Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against Bybit−0.124%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$810.813% of the position

Long on Bybit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.006%+$1 on $10k

Price spread, last 7 days+0.074%+$7 · spread now −0.124%, 7d avg +0.020%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.144% cheaper against Bybit than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003632	0.0100	pay 0.0050% / 4h	1h 51m	$12.3M	$23.7M	50x
Short	KuCoin 1000BONKUSDTM	0.000003627	0.0100	get 0.0050% / 4h	1h 51m	$2.9M	$10.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.124%Rate

Funding earned: $0
Price spread: −0.124% → +0.020%: −$14.41
Slippage, 4 orders: −$58.27
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$95.68
Costs to cover: 0.813%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; KuCoin: live order book, 7 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 Bybit live order book, 2 min ago	1.38 bp	15.6 bp −$16	38.2 bp −$382	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	2.73 bp	28.3 bp −$28	131.7 bp −$1,317	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	−0.0016%	1h	0.000003606	−0.713%	$44K	$52K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003611	−0.565%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003622	−0.270%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.854%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003623	−0.247%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0085%	4h	0.000003627	−0.135%	$1.1M	$19.0M	75x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003624	−0.218%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003627	−0.127%	$61K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003612	−0.548%	$121K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003633	+0.038%	$18.7M	$76.6M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003632	long leg	$12.3M	$23.7M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003636	+0.113%	$3.0M	$13.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003629	−0.080%	$1.0M	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003637	+0.140%	$11.1M	$8.6M	125x	as long as short
KuCoin 1000BONKUSDTMshort	+0.0100%	4h	0.000003627	−0.124%	$2.9M	$10.7M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003634	+0.058%	$4.7M	$4.3M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003631	−0.025%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003608	−0.662%	$335K	$142K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003624	−0.218%	$61K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003621	−0.300%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003630	−0.052%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003628	−0.107%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003631	−0.025%	$103K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003627	−0.148%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003624	−0.218%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−17.399%	$398	—	100x	as long as short
Lighter 1000BONK	+0.0360%	1h	0.000003636	+0.113%	$254K	$738K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0578%	1h	0.000003628	−0.107%	$20K	$155K	10x	as long as short
Hyperliquid kBONK	+0.1308%	1h	0.000003641	+0.251%	$12.1M	$7.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1606%	1h	0.000003640	+0.223%	$56K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2966%	1h	0.000003640	+0.221%	$224K	$219K	50x	as long as short