Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0145%/8h= +15.9% APRpaid last 24h +0.147%

Price spread now: Bitget against Deribit+0.296%7-day average — · 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−$47as in the Price arb table

costs, in and out, $10k−$770.766% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 6 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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bitget is 0.296% dearer against Deribit than usual: you sell high and buy low: +$30 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003384	−0.0045	get 0.0006% / 1h	48m 36s	$2K	$110K	10x
Short	Bitget 1000BONKUSDT	0.000003394	0.0100	get 0.0050% / 4h	2h 48m	$4.3M	$3.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.296%Rate

Funding earned: $30.54
Price spread: +0.296% → 0.000%: $29.55
Slippage, 4 orders: −$57.62
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$16.53
Costs to cover: 0.766%
Break-even: 10.8 days

Slippage from Deribit: live order book, 5 min ago; Bitget: live order book, 4 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, 5 min ago	8.87 bp	21.2 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	5.91 bp	20.4 bp −$20	37.3 bp −$373	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	−0.0320%	1h	0.000003381	−0.089%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003380	−0.118%	$1.0M	$13.2M	75x	as long as short
Deribit 1000BONK_USDC-PERPETUALlong	−0.0045%	1h	0.000003384	long leg	$2K	$110K	10x
Orderly PERP_1000BONK_USDC	−0.0033%	4h	0.000003382	−0.059%	$29K	$42K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003383	−0.024%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003392	+0.236%	$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
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003383	−0.027%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003388	+0.118%	$202K	$282K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003386	+0.050%	$67K	$252K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003390	+0.177%	$117K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003395	+0.315%	$15.3M	$49.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003396	+0.355%	$10.3M	$16.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003389	+0.148%	$2.5M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003391	+0.207%	$748K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003396	+0.355%	$9.9M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003384	−0.006%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDTshort	+0.0100%	4h	0.000003394	+0.296%	$4.3M	$3.0M	75x
BingX 1000BONK-USDC	+0.0100%	4h	0.000003391	+0.207%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003385	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003379	−0.162%	$304K	$105K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003380	−0.118%	$57K	$693K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003387	+0.103%	$20K	$104K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003388	+0.118%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003384	0.000%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003397	+0.384%	$80K	$117K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003390	+0.184%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003381	−0.089%	$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
Hyperliquid kBONK	+0.0733%	1h	0.000003394	+0.296%	$10.1M	$6.9M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1134%	1h	0.000003389	+0.148%	$206K	$184K	50x	as long as short