Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Gate−0.185%7-day average −0.026% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.033%−$3 on $10k

Price spread, last 4 days (all we have)+0.290%+$29 · spread now −0.185%, 7d avg −0.026%

Together, before fees+0.257%+ Points / potential airdropVariational Omni: Active · farm board+$26 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: Variational Omni is 0.159% cheaper against Gate than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BONK_USDT	0.000003399	0.0100	pay 0.0050% / 4h	1h 29m	$900K	$3.3M	50x
Short	Variational Omni 1000BONK	0.000003393	0.0100	get 0.0050% / 4h	1h 29m	$321K	$136K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.185%Rate

Funding earned: $0
Price spread: −0.185% → −0.026%: −$15.88
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$30.88
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; Variational Omni: RFQ quote, 18 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 Gate live order book, 2 min ago	4.42 bp	22.5 bp −$23	86.5 bp −$865	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 18 min ago	7.28 bp	doesn't fit	53.8 bp −$538	doesn't fit	doesn't fit

BONK on 31 exchanges

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	−0.0056%	1h	0.000003410	+0.324%	$44K	$89K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003384	−0.441%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.678%	$3K	$57	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0044%	1h	0.000003399	0.000%	$23K	$162K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003395	−0.112%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003402	+0.088%	$242K	$746K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003397	−0.044%	$64K	$134K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003402	+0.077%	$47K	$226K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003398	−0.029%	$113K	$153K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003399	−0.011%	$17.2M	$90.3M	75x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003397	−0.062%	$11.8M	$26.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003397	−0.059%	$3.0M	$14.5M	20x	as long as short
Gate BONK_USDTlong	+0.0100%	4h	0.000003399	long leg	$900K	$3.3M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003399	0.000%	$10.6M	$10.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003401	+0.056%	$2.8M	$10.6M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003397	−0.059%	$4.3M	$5.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003395	−0.118%	—	$5.0M	—	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003393	−0.185%	$321K	$136K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003394	−0.147%	$57K	$693K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003398	−0.029%	$29K	$46K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003405	+0.177%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003399	0.000%	$2K	$9K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003402	+0.088%	$97K	$138K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003398	−0.018%	$21K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003396	−0.088%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0144%	4h	0.000003402	+0.088%	$1.1M	$19.7M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−11.739%	$375	—	100x	as long as short
Hyperliquid kBONK	+0.0388%	1h	0.000003404	+0.147%	$11.6M	$8.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1328%	1h	0.000003404	+0.147%	$53K	$25K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1670%	1h	0.000003403	+0.124%	$173K	$254K	50x	as long as short
dYdX BONK-USD	+0.2148%	1h	0.000003396	−0.083%	$13K	$12K	10x	as long as short