Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0326%/8h= +35.7% APRpaid last 24h +0.151%

Price spread now: HTX against Deribit+0.835%7-day average +0.167% · 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−$76as in the Price arb table

costs, in and out, $10k−$1431.433% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.558%+$56 on $10k

Price spread, last 3 days (all we have)−0.802%−$80 · spread now +0.835%, 7d avg +0.167%

Together, before fees−0.244%−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and HTX is 0.669% dearer against Deribit than usual: you sell high and buy low: +$67 more if the spread goes back to its 7-day average of +0.167%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003352	0	get 0.0000% / 1h	9m 34s	$2K	$110K	10x
Short	HTX BONK-USDT	0.000003380	0.0326	get 0.0163% / 4h	2h 09m	$78K	$123K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.835%Rate

Funding earned: $68.44
Price spread: +0.835% → +0.167%: $66.88
Slippage, 4 orders: −$124.34
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$8.02
Costs to cover: 1.433%
Break-even: 7.8 days

Slippage from Deribit: live order book, 44 min ago; HTX: live order book, 11 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, 44 min ago	8.87 bp	21.2 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 11 min ago	29.53 bp	38.9 bp −$39	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	−0.0320%	1h	0.000003344	−0.239%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003343	−0.268%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0046%	4h	0.000003350	−0.060%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003349	−0.101%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003348	−0.124%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUALlong	0.0000%	1h	0.000003352	long leg	$2K	$110K	10x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.327%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003346	−0.165%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003348	−0.119%	$197K	$290K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003346	−0.164%	$19K	$108K	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	0.000003350	−0.072%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003350	−0.060%	$114K	$120K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003349	−0.093%	$15.0M	$51.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003347	−0.152%	$10.1M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003349	−0.089%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003346	−0.179%	$739K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003342	−0.298%	$10.0M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003348	−0.110%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003347	−0.149%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003347	−0.149%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003353	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003341	−0.316%	$301K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003342	−0.298%	$57K	$696K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003353	+0.030%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003351	−0.030%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003346	−0.172%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003347	−0.149%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.501%	$559	—	100x	as long as short
HTX BONK-USDTshort	+0.0326%	4h	0.000003380	+0.835%	$78K	$123K	30x
Hyperliquid kBONK	+0.0737%	1h	0.000003354	+0.060%	$9.9M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1145%	1h	0.000003355	+0.089%	$204K	$148K	50x	as long as short