Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0054%/8h= +6.0% APRpaid last 24h +0.130%

Price spread now: Aster against Deribit−0.046%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$810.813% of the position

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.513%+$51 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now −0.046%, 7d avg +0.035%

Together, before fees+0.635%+ Points / potential airdropAster: Stage 5 · farm board+$64 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.081% cheaper against Deribit than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of +0.035%). If the spread goes back, that is −$8 on $10k: about 5.0 days of funding at the current rate (+$2 a day). At the pace of the last 6 days (+0.513% in total) that is about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003384	0.0046	pay 0.0006% / 1h	18m 30s	$2K	$110K	10x
Short	Aster 1000BONKUSDT	0.000003382	0.0100	get 0.0050% / 4h	3h 18m	$65K	$262K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now −0.046%Rate

Funding earned: $11.42
Price spread: −0.046% → +0.035%: −$8.08
Slippage, 4 orders: −$66.35
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$78
Costs to cover: 0.813%
Break-even: 54.8 days

Slippage from Deribit: live order book, 20 min ago; Aster: live order book, 53 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 Deribit live order book, 20 min ago	10.31 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 53 min ago	7.47 bp	19.0 bp −$19	doesn't fit	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
Coinbase International 1000BONK-PERP-INTX	−0.0376%	1h	0.000003382	−0.059%	$44K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003374	−0.296%	$1.0M	$14.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0045%	4h	0.000003387	+0.089%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003388	+0.127%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003371	−0.375%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.251%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUALlong	+0.0046%	1h	0.000003384	long leg	$2K	$110K	10x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003379	−0.148%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003377	−0.192%	$18K	$101K	10x	as long as short
Aster 1000BONKUSDTshort	+0.0100%	4h	0.000003382	−0.046%	$65K	$262K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003374	−0.296%	$114K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003373	−0.311%	$15.4M	$52.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003372	−0.361%	$10.5M	$17.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003378	−0.177%	$2.5M	$7.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003374	−0.296%	$728K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003371	−0.384%	$9.9M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003374	−0.296%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003373	−0.325%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003373	−0.325%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003384	−0.002%	$304K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003385	+0.030%	$57K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003389	+0.148%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003374	−0.296%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003390	+0.177%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003372	−0.346%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003388	+0.118%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.348%	$566	—	100x	as long as short
Lighter 1000BONK	+0.0312%	1h	0.000003380	−0.118%	$320K	$441K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0325%	1h	0.000003380	−0.118%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0614%	1h	0.000003385	+0.030%	$9.6M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1473%	1h	0.000003382	−0.067%	$211K	$165K	50x	as long as short