Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0444%/8h= +48.7% APRpaid last 24h +0.140%

Price spread now: Binance against Deribit+0.022%7-day average +0.023% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.425%+$43 on $10k

Price spread, last 3 days (all we have)+0.347%+$35 · spread now +0.022%, 7d avg +0.023%

Together, before fees+0.772%+$77 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003362	−0.0344	get 0.0043% / 1h	33m 35s	$2K	$110K	10x
Short	Binance 1000BONKUSDT	0.000003363	0.0100	get 0.0050% / 4h	2h 33m	$15.2M	$49.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.022%Rate

Funding earned: $93.34
Price spread: +0.022% → +0.023%: −$0.13
Slippage, 4 orders: −$40.42
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $35.78
Costs to cover: 0.574%
Break-even: 4.3 days

Slippage from Deribit: live order book, 20 min ago; Binance: live order book, 9 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	8.87 bp	21.2 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	1.48 bp	13.3 bp −$13	24.4 bp −$244	103.5 bp −$10.4K	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-PERPETUALlong	−0.0344%	1h	0.000003362	long leg	$2K	$110K	10x
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003359	−0.089%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003369	+0.208%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0039%	4h	0.000003365	+0.089%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003365	+0.077%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003364	+0.056%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.617%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003362	+0.011%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003365	+0.089%	$198K	$288K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003355	−0.193%	$20K	$103K	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	0.000003368	+0.176%	$67K	$249K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003365	+0.089%	$116K	$116K	10x	as long as short
Binance 1000BONKUSDTshort	+0.0100%	4h	0.000003363	+0.022%	$15.2M	$49.7M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003364	+0.057%	$10.2M	$16.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003362	0.000%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003362	0.000%	$740K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003364	+0.059%	$9.9M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003364	+0.062%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003360	−0.059%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003365	+0.089%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003363	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003371	+0.279%	$303K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003377	+0.446%	$57K	$693K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003376	+0.416%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003363	+0.030%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003370	+0.238%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003361	−0.026%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003365	+0.089%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.767%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0723%	1h	0.000003369	+0.208%	$9.9M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1140%	1h	0.000003369	+0.218%	$205K	$158K	50x	as long as short