Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Bybit−0.237%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on dYdX

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.237% cheaper against Bybit than usual: you would sell low and buy high (−$24 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003376	0.0100	pay 0.0050% / 4h	37m 58s	$10.7M	$18.4M	50x
Short	dYdX BONK-USD	0.000003368	0	get 0.0000% / 1h	37m 58s	$12K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now −0.237%Rate

Funding earned: −$21
Price spread: −0.237% → 0.000%: −$23.71
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$65.71
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; dYdX: no order-book sample. 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 Bybit live order book, 1 min ago	1.48 bp	13.0 bp −$13	35.7 bp −$357	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0320%	1h	0.000003374	−0.071%	$43K	$33K	50x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003368	−0.237%	$12K	$3K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003377	+0.024%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.033%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0043%	4h	0.000003364	−0.367%	$955K	$15.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0071%	4h	0.000003376	−0.012%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003380	+0.105%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003376	−0.012%	$224K	$668K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003380	+0.121%	$29K	$99K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003372	−0.137%	$78K	$250K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003367	−0.278%	$112K	$108K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003379	+0.077%	$16.3M	$58.8M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003376	long leg	$10.7M	$18.4M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003376	−0.012%	$2.5M	$8.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003372	−0.130%	$793K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003378	+0.047%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003374	−0.071%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003375	−0.041%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003379	+0.077%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003351	−0.756%	$306K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003357	−0.575%	$57K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003383	+0.195%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003376	−0.012%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003381	+0.136%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003374	−0.081%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003371	−0.160%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.148%	$564	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0243%	1h	0.000003379	+0.077%	$30K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0639%	1h	0.000003379	+0.077%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.0693%	1h	0.000003380	+0.107%	$9.9M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2493%	1h	0.000003381	+0.142%	$218K	$177K	50x	as long as short