K	$253K	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	0.000003389	−0.083%	$112K	$125K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003389	−0.073%	$16.0M	$56.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003390	−0.065%	$10.7M	$17.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003389	−0.083%	$2.5M	$8.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003387	−0.142%	$737K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003390	−0.053%	$9.5M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003389	−0.074%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003387	−0.142%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003387	−0.142%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003379	−0.378%	$309K	$127K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003396	+0.124%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003390	−0.053%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003392	+0.006%	$96K	$161K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003387	−0.136%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003388	−0.112%	$4K	—	3x	as long as short
ApeX Omni 1000BONKUSDT	+0.0145%	1h	0.000003411	+0.566%	$57K	$714K	25x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.551%	$566	—	100x	as long as short
Lighter 1000BONK	+0.0224%	1h	0.000003392	+0.006%	$231K	$666K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0320%	1h	0.000003393	+0.035%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0869%	1h	0.000003397	+0.153%	$10.1M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2075%	1h	0.000003396	+0.126%	$212K	$165K	50x	as long as short