Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0859%/8h= −94.0% APRpaid last 24h −0.018%

Price spread now: Aster against Kraken Futures−0.270%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1401.396% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.446%−$45 on $10k

Price spread, last 3 days (all we have)+0.232%+$23 · spread now −0.270%, 7d avg −0.091%

Together, before fees−0.214%+ Points / potential airdropAster: Stage 5 · farm board−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Aster is 0.179% cheaper against Kraken Futures than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.091%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.446% in total (about -23.3% 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	Kraken Futures PF_BONKUSD	0.000003378	0.0959	pay 0.0120% / 1h	35m 00s	$205K	$149K	50x
Short	Aster 1000BONKUSDT	0.000003369	0.0100	get 0.0050% / 4h	1h 35m	$65K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.270%Rate

Funding earned: −$180.36
Price spread: −0.270% → −0.091%: −$17.91
Slippage, 4 orders: −$121.57
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$337.84
Costs to cover: 1.396%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 47 min ago; Aster: live order book, 47 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 Kraken Futures live order book, 47 min ago	20.70 bp	34.6 bp −$35	125.2 bp −$1,252	doesn't fit	doesn't fit
Sell Aster live order book, 47 min ago	10.38 bp	24.7 bp −$25	184.1 bp −$1,841	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	0.000003358	−0.600%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003368	−0.304%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0075%	4h	0.000003371	−0.215%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0046%	1h	0.000003371	−0.215%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003371	−0.200%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003370	−0.245%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.086%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003372	−0.181%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003372	−0.185%	$196K	$294K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003371	−0.215%	$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 1000BONKUSDTshort	+0.0100%	4h	0.000003369	−0.270%	$65K	$251K	10x
Pacifica kBONK	+0.0100%	1h	0.000003370	−0.245%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003368	−0.294%	$15.2M	$51.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003367	−0.342%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003365	−0.393%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003368	−0.304%	$749K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003370	−0.245%	$10.1M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003368	−0.304%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003364	−0.422%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003368	−0.304%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003370	−0.245%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003374	−0.123%	$313K	$112K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003385	+0.200%	$57K	$698K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003376	−0.067%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003370	−0.245%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003364	−0.423%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003370	−0.245%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0145%	4h	0.000003380	+0.052%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.197%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0924%	1h	0.000003375	−0.096%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.0959%	1h	0.000003378	long leg	$205K	$149K	50x