Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.090%

Price spread now: Aevo against Orderly−0.029%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 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. Aevo is 0.029% cheaper against Orderly than usual: you would sell low and buy high (spread −0.029% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 19 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000BONK_USDC	0.000003391	−0.0020	get 0.0010% / 4h	2h 42m	$29K	$49K	20x
Short	Aevo 1000BONK-PERP	0.000003390	0.0104	get 0.0013% / 1h	42m 13s	$4K	—	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now −0.029%Rate

Funding earned: $26.12
Price spread: −0.029% → 0.000%: −$2.95
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: $1.17
Costs to cover: 0.220%
Break-even: 6.7 days

Slippage unknown: Orderly: no order-book sample; Aevo: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Orderly and Aevo: 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	−0.0336%	1h	0.000003390	−0.029%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003414	+0.678%	$939K	$14.9M	75x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0045%	1h	0.000003391	0.000%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDClong	−0.0020%	4h	0.000003391	long leg	$29K	$49K	20x
dYdX BONK-USD	0.0000%	1h	0.000003400	+0.280%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003393	+0.050%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.450%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003395	+0.117%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003395	+0.133%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003400	+0.257%	$65K	$253K	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	0.000003395	+0.118%	$113K	$125K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003391	0.000%	$15.9M	$55.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003391	0.000%	$10.7M	$17.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003393	+0.059%	$2.5M	$8.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003395	+0.118%	$738K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003390	−0.029%	$9.5M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003390	−0.018%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003392	+0.029%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003391	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003402	+0.338%	$310K	$127K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003397	+0.177%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003392	+0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003401	+0.295%	$96K	$161K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003392	+0.034%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERPshort	+0.0104%	1h	0.000003390	−0.029%	$4K	—	3x
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.531%	$567	—	100x	as long as short
Lighter 1000BONK	+0.0328%	1h	0.000003397	+0.177%	$383K	$513K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0360%	1h	0.000003413	+0.649%	$57K	$713K	25x	as long as short
Backpack kBONK_USDC_PERP	+0.0363%	1h	0.000003395	+0.118%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0890%	1h	0.000003403	+0.354%	$10.1M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2073%	1h	0.000003399	+0.240%	$212K	$165K	50x	as long as short