Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: KuCoin against dYdX−0.111%7-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 KuCoin

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. KuCoin is 0.111% cheaper against dYdX than usual: you would sell low and buy high (spread −0.111% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BONK-USD	0.000003381	0	get 0.0000% / 1h	33m 40s	$12K	$3K	10x
Short	KuCoin 1000BONKUSDTM	0.000003378	0.0100	get 0.0050% / 4h	3h 33m	$2.7M	$9.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.111%Rate

Funding earned: $21
Price spread: −0.111% → 0.000%: −$11.12
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$12.12
Costs to cover: 0.220%
Break-even: 11.0 days

Slippage unknown: dYdX: no order-book sample; KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	1.47 bp	24.7 bp −$25	121.6 bp −$1,216	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	−0.0376%	1h	0.000003383	+0.046%	$43K	$24K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003390	+0.253%	$1.0M	$14.4M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0055%	4h	0.000003380	−0.043%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003381	−0.017%	$1K	—	150x	as long as short
dYdX BONK-USDlong	0.0000%	1h	0.000003381	long leg	$12K	$3K	10x
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003380	−0.043%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.178%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003378	−0.102%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003378	−0.088%	$16K	$105K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003381	−0.017%	$65K	$262K	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	0.000003379	−0.073%	$113K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003379	−0.073%	$15.4M	$53.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003380	−0.055%	$10.5M	$17.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003380	−0.043%	$2.4M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003378	−0.102%	$725K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003378	−0.102%	$9.9M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTMshort	+0.0100%	4h	0.000003378	−0.111%	$2.7M	$9.8M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003374	−0.221%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003377	−0.132%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003396	+0.429%	$305K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003394	+0.371%	$57K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003385	+0.105%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003381	−0.014%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003390	+0.253%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003374	−0.211%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003380	−0.043%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.281%	$566	—	100x	as long as short
Lighter 1000BONK	+0.0288%	1h	0.000003384	+0.075%	$311K	$420K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0300%	1h	0.000003381	−0.014%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0633%	1h	0.000003385	+0.105%	$10.0M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1470%	1h	0.000003389	+0.210%	$207K	$156K	50x	as long as short