Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bybit+0.160%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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 0.160% dearer against Bybit than usual: you sell high and buy low (spread +0.160% now, against zero (this spread has no 7-day history yet)): +$16 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003436	0.0100	pay 0.0050% / 4h	2h 23m	$10.9M	$17.8M	50x
Short	dYdX BONK-USD	0.000003441	0	get 0.0000% / 1h	23m 19s	$13K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$21
Price spread: +0.160% → 0.000%: $15.95
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$26.05
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, just now; 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 Bybit live order book, just now	1.46 bp	13.5 bp −$13	35.2 bp −$352	doesn't fit	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 30 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	−0.0336%	1h	0.000003437	+0.032%	$44K	$27K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0005%	4h	0.000003435	−0.026%	$29K	$58K	20x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003441	+0.160%	$13K	$3K	10x
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003435	−0.026%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003434	−0.052%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.712%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003432	−0.115%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003446	+0.294%	$232K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003434	−0.055%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003443	+0.215%	$66K	$253K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003442	+0.178%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003437	+0.046%	$16.2M	$56.7M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003436	long leg	$10.9M	$17.8M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003434	−0.055%	$2.5M	$8.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003436	+0.003%	$760K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003438	+0.061%	$9.6M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003436	+0.012%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003433	−0.084%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003437	+0.032%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003458	+0.641%	$315K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003448	+0.352%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003447	+0.323%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003435	−0.026%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003450	+0.410%	$98K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003433	−0.082%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003437	+0.032%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.687%	$574	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0373%	1h	0.000003448	+0.352%	$31K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0986%	1h	0.000003442	+0.178%	$10.2M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2044%	1h	0.000003446	+0.292%	$215K	$165K	50x	as long as short