Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against HTX−0.129%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on HTX Short on dYdX

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 against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.129% cheaper against HTX than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BONK-USDT	0.000003555	0.0100	pay 0.0050% / 4h	2h 17m	$101K	$130K	30x
Short	dYdX BONK-USD	0.000003550	0	get 0.0000% / 1h	17m 59s	$13K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$21
Price spread: −0.129% → 0.000%: −$12.95
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$55.95
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 28 min ago; dYdX: no order-book sample. 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 HTX live order book, 28 min ago	66.56 bp	342.3 bp −$342	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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	−0.0136%	1h	0.000003546	−0.253%	$44K	$48K	50x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003550	−0.129%	$13K	$3K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003550	−0.132%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.904%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003555	+0.012%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0099%	4h	0.000003553	−0.056%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003556	+0.028%	$43K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003553	−0.056%	$59K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003551	−0.113%	$120K	$125K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003551	−0.113%	$18.3M	$71.9M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003558	+0.073%	$11.8M	$22.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003556	+0.028%	$2.8M	$11.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003548	−0.197%	$918K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003549	−0.169%	$10.5M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003548	−0.200%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003546	−0.253%	$4.5M	$4.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003548	−0.197%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003509	−1.297%	$327K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003490	−1.828%	$59K	$703K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003562	+0.197%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003552	−0.084%	$2K	$7K	10x	as long as short
HTX BONK-USDTlong	+0.0100%	4h	0.000003555	long leg	$101K	$130K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003548	−0.208%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003549	−0.169%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0147%	4h	0.000003548	−0.197%	$1.1M	$18.1M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.612%	$391	—	100x	as long as short
Lighter 1000BONK	+0.0208%	1h	0.000003556	+0.028%	$249K	$723K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0595%	1h	0.000003553	−0.056%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1547%	1h	0.000003553	−0.056%	$11.8M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1622%	1h	0.000003554	−0.028%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2610%	1h	0.000003563	+0.231%	$219K	$218K	50x	as long as short