Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0478%/8h= +52.4% APRpaid last 24h −0.052%

Price spread now: Deribit against BloFin−0.056%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$500.496% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.718%−$72 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.056%, 7d avg −0.018%

Together, before fees−0.644%−$64 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.037% cheaper against BloFin than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of −0.018%). If the spread goes back, that is −$4 on $10k: about 6 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 6 days funding on this pair cost −0.718%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003598	0.0107	pay 0.0053% / 4h	1h 06m	$1.1M	$19.6M	75x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003596	0.0585	get 0.0073% / 1h	6m 55s	$35K	$176K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.056%Rate

Funding earned: $100.45
Price spread: −0.056% → −0.018%: −$3.72
Slippage, 4 orders: −$30.64
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $47.09
Costs to cover: 0.496%
Break-even: 3.7 days

Slippage from BloFin: live order book, 7 min ago; Deribit: live order book, 2 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 BloFin live order book, 7 min ago	1.41 bp	10.2 bp −$10	26.6 bp −$266	93.3 bp −$9,334	doesn't fit
Sell Deribit live order book, 2 min ago	9.76 bp	16.0 bp −$16	doesn't fit	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	−0.0016%	1h	0.000003593	−0.139%	$45K	$63K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003589	−0.241%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003591	−0.195%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.005%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003588	−0.280%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003589	−0.236%	$58K	$126K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003596	−0.056%	$60K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003591	−0.195%	$119K	$139K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003594	−0.118%	$18.7M	$81.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003591	−0.200%	$12.4M	$25.1M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003594	−0.111%	$3.0M	$14.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003594	−0.111%	$981K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003592	−0.167%	$12.4M	$9.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003593	−0.153%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003592	−0.167%	$4.6M	$4.9M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003592	−0.167%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003553	−1.255%	$334K	$147K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003590	−0.222%	$60K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003596	−0.056%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003601	+0.083%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003596	−0.056%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003600	+0.056%	$102K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003593	−0.139%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003594	−0.111%	$4K	—	3x	as long as short
BloFin 1000BONK-USDTlong	+0.0107%	4h	0.000003598	long leg	$1.1M	$19.6M	75x
Lighter 1000BONK	+0.0184%	1h	0.000003598	0.000%	$252K	$750K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.620%	$548	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0585%	1h	0.000003596	−0.056%	$35K	$176K	10x
Hyperliquid kBONK	+0.1300%	1h	0.000003600	+0.056%	$12.4M	$8.0M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1626%	1h	0.000003599	+0.028%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2993%	1h	0.000003607	+0.254%	$222K	$223K	50x	as long as short