Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.006%

Price spread now: BloFin against Injective+3.849%7-day average — · you sell dearer than you buy

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

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 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 BloFin is 3.849% dearer against Injective than usual: you sell high and buy low: +$385 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BONK/USDC PERP	0.000003274	0.0033	pay 0.0004% / 1h	30m 30s	$3K	$57	5.5x
Short	BloFin 1000BONK-USDT	0.000003400	0.0148	get 0.0074% / 4h	30m 30s	$1.0M	$20.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +3.849%Rate

Funding earned: $24.15
Price spread: +3.849% → 0.000%: $384.85
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $396.98
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; BloFin: live order book, 7 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 Injective no order-book sample	—	—	—	—	—
Sell BloFin live order book, 7 min ago	1.46 bp	15.8 bp −$16	22.3 bp −$223	55.6 bp −$5,562	doesn't fit

Injective: 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 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
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003391	+3.568%	$23	—	150x	as long as short
Coinbase International 1000BONK-PERP-INTX	+0.0032%	1h	0.000003397	+3.757%	$44K	$89K	50x	as long as short
dYdX BONK-USD	+0.0033%	1h	0.000003391	+3.573%	$13K	$12K	10x	as long as short
Injective BONK/USDC PERPlong	+0.0033%	1h	0.000003274	long leg	$3K	$57	5.5x
Deribit 1000BONK_USDC-PERPETUAL	+0.0044%	1h	0.000003403	+3.940%	$23K	$152K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003393	+3.621%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003395	+3.696%	$225K	$756K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003404	+3.971%	$63K	$134K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003396	+3.739%	$46K	$209K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003392	+3.604%	$113K	$150K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003396	+3.739%	$17.3M	$90.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003393	+3.644%	$11.7M	$26.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003393	+3.635%	$2.9M	$14.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003390	+3.543%	$900K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003397	+3.757%	$10.7M	$11.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003394	+3.665%	$2.8M	$10.3M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003393	+3.635%	$4.3M	$5.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003395	+3.696%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003400	+3.834%	$322K	$137K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003412	+4.215%	$57K	$692K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003403	+3.940%	$29K	$45K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003408	+4.093%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003402	+3.910%	$2K	$9K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003425	+4.612%	$91K	$152K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003390	+3.537%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003404	+3.971%	$4K	—	3x	as long as short
BloFin 1000BONK-USDTshort	+0.0148%	4h	0.000003400	+3.849%	$1.0M	$20.0M	75x
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.1287%	1h	0.000003000	−8.369%	$403	—	100x	as long as short
Hyperliquid kBONK	+0.0445%	1h	0.000003398	+3.787%	$11.6M	$8.1M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1401%	1h	0.000003405	+3.991%	$175K	$257K	50x	as long as short
Backpack kBONK_USDC_PERP	+0.1438%	1h	0.000003402	+3.910%	$53K	$25K	10x	as long as short