Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0237%/8h= +26.0% APRpaid last 24h −0.130%

Price spread now: Deribit against SunX−0.117%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Deribit

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

Funding pays, the price is against you. Deribit is 0.117% cheaper against SunX than usual: you would sell low and buy high (spread −0.117% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 40 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BONK-USDT	0.000003413	0.0100	pay 0.0050% / 4h	3h 13m	$2K	$12K	20x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003409	0.0337	get 0.0042% / 1h	13m 23s	$2K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.117%Rate

Funding earned: $49.78
Price spread: −0.117% → 0.000%: −$11.72
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $23.06
Costs to cover: 0.150%
Break-even: 3.8 days

Slippage unknown: SunX: no order-book sample; Deribit: live order book, 26 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 SunX no order-book sample	—	—	—	—	—
Sell Deribit live order book, 26 min ago	10.31 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit

SunX: 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	0.000003371	−1.231%	$43K	$25K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003413	0.000%	$1.0M	$14.5M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0039%	4h	0.000003404	−0.264%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003409	−0.108%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003413	+0.009%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.073%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003410	−0.088%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003410	−0.073%	$18K	$101K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003412	−0.030%	$65K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003413	0.000%	$115K	$122K	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	0.000003409	−0.126%	$15.7M	$53.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003405	−0.243%	$10.7M	$17.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003410	−0.088%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003412	−0.029%	$734K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003406	−0.205%	$10.0M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003413	+0.006%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003406	−0.205%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003408	−0.146%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003401	−0.352%	$305K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003409	−0.117%	$57K	$708K	25x	as long as short
SunX BONK-USDTlong	+0.0100%	4h	0.000003413	long leg	$2K	$12K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003409	−0.117%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003416	+0.088%	$94K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003409	−0.124%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003405	−0.234%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.101%	$571	—	100x	as long as short
Lighter 1000BONK	+0.0328%	1h	0.000003419	+0.176%	$354K	$474K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0337%	1h	0.000003409	−0.117%	$2K	$110K	10x
Backpack kBONK_USDC_PERP	+0.0359%	1h	0.000003418	+0.146%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0607%	1h	0.000003419	+0.176%	$9.7M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1457%	1h	0.000003419	+0.171%	$213K	$165K	50x	as long as short