Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bitget against KuCoin−0.132%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$860.859% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 7 days+0.182%+$18 · spread now −0.132%, 7d avg −0.033%

Together, before fees+0.216%+$22 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: Bitget is 0.099% cheaper against KuCoin than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003485	0.0100	pay 0.0050% / 4h	2h 55m	$3.0M	$10.2M	75x
Short	Bitget 1000BONKUSDT	0.000003480	0.0100	get 0.0050% / 4h	2h 55m	$4.4M	$3.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against KuCoin. 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 KuCoinbpFee BitgetbpOrdersPrice spread, now −0.132%Rate

Funding earned: $0
Price spread: −0.132% → −0.033%: −$9.9
Slippage, 4 orders: −$61.88
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$95.79
Costs to cover: 0.859%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Bitget: live order book, 3 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 KuCoin live order book, 8 min ago	1.41 bp	28.9 bp −$29	441.3 bp −$4,413	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.28 bp	15.1 bp −$15	43.0 bp −$430	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	−0.0136%	1h	0.000003494	+0.270%	$43K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003481	−0.095%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003484	−0.014%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.044%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0035%	1h	0.000003504	+0.557%	$9K	$133K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003483	−0.048%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0083%	4h	0.000003504	+0.557%	$30K	$53K	20x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003494	+0.278%	$58K	$299K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003486	+0.040%	$116K	$120K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003483	−0.052%	$17.7M	$69.5M	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	0.000003486	+0.046%	$11.5M	$21.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003484	−0.017%	$2.7M	$11.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003485	+0.011%	$909K	$3.0M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003487	+0.069%	$9.7M	$8.0M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003485	long leg	$3.0M	$10.2M	75x
Bitget 1000BONKUSDTshort	+0.0100%	4h	0.000003480	−0.132%	$4.4M	$3.7M	75x
BingX 1000BONK-USDC	+0.0100%	4h	0.000003487	+0.069%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003504	+0.553%	$325K	$141K	—	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003485	+0.026%	$42K	$114K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003511	+0.758%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003507	+0.643%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003501	+0.471%	$99K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003483	−0.059%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003502	+0.499%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0120%	1h	0.000003488	+0.098%	$246K	$703K	10x	as long as short
BloFin 1000BONK-USDT	+0.0154%	4h	0.000003517	+0.930%	$1.1M	$17.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−13.907%	$384	—	100x	as long as short
ApeX Omni 1000BONKUSDT	+0.1592%	1h	0.000003512	+0.786%	$59K	$705K	25x	as long as short
Hyperliquid kBONK	+0.1647%	1h	0.000003492	+0.212%	$11.5M	$6.1M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.2043%	1h	0.000003510	+0.729%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2648%	1h	0.000003512	+0.775%	$215K	$211K	50x	as long as short