BONER arbitrage explained
Right now Boner Coin (BONER) trades on 3 venues we scan: 3 perpetual markets, 2 spot markets and 0 DEX pools. The lowest ask is on Aster perp at $0.05 and the highest bid on MEXC perp at $0.0509.
The widest BONER perpetual spread is between Aster and MEXC: long BONER on Aster at $0.05 and short on MEXC at $0.0509 for +1.70% gross, or +1.54% after the 0.16% two-leg fee model. No transfer is needed: both positions stay on their exchanges until the prices converge. The funding difference on this pair is +0.342% per day, which the position collects while it is open.
For a spot–perpetual (cash-and-carry) trade, the best BONER route is to buy spot on MEXC and short the perpetual on MEXC: +0.08% gross, -0.12% net, with +0.069% a day of funding on the short leg.
Spot–spot BONER arbitrage (buy on MEXC, withdraw, deposit and sell on Gate) shows -0.33% gross right now. It only works if withdrawals on the buying exchange and deposits on the selling exchange are open, so check the D/W dots before moving coins.
Small BONER gaps usually disappear after fees, slippage and funding. Look at the Net column, the executable Depth and the spread history before trading: a gap that has been open for days is a different trade from a one-minute spike.
Related: BONER funding rates · BONER spread charts · Boner Coin price · arbitrage scanner for all coins.