Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1360%/8h= +149.0% APRpaid last 24h +0.049%

Price spread now: Kraken Futures against Aster+0.095%54s7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1091.094% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.474%+$47 on $10k

Price spread, last 3 days (all we have)−0.041%−$4 · spread now +0.095%, 7d avg +0.093%

Together, before fees+0.433%+ Points / potential airdropAster: Stage 5 · farm board+$43 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.093%, so right now this pair is about funding alone: +$41 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.474% in total (about 24.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster 1000BONKUSDT	0.000003408	0.0100	pay 0.0050% / 4h	3h 11m	$65K	$253K	10x
Short	Kraken Futures PF_BONKUSD	0.000003411	0.1460	get 0.0183% / 1h	11m 24s	$213K	$165K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.095%Rate

Funding earned: $285.7
Price spread: +0.095% → +0.093%: $0.25
Slippage, 4 orders: −$91.45
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $176.51
Costs to cover: 1.094%
Break-even: 2.7 days

Slippage from Aster: live order book, 60 min ago; Kraken Futures: live order book, 61 min ago.

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, 60 min ago	7.47 bp	34.8 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 61 min ago	17.88 bp	26.7 bp −$27	73.4 bp −$734	doesn't fit	doesn't fit

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	−0.0376%	1h	0.000003371	−1.080%	$43K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003403	−0.141%	$1.0M	$14.5M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0037%	4h	0.000003402	−0.170%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003405	−0.073%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003404	−0.099%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.926%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003404	−0.112%	$4	—	15x	as long as short
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003408	long leg	$65K	$253K	10x
Pacifica kBONK	+0.0100%	1h	0.000003404	−0.111%	$115K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003403	−0.131%	$15.6M	$53.1M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003403	−0.141%	$10.7M	$17.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003406	−0.053%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003404	−0.111%	$732K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003402	−0.170%	$10.0M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003403	−0.146%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003403	−0.141%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003405	−0.082%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003404	−0.113%	$312K	$125K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003409	+0.036%	$57K	$708K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003405	−0.067%	$18K	$98K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003412	+0.124%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003406	−0.053%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003410	+0.065%	$94K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003404	−0.119%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003404	−0.111%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.966%	$569	—	100x	as long as short
Lighter 1000BONK	+0.0336%	1h	0.000003410	+0.065%	$353K	$474K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0337%	1h	0.000003407	−0.023%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0365%	1h	0.000003406	−0.053%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0597%	1h	0.000003410	+0.065%	$9.7M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.1460%	1h	0.000003411	+0.095%	$213K	$165K	50x