Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1948%/8h= +213.3% APRpaid last 24h +0.069%

Price spread now: Kraken Futures against BingX+0.271%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1441.441% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.456%+$46 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$58 a day on $10k at the current rate, and Kraken Futures is 0.271% dearer against BingX than usual: you sell high and buy low: +$27 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.456% in total (about 23.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDC	0.000003431	0.0100	pay 0.0050% / 4h	2h 16m	—	$6.5M	—
Short	Kraken Futures PF_BONKUSD	0.000003440	0.2048	get 0.0256% / 1h	16m 15s	$214K	$165K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.271%Rate

Funding earned: $409.04
Price spread: +0.271% → 0.000%: $27.11
Slippage, 4 orders: −$124.13
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $292.02
Costs to cover: 1.441%
Break-even: 2.0 days

Slippage from BingX: live order book, 4 min ago; Kraken Futures: live order book, 51 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, 4 min ago	2.91 bp	25.7 bp −$26	76.3 bp −$763	515.5 bp −$51.5K	719.3 bp −$359.7K
Sell Kraken Futures live order book, 51 min ago	33.60 bp	46.5 bp −$47	97.7 bp −$977	doesn't fit	doesn't fit

BONK on 30 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	0.000003427	−0.117%	$44K	$27K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003429	−0.048%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003432	+0.035%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDC	+0.0001%	4h	0.000003436	+0.146%	$29K	$58K	20x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.576%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003433	+0.070%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003437	+0.175%	$232K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003432	+0.044%	$26K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003433	+0.060%	$66K	$254K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003431	0.000%	$114K	$123K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003437	+0.175%	$16.2M	$57.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003436	+0.134%	$10.9M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003433	+0.058%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003432	+0.029%	$793K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003437	+0.175%	$9.5M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003434	+0.085%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003434	+0.087%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDClong	+0.0100%	4h	0.000003431	long leg	—	$6.5M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003440	+0.273%	$313K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003440	+0.262%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003441	+0.291%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003434	+0.087%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003440	+0.262%	$97K	$149K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003432	+0.020%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003435	+0.117%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.562%	$574	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0332%	1h	0.000003437	+0.175%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0375%	1h	0.000003430	−0.029%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1008%	1h	0.000003441	+0.291%	$10.2M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.2048%	1h	0.000003440	+0.271%	$214K	$165K	50x