Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0150%/8h= −16.4% APRpaid last 24h −0.151%

Price spread now: Deribit against Aster−0.175%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$114as in the Price arb table

costs, in and out, $10k−$1000.996% of the position

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.508%−$51 on $10k

Price spread, last 3 days (all we have)−0.131%−$13 · spread now −0.175%, 7d avg −0.034%

Together, before fees−0.639%+ Points / potential airdropAster: Stage 5 · farm board−$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Deribit is 0.142% cheaper against Aster than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster 1000BONKUSDT	0.000003336	0.0100	pay 0.0050% / 4h	2h 03m	$64K	$251K	10x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003330	−0.0050	pay 0.0006% / 1h	3m 54s	$2K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. 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 AsterbpFee DeribitbpOrdersPrice spread, now −0.175%Rate

Funding earned: −$31.54
Price spread: −0.175% → −0.034%: −$14.17
Slippage, 4 orders: −$84.63
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$145.34
Costs to cover: 0.996%
Break-even: never at this rate

Slippage from Aster: live order book, 18 min ago; Deribit: live order book, 50 min ago.

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 Aster live order book, 18 min ago	10.38 bp	41.3 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 50 min ago	8.87 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit

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	−0.0320%	1h	0.000003327	−0.265%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003333	−0.085%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0057%	4h	0.000003328	−0.235%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	−0.0050%	1h	0.000003330	−0.175%	$2K	$110K	10x
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003329	−0.202%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003332	−0.125%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−1.854%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003328	−0.225%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003329	−0.205%	$196K	$290K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003328	−0.235%	$19K	$108K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003336	long leg	$64K	$251K	10x
Pacifica kBONK	+0.0100%	1h	0.000003330	−0.175%	$113K	$120K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003333	−0.085%	$14.9M	$51.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003330	−0.163%	$10.1M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003332	−0.115%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003327	−0.265%	$736K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003333	−0.085%	$10.0M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003332	−0.115%	$2.6M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003330	−0.175%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003332	−0.115%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003333	−0.085%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003332	−0.105%	$300K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003339	+0.094%	$56K	$696K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003333	−0.085%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003330	−0.175%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003330	−0.171%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003328	−0.235%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.068%	$556	—	100x	as long as short
HTX BONK-USDT	+0.0494%	4h	0.000003331	−0.145%	$77K	$123K	30x	as long as short
Hyperliquid kBONK	+0.0730%	1h	0.000003336	+0.004%	$9.8M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1152%	1h	0.000003336	−0.009%	$203K	$149K	50x	as long as short