Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0786%/8h= +86.1% APRpaid last 24h −0.049%

Price spread now: Deribit against KuCoin+0.114%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$860.863% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.511%−$51 on $10k

Price spread, last 4 days (all we have)−0.872%−$87 · spread now +0.114%, 7d avg −0.050%

Together, before fees−1.383%−$138 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Deribit is 0.164% dearer against KuCoin than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.050%. Mind the row above: over the last 6 days funding on this pair cost −0.511%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003520	0.0100	pay 0.0050% / 4h	3h 00m	$2.9M	$11.0M	75x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003524	0.0886	get 0.0111% / 1h	0m 51s	$24K	$162K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.114%Rate

Funding earned: $165.14
Price spread: +0.114% → −0.050%: $16.38
Slippage, 4 orders: −$67.3
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $95.21
Costs to cover: 0.863%
Break-even: 3.0 days

Slippage from KuCoin: live order book, 8 min ago; Deribit: live order book, 63 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	1.43 bp	28.5 bp −$28	396.7 bp −$3,967	doesn't fit	doesn't fit
Sell Deribit live order book, 63 min ago	8.52 bp	12.0 bp −$12	doesn't fit	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	−0.0024%	1h	0.000003500	−0.568%	$46K	$94K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003503	−0.480%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.989%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003520	−0.004%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003519	−0.028%	$65K	$142K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003519	−0.035%	$48K	$291K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003519	−0.028%	$117K	$161K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003517	−0.085%	$18.1M	$91.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003513	−0.199%	$12.5M	$27.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003518	−0.057%	$3.1M	$15.3M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BONK_USDT	+0.0100%	4h	0.000003519	−0.028%	$932K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003515	−0.142%	$11.4M	$10.8M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003520	long leg	$2.9M	$11.0M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003514	−0.170%	$4.5M	$5.5M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003517	−0.085%	—	$5.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003517	−0.090%	$343K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003488	−0.909%	$59K	$697K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003520	0.000%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003528	+0.227%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003523	+0.085%	$3K	$8K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003524	+0.114%	$101K	$136K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003519	−0.042%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003520	0.000%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0114%	4h	0.000003523	+0.085%	$1.1M	$20.2M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.773%	$538	—	100x	as long as short
Lighter 1000BONK	+0.0216%	1h	0.000003520	0.000%	$247K	$776K	10x	as long as short
dYdX BONK-USD	+0.0577%	1h	0.000003499	−0.584%	$13K	$10K	10x	as long as short
Hyperliquid kBONK	+0.0590%	1h	0.000003524	+0.114%	$12.0M	$8.5M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0886%	1h	0.000003524	+0.114%	$24K	$162K	10x
Backpack kBONK_USDC_PERP	+0.1633%	1h	0.000003527	+0.199%	$54K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2945%	1h	0.000003526	+0.158%	$179K	$272K	50x	as long as short