Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0182%/8h= +19.9% APRpaid last 24h +0.076%

Price spread now: Nado against Orderly−0.015%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 Nado

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—+ Points / potential airdropNado: Active · farm boardneeds 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: +$5 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	0.000003407	−0.0082	get 0.0041% / 4h	44m 55s	$29K	$40K	20x
Short	Nado kBONK-PERP	0.000003406	0.0100	get 0.0012% / 1h	44m 55s	$20K	$106K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.015%Rate

Funding earned: $38.13
Price spread: −0.015% → 0.000%: −$1.47
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $23.66
Costs to cover: 0.130%
Break-even: 2.7 days

Slippage unknown: Orderly: no order-book sample; Nado: live order book, 32 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 Orderly no order-book sample	—	—	—	—	—
Sell Nado live order book, 32 min ago	2.98 bp	14.2 bp −$14	doesn't fit	doesn't fit	doesn't fit

Orderly: 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	−0.0456%	1h	0.000003342	−1.908%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003403	−0.117%	$1.0M	$13.9M	75x	as long as short
Orderly PERP_1000BONK_USDClong	−0.0082%	4h	0.000003407	long leg	$29K	$40K	20x
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003406	−0.018%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003405	−0.072%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003405	−0.059%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.904%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003405	−0.057%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003407	0.000%	$191K	$299K	10x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003406	−0.015%	$20K	$106K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003411	+0.106%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003408	+0.029%	$115K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003405	−0.061%	$15.4M	$52.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003406	−0.038%	$10.4M	$16.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003401	−0.176%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003405	−0.059%	$738K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003404	−0.088%	$9.8M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003405	−0.070%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003403	−0.117%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003405	−0.059%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003408	+0.032%	$306K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003400	−0.205%	$57K	$700K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003411	+0.117%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003406	−0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003409	+0.059%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003401	−0.179%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003406	−0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.946%	$569	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0233%	1h	0.000003407	0.000%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1307%	1h	0.000003413	+0.176%	$10.3M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1437%	1h	0.000003410	+0.083%	$207K	$149K	50x	as long as short