Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0862%/8h= +94.4% APRpaid last 24h +0.024%

Price spread now: Kraken Futures against Gate+0.252%7-day average +0.140% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1261.263% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.442%+$44 on $10k

Price spread, last 3 days (all we have)−0.314%−$31 · spread now +0.252%, 7d avg +0.140%

Together, before fees+0.128%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$26 a day on $10k at the current rate, and Kraken Futures is 0.112% dearer against Gate than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.140%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.442% in total (about 23.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BONK_USDT	0.000003358	0.0100	pay 0.0050% / 4h	1h 33m	$743K	$2.6M	50x
Short	Kraken Futures PF_BONKUSD	0.000003366	0.0962	get 0.0120% / 1h	33m 17s	$205K	$149K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.252%Rate

Funding earned: $181.07
Price spread: +0.252% → +0.140%: $11.19
Slippage, 4 orders: −$101.27
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $65.98
Costs to cover: 1.263%
Break-even: 4.4 days

Slippage from Gate: live order book, 5 min ago; Kraken Futures: live order book, 49 min ago.

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 Gate live order book, 5 min ago	2.96 bp	26.6 bp −$27	101.6 bp −$1,016	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 49 min ago	20.70 bp	39.0 bp −$39	74.9 bp −$749	doesn't fit	doesn't fit

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	−0.0248%	1h	0.000003350	−0.238%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003362	+0.119%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0078%	4h	0.000003359	+0.030%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0047%	1h	0.000003361	+0.089%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003361	+0.104%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003363	+0.136%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.501%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003360	+0.061%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003363	+0.149%	$195K	$295K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003360	+0.074%	$19K	$106K	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	0.000003361	+0.074%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003365	+0.208%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003365	+0.210%	$15.2M	$51.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003364	+0.170%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003360	+0.060%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDTlong	+0.0100%	4h	0.000003358	long leg	$743K	$2.6M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003360	+0.060%	$10.3M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003360	+0.060%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003361	+0.089%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003359	+0.030%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003364	+0.179%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003374	+0.480%	$313K	$112K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003370	+0.357%	$57K	$699K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003366	+0.238%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003360	+0.060%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003359	+0.043%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003359	+0.030%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0130%	4h	0.000003380	+0.655%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.661%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0920%	1h	0.000003370	+0.357%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.0962%	1h	0.000003366	+0.252%	$205K	$149K	50x