Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0221%/8h= +24.2% APRpaid last 24h +0.002%

Price spread now: Backpack against SunX0.000%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BONK-USDT	0.000003391	0.0100	pay 0.0050% / 4h	3h 20m	$2K	$12K	20x
Short	Backpack kBONK_USDC_PERP	0.000003391	0.0321	get 0.0040% / 1h	20m 01s	$30K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: $46.34
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $28.34
Costs to cover: 0.180%
Break-even: 2.7 days

Slippage unknown: SunX: no order-book sample; Backpack: 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 SunX no order-book sample	—	—	—	—	—
Sell Backpack no order-book sample	—	—	—	—	—

SunX and Backpack: 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	−0.0376%	1h	0.000003382	−0.265%	$44K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003382	−0.265%	$1.0M	$14.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0047%	4h	0.000003390	−0.029%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003389	−0.050%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003387	−0.105%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.450%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0045%	1h	0.000003390	−0.029%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003387	−0.118%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003391	0.000%	$65K	$262K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003388	−0.088%	$112K	$120K	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	0.000003390	−0.025%	$15.4M	$53.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003392	+0.021%	$10.6M	$17.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003392	+0.029%	$2.5M	$7.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003389	−0.059%	$732K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003391	0.000%	$10.0M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003391	−0.003%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003388	−0.088%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003390	−0.029%	—	$7.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003384	−0.208%	$304K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003380	−0.324%	$57K	$707K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003387	−0.103%	$18K	$101K	10x	as long as short
SunX BONK-USDTlong	+0.0100%	4h	0.000003391	long leg	$2K	$12K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003390	−0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003391	0.000%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003390	−0.023%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003392	+0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.531%	$566	—	100x	as long as short
Lighter 1000BONK	+0.0320%	1h	0.000003396	+0.147%	$321K	$441K	10x	as long as short
Backpack kBONK_USDC_PERPshort	+0.0321%	1h	0.000003391	0.000%	$30K	$7K	10x
Hyperliquid kBONK	+0.0628%	1h	0.000003395	+0.118%	$9.7M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1468%	1h	0.000003395	+0.110%	$212K	$165K	50x	as long as short