Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0215%/8h= +23.6% APRpaid last 24h +0.009%

Price spread now: Backpack against Aster+0.120%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Backpack

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 airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.120% dearer against Aster than usual: you sell high and buy low: +$12 more if the spread 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	Aster 1000BONKUSDT	0.000003401	0.0100	pay 0.0050% / 4h	31m 45s	$79K	$250K	10x
Short	Backpack kBONK_USDC_PERP	0.000003405	0.0315	get 0.0039% / 1h	31m 45s	$30K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.120%Rate

Funding earned: $45.21
Price spread: +0.120% → 0.000%: $12.03
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $39.23
Costs to cover: 0.180%
Break-even: 0.9 days

Slippage unknown: Aster: live order book, 25 min ago; Backpack: 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 Aster live order book, 25 min ago	8.88 bp	37.9 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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 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	−0.0320%	1h	0.000003363	−1.115%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003401	+0.014%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003401	+0.006%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.732%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0056%	4h	0.000003401	+0.003%	$963K	$15.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0073%	4h	0.000003401	+0.003%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003400	−0.029%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003404	+0.091%	$226K	$668K	10x	as long as short
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003401	long leg	$79K	$250K	10x
Pacifica kBONK	+0.0100%	1h	0.000003397	−0.115%	$113K	$108K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003401	+0.011%	$16.5M	$59.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003401	−0.003%	$10.8M	$18.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003405	+0.120%	$2.5M	$8.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003402	+0.032%	$799K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003400	−0.027%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003405	+0.106%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003396	−0.144%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003401	+0.003%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003365	−1.059%	$307K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003374	−0.791%	$57K	$707K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003401	+0.003%	$31K	$100K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003409	+0.238%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003403	+0.061%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003402	+0.032%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003403	+0.064%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003399	−0.056%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.788%	$568	—	100x	as long as short
Backpack kBONK_USDC_PERPshort	+0.0315%	1h	0.000003405	+0.120%	$30K	$7K	10x
Deribit 1000BONK_USDC-PERPETUAL	+0.0338%	1h	0.000003402	+0.032%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0735%	1h	0.000003408	+0.208%	$10.0M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2473%	1h	0.000003408	+0.222%	$220K	$177K	50x	as long as short