Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1290%/8h= +141.2% APRpaid last 24h +0.009%

Price spread now: Kraken Futures against BloFin+0.089%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1041.036% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 3 days (all we have)−0.043%−$4 · spread now +0.089%, 7d avg +0.088%

Together, before fees+0.116%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.088%, so right now this pair is about funding alone: +$39 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.159% in total (about 8.3% 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	BloFin 1000BONK-USDT	0.000003338	−0.0140	get 0.0070% / 4h	2h 06m	$1.0M	$13.1M	75x
Short	Kraken Futures PF_BONKUSD	0.000003341	0.1150	get 0.0144% / 1h	6m 50s	$203K	$148K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.089%Rate

Funding earned: $270.86
Price spread: +0.089% → +0.088%: $0.05
Slippage, 4 orders: −$81.64
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $167.27
Costs to cover: 1.036%
Break-even: 2.7 days

Slippage from BloFin: live order book, 12 min ago; Kraken Futures: live order book, 16 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, 12 min ago	4.46 bp	13.7 bp −$14	24.5 bp −$245	69.5 bp −$6,946	doesn't fit
Sell Kraken Futures live order book, 16 min ago	20.70 bp	39.0 bp −$39	74.9 bp −$749	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
Deribit 1000BONK_USDC-PERPETUAL	−0.0648%	1h	0.000003336	−0.060%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003332	−0.180%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDTlong	−0.0140%	4h	0.000003338	long leg	$1.0M	$13.1M	75x
Orderly PERP_1000BONK_USDC	−0.0049%	4h	0.000003335	−0.090%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003339	+0.018%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003336	−0.065%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−1.917%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003336	−0.051%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003336	−0.060%	$197K	$290K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003336	−0.060%	$19K	$108K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003340	+0.063%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003343	+0.150%	$114K	$120K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003336	−0.070%	$14.9M	$51.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003333	−0.150%	$10.1M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003334	−0.120%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003337	−0.030%	$737K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003337	−0.030%	$10.0M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003337	−0.030%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003333	−0.150%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003335	−0.090%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003338	0.000%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003341	+0.102%	$301K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003346	+0.240%	$57K	$696K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003343	+0.150%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003335	−0.090%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003336	−0.058%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003334	−0.120%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.126%	$558	—	100x	as long as short
HTX BONK-USDT	+0.0563%	4h	0.000003376	+1.138%	$78K	$123K	30x	as long as short
Hyperliquid kBONK	+0.0735%	1h	0.000003343	+0.150%	$9.9M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.1150%	1h	0.000003341	+0.089%	$203K	$148K	50x