Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1954%/8h= +213.9% APRpaid last 24h +0.101%

Price spread now: Kraken Futures against MEXC+0.151%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1131.126% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.651%+$65 on $10k

Price spread, last 4 days (all we have)−0.745%−$74 · spread now +0.151%, 7d avg +0.118%

Together, before fees−0.093%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$59 a day on $10k at the current rate, and Kraken Futures is 0.033% dearer against MEXC than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.118%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.651% in total (about 34.0% 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	MEXC 1000BONK_USDT	0.000003378	0.0100	pay 0.0050% / 4h	1h 09m	$9.5M	$7.1M	125x
Short	Kraken Futures PF_BONKUSD	0.000003383	0.2054	get 0.0257% / 1h	9m 02s	$218K	$174K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.151%Rate

Funding earned: $410.3
Price spread: +0.151% → +0.118%: $3.27
Slippage, 4 orders: −$102.61
Fee MEXC: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $300.97
Costs to cover: 1.126%
Break-even: 1.9 days

Slippage from MEXC: live order book, 4 min ago; Kraken Futures: live order book, 53 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 MEXC live order book, 4 min ago	1.48 bp	5.1 bp −$5	13.2 bp −$132	92.0 bp −$9,204	142.9 bp −$71.4K
Sell Kraken Futures live order book, 53 min ago	37.63 bp	44.7 bp −$45	112.5 bp −$1,125	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	−0.0336%	1h	0.000003372	−0.178%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003378	+0.004%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003377	−0.030%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003378	+0.003%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.079%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0063%	4h	0.000003377	−0.030%	$29K	$57K	20x	as long as short
BloFin 1000BONK-USDT	+0.0073%	4h	0.000003381	+0.089%	$955K	$15.0M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003377	−0.019%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003381	+0.089%	$223K	$670K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003379	+0.030%	$27K	$97K	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	0.000003381	+0.076%	$78K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003381	+0.089%	$114K	$104K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003378	0.000%	$16.0M	$57.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003376	−0.059%	$10.7M	$18.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003377	−0.030%	$2.5M	$8.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003377	−0.030%	$839K	$2.7M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003378	long leg	$9.5M	$7.1M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003377	−0.027%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003375	−0.089%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003378	0.000%	—	$4.7M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003379	+0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003386	+0.247%	$307K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003398	+0.592%	$57K	$705K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003384	+0.178%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003377	−0.030%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003383	+0.148%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003378	+0.004%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003378	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.190%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0802%	1h	0.000003384	+0.178%	$10.0M	$4.7M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.2054%	1h	0.000003383	+0.151%	$218K	$174K	50x