Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h +0.002%

Price spread now: BloFin against Pacifica+0.149%94s7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as 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−$560.564% of the position

Long on Pacifica Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.257%+$26 on $10k

Price spread, last 3 days (all we have)−0.283%−$28 · spread now +0.149%, 7d avg +0.018%

Together, before fees−0.026%+ Points / potential airdropPacifica: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.130% dearer against Pacifica than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of +0.018%): +$13 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 43 hours. Mind the row above: over the last 7 days funding on this pair paid +0.257%, so the current rate has only just turned against you. The two prices were read 94 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	Pacifica kBONK	0.000003363	0.0100	pay 0.0013% / 1h	13m 39s	$114K	$123K	10x
Short	BloFin 1000BONK-USDT	0.000003368	−0.0140	pay 0.0070% / 4h	1h 13m	$1.0M	$13.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Pacifica. 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 PacificabpFee BloFinbpOrdersPrice spread, now +0.149%Rate

Funding earned: −$50.4
Price spread: +0.149% → +0.018%: $13.02
Slippage, 4 orders: −$36.38
Fee Pacifica: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$93.76
Costs to cover: 0.564%
Break-even: never at this rate

Slippage from Pacifica: live order book, 4 min ago; BloFin: live order book, 5 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 Pacifica live order book, 4 min ago	4.47 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	2.97 bp	18.6 bp −$19	25.5 bp −$255	61.1 bp −$6,106	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	−0.0248%	1h	0.000003342	−0.624%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDTshort	−0.0140%	4h	0.000003368	+0.149%	$1.0M	$13.4M	75x
Orderly PERP_1000BONK_USDC	−0.0082%	4h	0.000003367	+0.119%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003366	+0.086%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003362	−0.019%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003365	+0.059%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.646%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003363	+0.001%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003363	0.000%	$189K	$301K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003369	+0.164%	$65K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONKlong	+0.0100%	1h	0.000003363	long leg	$114K	$123K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003362	−0.030%	$15.2M	$51.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003360	−0.083%	$10.2M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003361	−0.059%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003362	−0.030%	$720K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003361	−0.059%	$10.1M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003365	+0.074%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.119%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003363	0.000%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003367	+0.119%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003359	−0.117%	$302K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003364	+0.030%	$57K	$700K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003367	+0.104%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003368	+0.149%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003365	+0.059%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003372	+0.268%	$91K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003359	−0.125%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003366	+0.089%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.794%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0928%	1h	0.000003371	+0.238%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0961%	1h	0.000003372	+0.276%	$205K	$149K	50x	as long as short