Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.2048%/8h= +224.2% APRpaid last 24h −0.004%

Price spread now: dYdX against MEXC−0.053%47s7-day average — · you buy dearer than you sell

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

Long on MEXC 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

Funding pays, the price is against you. dYdX is 0.053% cheaper against MEXC than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2 hours of funding at the current rate (+$61 a day). 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	MEXC 1000BONK_USDT	0.000003398	0.0100	pay 0.0050% / 4h	1h 28m	$10.6M	$10.8M	125x
Short	dYdX BONK-USD	0.000003396	0.2148	get 0.0268% / 1h	28m 49s	$13K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against MEXC. 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 MEXCbpFee dYdXbpOrdersPrice spread, now −0.053%Rate

Funding earned: $430
Price spread: −0.053% → 0.000%: −$5.34
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: $414.65
Costs to cover: 0.100%
Break-even: 0.2 days

Slippage unknown: MEXC: live order book, 2 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 MEXC live order book, 2 min ago	1.47 bp	3.2 bp −$3	9.9 bp −$99	67.7 bp −$6,774	134.7 bp −$67.4K
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 exchanges

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	−0.0056%	1h	0.000003410	+0.353%	$44K	$89K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003384	−0.412%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.649%	$3K	$57	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0044%	1h	0.000003399	+0.029%	$23K	$162K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003395	−0.083%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003402	+0.118%	$242K	$746K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003397	−0.015%	$64K	$134K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003402	+0.107%	$47K	$226K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003398	0.000%	$113K	$153K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003398	+0.010%	$17.2M	$90.3M	75x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003396	−0.053%	$11.8M	$26.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003395	−0.088%	$3.0M	$14.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003397	−0.029%	$899K	$3.3M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003398	long leg	$10.6M	$10.8M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003398	+0.003%	$2.8M	$10.6M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003397	−0.029%	$4.3M	$5.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003398	0.000%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003393	−0.156%	$321K	$136K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003394	−0.118%	$57K	$693K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003398	0.000%	$29K	$46K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003405	+0.206%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003399	+0.029%	$2K	$9K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003402	+0.118%	$97K	$138K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003395	−0.077%	$21K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003396	−0.059%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0144%	4h	0.000003402	+0.118%	$1.1M	$19.7M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−11.713%	$375	—	100x	as long as short
Hyperliquid kBONK	+0.0390%	1h	0.000003401	+0.088%	$11.6M	$8.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1328%	1h	0.000003404	+0.177%	$53K	$25K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1670%	1h	0.000003403	+0.154%	$173K	$254K	50x	as long as short
dYdX BONK-USDshort	+0.2148%	1h	0.000003396	−0.053%	$13K	$12K	10x