Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.008%

Price spread now: dYdX against BloFin+0.205%7-day average — · you sell dearer than you buy

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

Long on BloFin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. dYdX is 0.205% dearer against BloFin than usual: you sell high and buy low (spread +0.205% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003584	0.0084	pay 0.0042% / 4h	2h 12m	$1.1M	$18.4M	75x
Short	dYdX BONK-USD	0.000003591	0	get 0.0000% / 1h	12m 29s	$13K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.205%Rate

Funding earned: −$17.55
Price spread: +0.205% → 0.000%: $20.52
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$19.03
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 6 min ago; dYdX: 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 BloFin live order book, 6 min ago	1.41 bp	15.9 bp −$16	19.8 bp −$198	87.2 bp −$8,718	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0136%	1h	0.000003583	−0.028%	$44K	$49K	50x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003591	+0.205%	$13K	$3K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003585	+0.031%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.650%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003591	+0.193%	$4	—	15x	as long as short
BloFin 1000BONK-USDTlong	+0.0084%	4h	0.000003584	long leg	$1.1M	$18.4M	75x
Orderly PERP_1000BONK_USDC	+0.0098%	4h	0.000003585	+0.028%	$31K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003593	+0.265%	$47K	$115K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003589	+0.151%	$60K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003595	+0.307%	$121K	$125K	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	0.000003592	+0.234%	$18.5M	$73.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003590	+0.176%	$11.9M	$22.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003593	+0.251%	$2.8M	$12.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003589	+0.140%	$964K	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003590	+0.167%	$11.4M	$8.3M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003593	+0.246%	$3.1M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003590	+0.167%	$4.6M	$4.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003593	+0.251%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003548	−0.993%	$330K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003534	−1.395%	$60K	$703K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003591	+0.195%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003586	+0.056%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003588	+0.112%	$102K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003594	+0.279%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003581	−0.084%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0192%	1h	0.000003598	+0.391%	$251K	$724K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−16.295%	$395	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0587%	1h	0.000003586	+0.056%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1541%	1h	0.000003590	+0.167%	$11.9M	$6.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1630%	1h	0.000003596	+0.335%	$47K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2584%	1h	0.000003599	+0.405%	$221K	$218K	50x	as long as short