Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: ApeX Omni against MEXC+1.940%81s7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$420.417% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)−1.966%−$197 · spread now +1.940%, 7d avg −0.004%

Together, before fees−1.905%−$190 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: ApeX Omni is 1.944% dearer against MEXC than usual: you sell high and buy low, +$194 on $10k if it goes back to its 7-day average of −0.004%. The two prices were read 81 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	MEXC 1000BONK_USDT	0.000003505	0.0100	pay 0.0050% / 4h	56m 11s	$11.5M	$9.4M	125x
Short	ApeX Omni 1000BONKUSDT	0.000003573	0.0100	get 0.0013% / 1h	56m 11s	$60K	$706K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now +1.940%Rate

Funding earned: $0
Price spread: +1.940% → −0.004%: $194.42
Slippage, 4 orders: −$31.67
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $152.76
Costs to cover: 0.417%
Break-even: from the start

Slippage from MEXC: live order book, 2 min ago; ApeX Omni: live order book, 47 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 MEXC live order book, 2 min ago	1.41 bp	4.7 bp −$5	13.8 bp −$138	80.0 bp −$8,000	126.4 bp −$63.2K
Sell ApeX Omni live order book, 47 min ago	8.20 bp	15.2 bp −$15	98.6 bp −$986	doesn't fit	doesn't fit

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	−0.0040%	1h	0.000003496	−0.257%	$43K	$63K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003501	−0.104%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003491	−0.385%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.591%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0036%	1h	0.000003494	−0.314%	$34K	$176K	10x	as long as short
BloFin 1000BONK-USDT	+0.0078%	4h	0.000003531	+0.742%	$1.1M	$19.5M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003499	−0.174%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003504	−0.014%	$62K	$130K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003504	−0.029%	$65K	$318K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003513	+0.228%	$117K	$141K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003504	−0.029%	$18.1M	$83.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003500	−0.146%	$12.0M	$25.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003504	−0.029%	$2.9M	$14.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003496	−0.257%	$959K	$3.5M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003505	long leg	$11.5M	$9.4M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003497	−0.240%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003499	−0.171%	$4.5M	$5.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003502	−0.086%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003566	+1.737%	$336K	$156K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003573	+1.940%	$60K	$706K	25x
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003491	−0.399%	$30K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003502	−0.086%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003494	−0.314%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003510	+0.143%	$100K	$133K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003496	−0.271%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003490	−0.428%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.408%	$534	—	100x	as long as short
Lighter 1000BONK	+0.0888%	1h	0.000003501	−0.114%	$246K	$752K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1032%	1h	0.000003509	+0.114%	$54K	$23K	10x	as long as short
Hyperliquid kBONK	+0.1065%	1h	0.000003509	+0.114%	$12.0M	$8.1M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4545%	1h	0.000003507	+0.044%	$216K	$224K	50x	as long as short