Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2278%/8h= +249.5% APRpaid last 24h +0.159%

Price spread now: Kraken Futures against SunX−0.121%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 Kraken Futures

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. Kraken Futures is 0.121% cheaper against SunX than usual: you would sell low and buy high (spread −0.121% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 4 hours of funding at the current rate (+$68 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BONK-USDT	0.000003535	0.0100	pay 0.0050% / 4h	3h 01m	$2K	$13K	20x
Short	Kraken Futures PF_BONKUSD	0.000003531	0.2378	get 0.0297% / 1h	1m 29s	$225K	$203K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.121%Rate

Funding earned: $478.45
Price spread: −0.121% → 0.000%: −$12.08
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $448.37
Costs to cover: 0.180%
Break-even: 0.4 days

Slippage unknown: SunX: no order-book sample; Kraken Futures: live order book, 51 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 Kraken Futures live order book, 51 min ago	24.27 bp	30.9 bp −$31	104.3 bp −$1,043	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	−0.0312%	1h	0.000003527	−0.226%	$44K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003508	−0.753%	$13K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003531	−0.113%	$9K	$133K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003542	+0.190%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.383%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003546	+0.323%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0084%	4h	0.000003530	−0.141%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003505	−0.835%	$40K	$112K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003511	−0.680%	$66K	$290K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003515	−0.566%	$121K	$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	0.000003508	−0.758%	$17.7M	$68.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003504	−0.877%	$11.6M	$21.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003508	−0.764%	$2.6M	$10.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003509	−0.736%	$915K	$2.9M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003512	−0.651%	$9.7M	$7.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003510	−0.713%	$3.0M	$10.2M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003504	−0.877%	$4.5M	$3.6M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003508	−0.764%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003590	+1.552%	$333K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003560	+0.707%	$60K	$708K	25x	as long as short
SunX BONK-USDTlong	+0.0100%	4h	0.000003535	long leg	$2K	$13K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003528	−0.198%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003541	+0.170%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003508	−0.776%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003527	−0.226%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0158%	4h	0.000003564	+0.820%	$1.0M	$17.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.134%	$390	—	100x	as long as short
Lighter 1000BONK	+0.0224%	1h	0.000003522	−0.368%	$247K	$702K	10x	as long as short
Hyperliquid kBONK	+0.1070%	1h	0.000003522	−0.368%	$11.6M	$6.0M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1550%	1h	0.000003526	−0.255%	$48K	$16K	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.2378%	1h	0.000003531	−0.121%	$225K	$203K	50x