Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: HTX against dYdX+0.196%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 HTX

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 HTX is 0.196% dearer against dYdX than usual: you sell high and buy low: +$20 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	0.000003413	0	get 0.0000% / 1h	47m 18s	$12K	$3K	10x
Short	HTX BONK-USDT	0.000003420	0.0100	get 0.0050% / 4h	2h 47m	$97K	$161K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.196%Rate

Funding earned: $21
Price spread: +0.196% → 0.000%: $19.58
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $18.58
Costs to cover: 0.220%
Break-even: 0.8 days

Slippage unknown: dYdX: no order-book sample; HTX: live order book, 19 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 HTX live order book, 19 min ago	32.09 bp	69.0 bp −$69	doesn't fit	doesn't fit	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	−0.0336%	1h	0.000003390	−0.683%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003414	+0.020%	$939K	$14.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0025%	4h	0.000003409	−0.126%	$29K	$49K	20x	as long as short
dYdX BONK-USDlong	0.0000%	1h	0.000003413	long leg	$12K	$3K	10x
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003407	−0.185%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003409	−0.138%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.082%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003410	−0.098%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003412	−0.030%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003414	+0.020%	$113K	$125K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003410	−0.084%	$16.1M	$55.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003410	−0.097%	$10.7M	$17.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003408	−0.156%	$2.5M	$8.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003413	−0.009%	$743K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003409	−0.126%	$9.7M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003413	−0.009%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003406	−0.214%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003409	−0.126%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003404	−0.274%	$310K	$127K	—	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003411	−0.053%	$27K	$114K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003411	−0.068%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003407	−0.185%	$2K	$6K	10x	as long as short
HTX BONK-USDTshort	+0.0100%	4h	0.000003420	+0.196%	$97K	$161K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003405	−0.254%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003406	−0.214%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.109%	$571	—	100x	as long as short
Lighter 1000BONK	+0.0280%	1h	0.000003414	+0.020%	$375K	$498K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0532%	1h	0.000003412	−0.039%	$57K	$712K	25x	as long as short
Backpack kBONK_USDC_PERP	+0.0546%	1h	0.000003417	+0.108%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0913%	1h	0.000003418	+0.137%	$10.1M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2062%	1h	0.000003416	+0.092%	$213K	$165K	50x	as long as short