Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: OKX against dYdX+0.448%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 OKX

What this pair did over the last

the charts below follow

Funding, last 6 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 OKX is 0.448% dearer against dYdX than usual: you sell high and buy low: +$45 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	0.000003481	0	get 0.0000% / 1h	52m 08s	$13K	$3K	10x
Short	OKX BONK-USDT-SWAP	0.000003497	0.0100	get 0.0100% / 8h	3h 52m	$2.6M	$9.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.448%Rate

Funding earned: $21
Price spread: +0.448% → 0.000%: $44.79
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $45.79
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; OKX: 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 OKX live order book, 1 min ago	1.43 bp	14.1 bp −$14	59.9 bp −$599	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	−0.0312%	1h	0.000003486	+0.132%	$43K	$37K	50x	as long as short
dYdX BONK-USDlong	0.0000%	1h	0.000003481	long leg	$13K	$3K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003496	+0.422%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.958%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0077%	4h	0.000003490	+0.247%	$986K	$16.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0080%	4h	0.000003498	+0.477%	$30K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003495	+0.388%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003500	+0.534%	$228K	$671K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003504	+0.645%	$81K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003487	+0.161%	$116K	$108K	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	0.000003499	+0.502%	$16.9M	$61.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003493	+0.336%	$11.4M	$19.2M	50x	as long as short
OKX BONK-USDT-SWAPshort	+0.0100%	8h	0.000003497	+0.448%	$2.6M	$9.5M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003499	+0.505%	$864K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003503	+0.620%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003495	+0.402%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003500	+0.534%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003500	+0.534%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003473	−0.245%	$316K	$134K	—	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003496	+0.433%	$36K	$103K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003503	+0.620%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003499	+0.505%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003491	+0.276%	$99K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003500	+0.535%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003500	+0.534%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.828%	$583	—	100x	as long as short
ApeX Omni 1000BONKUSDT	+0.0206%	1h	0.000003480	−0.040%	$59K	$704K	25x	as long as short
Hyperliquid kBONK	+0.0735%	1h	0.000003506	+0.706%	$10.3M	$4.9M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0894%	1h	0.000003502	+0.591%	$6K	$123K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1088%	1h	0.000003505	+0.678%	$32K	$8K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2394%	1h	0.000003508	+0.757%	$224K	$178K	50x	as long as short