Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0030%/8h= +3.2% APRpaid last 24h +0.061%

Price spread now: gTrade (Gains Network) against Orderly−0.009%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 gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000BONK_USDC	0.000003389	−0.0030	get 0.0015% / 4h	3h 01m	$29K	$39K	20x
Short	gTrade (Gains Network) BONK/USD	0.000003389	L +0.0001% / S +0.0001%	pay 0.0000% / 1h	1m 58s	$23	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.009%Rate

Funding earned: $6.23
Price spread: −0.009% → 0.000%: −$0.89
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$10.66
Costs to cover: 0.160%
Break-even: 19.0 days

Slippage unknown: Orderly: no order-book sample; gTrade (Gains Network): 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—

Orderly and gTrade (Gains Network): 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	−0.0376%	1h	0.000003388	−0.030%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003388	−0.030%	$921K	$14.7M	75x	as long as short
Orderly PERP_1000BONK_USDClong	−0.0030%	4h	0.000003389	long leg	$29K	$39K	20x
dYdX BONK-USD	0.0000%	1h	0.000003395	+0.189%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USDshort	L +0.0001% / S +0.0001%	1h	0.000003389	−0.009%	$23	—	150x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.393%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0045%	1h	0.000003390	+0.030%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003388	−0.016%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003386	−0.074%	$23K	$105K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003392	+0.078%	$65K	$252K	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	0.000003397	+0.236%	$113K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003389	−0.012%	$15.8M	$54.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003387	−0.047%	$10.7M	$17.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003386	−0.089%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003388	−0.030%	$724K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003389	0.000%	$9.9M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003389	−0.006%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003384	−0.148%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003390	+0.030%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003406	+0.498%	$312K	$125K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003415	+0.767%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003396	+0.207%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003387	−0.059%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003419	+0.885%	$96K	$159K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003386	−0.097%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003388	−0.030%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.478%	$566	—	100x	as long as short
Lighter 1000BONK	+0.0408%	1h	0.000003395	+0.177%	$353K	$475K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0428%	1h	0.000003390	+0.030%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0595%	1h	0.000003393	+0.118%	$9.7M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1466%	1h	0.000003397	+0.239%	$212K	$165K	50x	as long as short