Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.024%

Price spread now: Bybit against gTrade (Gains Network)−0.042%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

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

Funding pays, the price is against you. Bybit is 0.042% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.042% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 33 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) BONK/USD	0.000003372	L 0.0000% / S +0.0001%	get 0.0000% / 1h	3m 42s	$1K	—	150x
Short	Bybit 1000BONKUSDT	0.000003371	0.0100	get 0.0050% / 4h	1h 03m	$10.2M	$16.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.042%Rate

Funding earned: $21.05
Price spread: −0.042% → 0.000%: −$4.15
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$4.1
Costs to cover: 0.210%
Break-even: 8.4 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: 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 Bybit live order book, 10 min ago	1.49 bp	11.6 bp −$12	32.6 bp −$326	188.4 bp −$18.8K	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	−0.0248%	1h	0.000003342	−0.901%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003371	−0.042%	$1.0M	$13.4M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0087%	4h	0.000003371	−0.042%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USDlong	L 0.0000% / S +0.0001%	1h	0.000003372	long leg	$1K	—	150x
dYdX BONK-USD	0.0000%	1h	0.000003373	+0.004%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003373	+0.018%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.918%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003373	+0.019%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003374	+0.047%	$189K	$301K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003372	−0.014%	$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	0.000003374	+0.047%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003373	+0.003%	$15.2M	$51.8M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003371	−0.042%	$10.2M	$16.7M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003374	+0.047%	$2.4M	$7.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003370	−0.071%	$722K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003372	−0.012%	$10.0M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003372	−0.015%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003370	−0.071%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003372	−0.012%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003374	+0.047%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003363	−0.277%	$302K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003359	−0.397%	$57K	$701K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003371	−0.027%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003377	+0.136%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003372	−0.012%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003381	+0.255%	$91K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003373	+0.013%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003370	−0.071%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.043%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0938%	1h	0.000003379	+0.196%	$10.2M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0960%	1h	0.000003375	+0.071%	$205K	$149K	50x	as long as short