Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against OKX−0.560%7-day average — · you buy dearer than you sell

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

Long on OKX 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.560% cheaper against OKX than usual: you would sell low and buy high (−$56 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003501	0.0100	pay 0.0100% / 8h	3h 52m	$2.6M	$9.5M	20x
Short	dYdX BONK-USD	0.000003481	0	get 0.0000% / 1h	52m 17s	$13K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against OKX. 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 OKXbpFee dYdXbpOrdersPrice spread, now −0.560%Rate

Funding earned: −$21
Price spread: −0.560% → 0.000%: −$55.96
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$96.96
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 6 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 OKX live order book, 6 min ago	1.44 bp	19.6 bp −$20	75.8 bp −$758	doesn't fit	doesn't fit
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 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	−0.0312%	1h	0.000003486	−0.428%	$43K	$37K	50x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003481	−0.560%	$13K	$3K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003496	−0.140%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.484%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0077%	4h	0.000003490	−0.314%	$986K	$16.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0080%	4h	0.000003498	−0.086%	$30K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003495	−0.173%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003500	−0.029%	$228K	$671K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003492	−0.254%	$81K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003487	−0.400%	$116K	$108K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003498	−0.073%	$16.9M	$60.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003500	−0.040%	$11.4M	$19.2M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003501	long leg	$2.6M	$9.5M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003494	−0.200%	$863K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003495	−0.171%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003494	−0.214%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003499	−0.057%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003495	−0.171%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003473	−0.803%	$316K	$134K	—	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003496	−0.129%	$36K	$103K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003503	+0.057%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003499	−0.057%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003491	−0.286%	$99K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003500	−0.028%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003500	−0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−14.310%	$583	—	100x	as long as short
ApeX Omni 1000BONKUSDT	+0.0206%	1h	0.000003480	−0.600%	$59K	$704K	25x	as long as short
Hyperliquid kBONK	+0.0723%	1h	0.000003501	0.000%	$10.3M	$4.9M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0894%	1h	0.000003502	+0.029%	$6K	$123K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1085%	1h	0.000003498	−0.086%	$32K	$8K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2394%	1h	0.000003508	+0.193%	$224K	$178K	50x	as long as short