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 +0.024%

Price spread now: Bybit against dYdX+0.034%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Bybit

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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.034% dearer against dYdX than usual: you sell high and buy low: +$3 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	dYdX BONK-USD	0.000003358	0	get 0.0000% / 1h	32m 40s	$12K	$3K	10x
Short	Bybit 1000BONKUSDT	0.000003359	0.0100	get 0.0050% / 4h	2h 32m	$10.2M	$16.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.034%Rate

Funding earned: $21
Price spread: +0.034% → 0.000%: $3.38
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $3.38
Costs to cover: 0.210%
Break-even: 5.9 days

Slippage unknown: dYdX: no order-book sample; Bybit: live order book, 1 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 Bybit live order book, 1 min ago	1.49 bp	19.7 bp −$20	35.2 bp −$352	189.1 bp −$18.9K	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
Deribit 1000BONK_USDC-PERPETUAL	−0.0643%	1h	0.000003355	−0.085%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003350	−0.234%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003356	−0.056%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0041%	4h	0.000003355	−0.085%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003357	−0.038%	$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	0.000003355	−0.074%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003361	+0.093%	$198K	$288K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003355	−0.070%	$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	0.000003359	+0.035%	$66K	$252K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003360	+0.064%	$115K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003360	+0.071%	$15.2M	$49.8M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003359	+0.034%	$10.2M	$16.2M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003361	+0.093%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003359	+0.034%	$739K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003359	+0.034%	$9.8M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003360	+0.064%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.026%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003360	+0.064%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003355	−0.085%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003371	+0.403%	$303K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003377	+0.570%	$57K	$693K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003360	+0.064%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003355	−0.085%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003372	+0.421%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003361	+0.097%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003355	−0.085%	$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	0.000003366	+0.242%	$9.9M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1142%	1h	0.000003363	+0.161%	$204K	$159K	50x	as long as short