Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: Reya against HTX−0.135%47s7-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 Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Reya is 0.135% cheaper against HTX than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 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	0.000003380	0.0100	pay 0.0050% / 4h	2h 24m	$79K	$118K	30x
Short	Reya kBONKRUSDPERP	0.000003375	0.0083	get 0.0010% / 1h	24m 21s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.135%Rate

Funding earned: −$3.6
Price spread: −0.135% → 0.000%: −$13.54
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$35.14
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 61 min ago; Reya: 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, 61 min ago	48.64 bp	75.2 bp −$75	doesn't fit	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0320%	1h	0.000003376	−0.118%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003383	+0.089%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0042%	4h	0.000003375	−0.148%	$29K	$41K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003380	−0.002%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003375	−0.148%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003378	−0.071%	$2K	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.136%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003375	−0.135%	$4	—	15x
Lighter 1000BONK	+0.0096%	1h	0.000003382	+0.059%	$200K	$290K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003376	−0.133%	$20K	$109K	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	0.000003382	+0.049%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003381	+0.030%	$115K	$117K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003374	−0.191%	$15.3M	$50.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003373	−0.219%	$10.2M	$16.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003378	−0.059%	$2.5M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003373	−0.207%	$742K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003372	−0.237%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003378	−0.059%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003373	−0.207%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003375	−0.148%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003378	−0.059%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003417	+1.091%	$305K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003394	+0.414%	$57K	$693K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003383	+0.089%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003376	−0.118%	$2K	$6K	10x	as long as short
HTX BONK-USDTlong	+0.0100%	4h	0.000003380	long leg	$79K	$118K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003377	−0.084%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003375	−0.148%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.243%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0726%	1h	0.000003382	+0.059%	$10.0M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1136%	1h	0.000003382	+0.051%	$205K	$149K	50x	as long as short