Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0010%/8h= −1.0% APRpaid last 24h +0.017%

Price spread now: Reya against BloFin+0.239%46s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.239% dearer against BloFin than usual: you sell high and buy low (spread +0.239% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 3 months. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin 1000BONK-USDT	0.000003528	0.0092	pay 0.0046% / 4h	22m 26s	$1.1M	$20.2M	75x
Short	Reya kBONKRUSDPERP	0.000003536	0.0083	get 0.0010% / 1h	22m 26s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.239%Rate

Funding earned: −$2
Price spread: +0.239% → 0.000%: $23.88
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $3.88
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: BloFin: live order book, 7 min ago; Reya: 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, 7 min ago	1.43 bp	14.9 bp −$15	29.4 bp −$294	124.1 bp −$12.4K	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0040%	1h	0.000003527	−0.028%	$43K	$65K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003555	+0.774%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003538	+0.286%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.200%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003536	+0.239%	$4	—	15x
BloFin 1000BONK-USDTlong	+0.0092%	4h	0.000003528	long leg	$1.1M	$20.2M	75x
Nado kBONK-PERP	+0.0100%	1h	0.000003536	+0.241%	$67K	$137K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003540	+0.340%	$59K	$319K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003554	+0.737%	$118K	$149K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003543	+0.430%	$18.4M	$87.2M	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	0.000003540	+0.332%	$12.4M	$26.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003544	+0.454%	$3.0M	$14.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003540	+0.340%	$939K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003539	+0.312%	$11.2M	$9.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003542	+0.408%	$3.0M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003538	+0.283%	$4.6M	$5.3M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003540	+0.340%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003507	−0.599%	$330K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003508	−0.567%	$59K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003541	+0.368%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003548	+0.567%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003543	+0.425%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003533	+0.142%	$100K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003543	+0.413%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003536	+0.227%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.966%	$540	—	100x	as long as short
Lighter 1000BONK	+0.0480%	1h	0.000003560	+0.907%	$250K	$767K	10x	as long as short
Hyperliquid kBONK	+0.0992%	1h	0.000003543	+0.425%	$12.1M	$8.3M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.1163%	1h	0.000003543	+0.425%	$35K	$164K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1641%	1h	0.000003544	+0.454%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4492%	1h	0.000003548	+0.564%	$181K	$276K	50x	as long as short