Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hnext payment +$0.00 per $10,000 · paid last 24h +0.008%

Price spread now: BingX against Gate−0.030%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$700.705% of the position

Long on Gate Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now −0.030%, 7d avg +0.020%

Together, before fees+0.113%+$11 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: BingX is 0.050% cheaper against Gate than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BONK_USDT	0.000003344	0.0100	pay 0.0050% / 4h	6m 21s	$735K	$2.5M	50x
Short	BingX 1000BONK-USDT	0.000003343	0.0100	get 0.0050% / 4h	6m 21s	—	$8.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Gate. 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 GatebpFee BingXbpOrdersPrice spread, now −0.030%Rate

Funding earned: $0
Price spread: −0.030% → +0.020%: −$5.04
Slippage, 4 orders: −$45.45
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BingX: 5 bp × 2 orders: −$10
Net: −$75.49
Costs to cover: 0.705%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; BingX: live order book, 6 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 Gate live order book, 1 min ago	2.99 bp	19.2 bp −$19	77.3 bp −$773	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	5.99 bp	16.0 bp −$16	26.4 bp −$264	61.3 bp −$6,133	519.6 bp −$259.8K

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	−0.0280%	1h	0.000003314	−0.897%	$42K	$20K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003350	+0.179%	$1.0M	$12.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0034%	4h	0.000003343	−0.030%	$29K	$42K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003346	+0.054%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003345	+0.029%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003345	+0.030%	$11K	$100K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.093%	$3K	$9K	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003346	+0.073%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003347	+0.090%	$197K	$274K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003344	+0.015%	$17K	$104K	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	0.000003349	+0.145%	$64K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003346	+0.060%	$112K	$110K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003343	−0.036%	$15.0M	$48.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003342	−0.057%	$10.0M	$15.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003346	+0.060%	$2.4M	$7.3M	20x	as long as short
Gate BONK_USDTlong	+0.0100%	4h	0.000003344	long leg	$735K	$2.5M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003341	−0.090%	$9.5M	$6.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003348	+0.111%	$2.7M	$9.5M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003340	−0.120%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDTshort	+0.0100%	4h	0.000003343	−0.030%	—	$8.2M	—
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003347	+0.090%	$30K	$6K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003342	−0.045%	$300K	$105K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003350	+0.179%	$57K	$690K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003352	+0.239%	$2K	$11K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003346	+0.060%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003350	+0.179%	$79K	$117K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003345	+0.037%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003344	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.287%	$559	—	100x	as long as short
Hyperliquid kBONK	+0.0672%	1h	0.000003352	+0.239%	$9.8M	$6.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1256%	1h	0.000003350	+0.170%	$203K	$181K	50x	as long as short