Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.002%

Price spread now: Bitget against Reya+0.607%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bitget is 0.607% dearer against Reya than usual: you sell high and buy low: +$61 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya kBONKRUSDPERP	0.000003564	0.0083	pay 0.0010% / 1h	7m 48s	$4	—	15x
Short	Bitget 1000BONKUSDT	0.000003586	0.0100	get 0.0050% / 4h	3h 07m	$4.6M	$3.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Reya. 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 ReyabpFee BitgetbpOrdersPrice spread, now +0.607%Rate

Funding earned: $3.6
Price spread: +0.607% → 0.000%: $60.66
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: $46.26
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Bitget: live order book, 5 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	5.57 bp	16.2 bp −$16	48.9 bp −$489	doesn't fit	doesn't fit

Reya: 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	0.000003569	+0.130%	$45K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003565	+0.029%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003564	−0.022%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.147%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0067%	4h	0.000003558	−0.179%	$1.0M	$17.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0080%	4h	0.000003567	+0.074%	$31K	$54K	20x	as long as short
Reya kBONKRUSDPERPlong	+0.0083%	1h	0.000003564	long leg	$4	—	15x
Nado kBONK-PERP	+0.0100%	1h	0.000003566	+0.060%	$43K	$111K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003577	+0.354%	$75K	$279K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003566	+0.046%	$122K	$113K	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	0.000003576	+0.330%	$18.0M	$66.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003587	+0.632%	$11.8M	$20.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003589	+0.691%	$2.7M	$10.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003568	+0.102%	$924K	$2.9M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003571	+0.186%	$9.9M	$7.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003565	+0.029%	$3.0M	$10.1M	75x	as long as short
Bitget 1000BONKUSDTshort	+0.0100%	4h	0.000003586	+0.607%	$4.6M	$3.5M	75x
BingX 1000BONK-USDT	+0.0100%	4h	0.000003588	+0.663%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003590	+0.714%	$333K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003577	+0.354%	$60K	$707K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003573	+0.242%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003565	+0.017%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003569	+0.130%	$101K	$127K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003568	+0.089%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003566	+0.046%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.834%	$393	—	100x	as long as short
Lighter 1000BONK	+0.0216%	1h	0.000003591	+0.747%	$250K	$698K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0872%	1h	0.000003569	+0.130%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.1029%	1h	0.000003597	+0.915%	$11.8M	$5.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1537%	1h	0.000003572	+0.214%	$49K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2353%	1h	0.000003568	+0.114%	$229K	$195K	50x	as long as short