Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against HTX+0.681%53s7-day average −0.175% · you sell dearer than you buy

Net, funding: paid 7d − costs−$265as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2582.582% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 3 days (all we have)−0.633%−$63 · spread now +0.681%, 7d avg −0.175%

Together, before fees−0.706%−$71 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.855% dearer against HTX than usual: you sell high and buy low, +$86 on $10k if it goes back to its 7-day average of −0.175%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BONK-USDT	0.000003378	0.0100	pay 0.0050% / 4h	2h 53m	$97K	$161K	30x
Short	Bybit 1000BONKUSDT	0.000003401	0.0100	get 0.0050% / 4h	2h 53m	$10.7M	$17.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against HTX. 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 HTXbpFee BybitbpOrdersPrice spread, now +0.681%Rate

Funding earned: $0
Price spread: +0.681% → −0.175%: $85.55
Slippage, 4 orders: −$235.15
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$172.61
Costs to cover: 2.582%
Break-even: never at this rate

Slippage from HTX: live order book, 13 min ago; Bybit: live order book, 5 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 HTX live order book, 13 min ago	32.09 bp	161.1 bp −$161	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.48 bp	15.5 bp −$16	38.8 bp −$388	293.8 bp −$29.4K	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	−0.0336%	1h	0.000003396	+0.533%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003385	+0.207%	$935K	$14.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0026%	4h	0.000003403	+0.740%	$29K	$49K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003400	+0.661%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003401	+0.669%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.079%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003401	+0.680%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003402	+0.725%	$25K	$113K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003403	+0.740%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003403	+0.740%	$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	0.000003403	+0.740%	$16.0M	$55.1M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003401	+0.681%	$10.7M	$17.5M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003403	+0.740%	$2.5M	$8.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003401	+0.681%	$721K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003403	+0.740%	$9.7M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003402	+0.710%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003400	+0.651%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003401	+0.681%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003378	−0.001%	$307K	$127K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003396	+0.533%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003397	+0.562%	$2K	$6K	10x	as long as short
HTX BONK-USDTlong	+0.0100%	4h	0.000003378	long leg	$97K	$161K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003402	+0.702%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003391	+0.385%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.190%	$569	—	100x	as long as short
Lighter 1000BONK	+0.0296%	1h	0.000003409	+0.918%	$354K	$475K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0407%	1h	0.000003400	+0.651%	$30K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0635%	1h	0.000003393	+0.444%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0810%	1h	0.000003407	+0.858%	$10.0M	$7.5M	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.1068%	1h	0.000003392	+0.414%	$57K	$710K	25x	as long as short
Kraken Futures PF_BONKUSD	+0.2071%	1h	0.000003402	+0.718%	$212K	$165K	50x	as long as short