Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0075%/8h= −8.3% APRpaid last 24h −0.090%

Price spread now: Orderly against Pacifica−0.145%7-day average — · you buy dearer than you sell

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

Long on Pacifica Short on Orderly

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—+ Points / potential airdropPacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Orderly is 0.145% cheaper against Pacifica than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kBONK	0.000003450	0.0100	pay 0.0013% / 1h	0m 00s	$115K	$123K	10x
Short	Orderly PERP_1000BONK_USDC	0.000003445	0.0025	get 0.0012% / 4h	2h 00m	$30K	$58K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.145%Rate

Funding earned: −$15.83
Price spread: −0.145% → 0.000%: −$14.49
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$44.32
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 2 min ago; Orderly: 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 Pacifica live order book, 2 min ago	4.35 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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 30 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	0.000003446	−0.116%	$44K	$27K	50x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0330%	1h	0.000003444	−0.174%	$2K	$110K	10x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003449	−0.020%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003446	−0.110%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDCshort	+0.0025%	4h	0.000003445	−0.145%	$30K	$58K	20x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.101%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003445	−0.147%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003446	−0.116%	$225K	$678K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003445	−0.130%	$27K	$104K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003449	−0.020%	$81K	$261K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONKlong	+0.0100%	1h	0.000003450	long leg	$115K	$123K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003442	−0.222%	$16.1M	$57.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003440	−0.278%	$10.9M	$17.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003444	−0.174%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003446	−0.116%	$894K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003440	−0.290%	$9.6M	$7.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003446	−0.128%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003441	−0.261%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003440	−0.290%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003454	+0.113%	$315K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003430	−0.580%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003450	0.000%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003445	−0.145%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003453	+0.087%	$98K	$125K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003443	−0.212%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003445	−0.145%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.043%	$576	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0327%	1h	0.000003442	−0.232%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0996%	1h	0.000003448	−0.058%	$10.2M	$6.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2040%	1h	0.000003454	+0.110%	$223K	$173K	50x	as long as short