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 Gate spot at $0.0478 and the highest bid on MEXC perp at $0.0486.
The widest BONER perpetual spread is between Gate and MEXC: long BONER on Gate at $0.0481 and short on MEXC at $0.0486 for +1.00% gross, or +0.84% 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 +0.043% 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 Gate and short the perpetual on MEXC: +1.63% gross, +1.43% net, with +0.073% a day of funding on the short leg.
Spot–spot BONER arbitrage (buy on Gate, withdraw, deposit and sell on MEXC) shows +0.94% 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.