Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.020%

Price spread now: Binance against dYdX−0.034%49s7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Binance

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. Binance is 0.034% cheaper against dYdX than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$3 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BONK-USD	0.000003358	0	get 0.0000% / 1h	29m 50s	$12K	$3K	10x
Short	Binance 1000BONKUSDT	0.000003357	0.0100	get 0.0050% / 4h	2h 29m	$15.1M	$49.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.034%Rate

Funding earned: $21
Price spread: −0.034% → 0.000%: −$3.41
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$2.41
Costs to cover: 0.200%
Break-even: 7.8 days

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 12 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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	1.48 bp	13.3 bp −$13	24.4 bp −$244	103.5 bp −$10.4K	doesn't fit

dYdX: 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 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	0.000003356	−0.056%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003359	+0.034%	$1.0M	$13.1M	75x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0048%	1h	0.000003357	−0.026%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDC	−0.0041%	4h	0.000003357	−0.026%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003358	−0.005%	$1K	—	150x	as long as short
dYdX BONK-USDlong	0.0000%	1h	0.000003358	long leg	$12K	$3K	10x
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.498%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003358	+0.015%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003358	+0.004%	$198K	$289K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003358	+0.019%	$20K	$104K	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	0.000003358	+0.004%	$64K	$252K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003361	+0.093%	$116K	$116K	10x	as long as short
Binance 1000BONKUSDTshort	+0.0100%	4h	0.000003357	−0.034%	$15.1M	$49.9M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003355	−0.076%	$10.2M	$16.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003356	−0.056%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003355	−0.085%	$736K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003352	−0.175%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003355	−0.094%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003354	−0.115%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003358	+0.004%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003358	+0.004%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003353	−0.135%	$302K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003359	+0.034%	$57K	$693K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003361	+0.093%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003356	−0.056%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003357	−0.026%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003354	−0.113%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003356	−0.056%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.658%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0721%	1h	0.000003362	+0.123%	$9.9M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1143%	1h	0.000003362	+0.122%	$204K	$159K	50x	as long as short