Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0436%/8h= +47.7% APRpaid last 24h +0.176%

Price spread now: KuCoin against Coinbase International−0.020%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on KuCoin

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

Funding pays, the price is against you. KuCoin is 0.020% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.020% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 4 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000BONK-PERP-INTX	0.000003437	−0.0336	get 0.0042% / 1h	21m 50s	$44K	$27K	50x
Short	KuCoin 1000BONKUSDTM	0.000003436	0.0100	get 0.0050% / 4h	2h 21m	$2.7M	$9.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Coinbase International. 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 Coinbase InternationalbpFee KuCoinbpOrdersPrice spread, now −0.020%Rate

Funding earned: $91.56
Price spread: −0.020% → 0.000%: −$2.04
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $67.52
Costs to cover: 0.220%
Break-even: 1.8 days

Slippage unknown: Coinbase International: no order-book sample; KuCoin: live order book, 1 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 1 min ago	1.46 bp	24.0 bp −$24	108.7 bp −$1,087	doesn't fit	doesn't fit

Coinbase International: 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-INTXlong	−0.0336%	1h	0.000003437	long leg	$44K	$27K	50x
Orderly PERP_1000BONK_USDC	−0.0005%	4h	0.000003440	+0.087%	$29K	$58K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003444	+0.215%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003440	+0.090%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.743%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0041%	1h	0.000003441	+0.116%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003442	+0.144%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003440	+0.087%	$232K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003442	+0.145%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003440	+0.094%	$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	0.000003446	+0.262%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003439	+0.062%	$16.1M	$56.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003438	+0.029%	$10.9M	$17.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003441	+0.116%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003436	−0.029%	$760K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003438	+0.029%	$9.5M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTMshort	+0.0100%	4h	0.000003436	−0.020%	$2.7M	$9.9M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003434	−0.087%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003438	+0.029%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003458	+0.609%	$315K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003448	+0.320%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003446	+0.262%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003437	0.000%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003450	+0.378%	$98K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003432	−0.157%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003438	+0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.715%	$575	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0373%	1h	0.000003438	+0.029%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0992%	1h	0.000003444	+0.204%	$10.2M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2046%	1h	0.000003444	+0.195%	$215K	$165K	50x	as long as short