Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0243%/8h= +26.6% APRpaid last 24h −0.119%

Price spread now: Deribit against BingX+0.030%7-day average −0.003% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$570.566% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.561%−$56 on $10k

Price spread, last 4 days (all we have)−0.732%−$73 · spread now +0.030%, 7d avg −0.003%

Together, before fees−1.293%−$129 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Deribit is 0.033% dearer against BingX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 6 days funding on this pair cost −0.561%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDT	0.000003373	0.0100	pay 0.0050% / 4h	1h 07m	—	$4.7M	—
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003374	0.0343	get 0.0043% / 1h	7m 18s	$2K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.030%Rate

Funding earned: $51.04
Price spread: +0.030% → −0.003%: $3.3
Slippage, 4 orders: −$39.6
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$2.27
Costs to cover: 0.566%
Break-even: 7.3 days

Slippage from BingX: live order book, 8 min ago; Deribit: live order book, 22 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 BingX live order book, 8 min ago	4.41 bp	13.2 bp −$13	27.5 bp −$275	80.0 bp −$8,000	611.3 bp −$305.7K
Sell Deribit live order book, 22 min ago	7.36 bp	10.9 bp −$11	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	−0.0336%	1h	0.000003370	−0.089%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003375	+0.069%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003374	+0.036%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.935%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0065%	4h	0.000003371	−0.059%	$29K	$57K	20x	as long as short
BloFin 1000BONK-USDT	+0.0073%	4h	0.000003381	+0.237%	$955K	$15.0M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003372	−0.033%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003377	+0.119%	$223K	$670K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003375	+0.058%	$78K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003375	+0.059%	$113K	$104K	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	0.000003375	+0.052%	$16.2M	$57.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003372	−0.036%	$10.7M	$18.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003375	+0.059%	$2.5M	$8.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003374	+0.030%	$839K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003374	+0.030%	$9.5M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003373	−0.009%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003370	−0.089%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDTlong	+0.0100%	4h	0.000003373	long leg	—	$4.7M	—
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003378	+0.148%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003386	+0.395%	$307K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003378	+0.148%	$57K	$706K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003373	+0.015%	$27K	$96K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003378	+0.148%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003373	0.000%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003390	+0.504%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003372	−0.042%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003371	−0.059%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.058%	$564	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0343%	1h	0.000003374	+0.030%	$2K	$110K	10x
Hyperliquid kBONK	+0.0807%	1h	0.000003380	+0.208%	$10.0M	$4.7M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2056%	1h	0.000003379	+0.183%	$218K	$174K	50x	as long as short