Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.009%

Price spread now: Extended against Variational Omni+0.722%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Extended

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 airdropVariational Omni: Active · Extended: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.722% dearer against Variational Omni than usual: you sell high and buy low, +$72 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000BONK	0.000003430	0.0100	pay 0.0050% / 4h	2h 01m	$313K	$134K	—
Short	Extended 1000BONK-USD	0.000003455	0.0104	get 0.0013% / 1h	1m 14s	$22K	$4K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now +0.722%Rate

Funding earned: $0.84
Price spread: +0.722% → 0.000%: $72.25
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $68.09
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Extended: 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 Variational Omni RFQ quote, 3 min ago	5.82 bp	doesn't fit	55.2 bp −$552	doesn't fit	doesn't fit
Sell Extended no order-book sample	—	—	—	—	—

Extended: 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	+0.469%	$44K	$27K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003450	+0.595%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003454	+0.694%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDC	+0.0024%	4h	0.000003454	+0.703%	$30K	$58K	20x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.545%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0039%	1h	0.000003457	+0.790%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003450	+0.599%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003455	+0.732%	$225K	$678K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003453	+0.688%	$81K	$261K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003452	+0.644%	$115K	$123K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003452	+0.655%	$16.1M	$57.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003451	+0.615%	$11.0M	$17.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003453	+0.673%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003452	+0.644%	$896K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003457	+0.790%	$9.7M	$7.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003450	+0.586%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003448	+0.528%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003453	+0.673%	—	$6.5M	—	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003430	long leg	$313K	$134K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003430	+0.003%	$58K	$708K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003450	+0.586%	$27K	$104K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003460	+0.878%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003455	+0.732%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003446	+0.469%	$98K	$125K	30x	as long as short
Extended 1000BONK-USDshort	+0.0104%	1h	0.000003455	+0.722%	$22K	$4K	25x
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003454	+0.703%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.534%	$577	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0328%	1h	0.000003456	+0.761%	$31K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1003%	1h	0.000003458	+0.819%	$10.2M	$6.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2034%	1h	0.000003463	+0.970%	$224K	$173K	50x	as long as short