Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0476%/8h= +52.1% APRpaid last 24h +0.180%

Price spread now: Aster against Coinbase International−0.210%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Aster

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—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. Aster is 0.210% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.210% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 35 hours of funding at the current rate (+$14 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000BONK-PERP-INTX	0.000003373	−0.0376	get 0.0047% / 1h	55m 10s	$43K	$22K	50x
Short	Aster 1000BONKUSDT	0.000003366	0.0100	get 0.0050% / 4h	3h 55m	$65K	$251K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.210%Rate

Funding earned: $99.96
Price spread: −0.210% → 0.000%: −$20.96
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $61
Costs to cover: 0.180%
Break-even: 2.7 days

Slippage unknown: Coinbase International: no order-book sample; Aster: live order book, 16 min ago. 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 Coinbase International no order-book sample	—	—	—	—	—
Sell Aster live order book, 16 min ago	7.47 bp	19.0 bp −$19	doesn't fit	doesn't fit	doesn't fit

Coinbase International: 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-INTXlong	−0.0376%	1h	0.000003373	long leg	$43K	$22K	50x
Bybit 1000BONKUSDT	−0.0244%	4h	0.000003377	+0.110%	$10.4M	$17.0M	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003373	0.000%	$1.0M	$14.0M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0063%	4h	0.000003366	−0.208%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003369	−0.122%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003369	−0.104%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.935%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0047%	1h	0.000003369	−0.119%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003368	−0.147%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003372	−0.030%	$246K	$348K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado kBONK-PERP	+0.0100%	1h	0.000003370	−0.074%	$20K	$106K	10x	as long as short
Aster 1000BONKUSDTshort	+0.0100%	4h	0.000003366	−0.210%	$65K	$251K	10x
Pacifica kBONK	+0.0100%	1h	0.000003372	−0.030%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003367	−0.173%	$15.5M	$53.2M	75x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003374	+0.030%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003372	−0.030%	$726K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003367	−0.178%	$9.8M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003367	−0.190%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003373	0.000%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003377	+0.119%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003384	+0.327%	$304K	$119K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003375	+0.059%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003369	−0.119%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003373	0.000%	$92K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003368	−0.152%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003362	−0.326%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.058%	$563	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0198%	1h	0.000003375	+0.059%	$30K	$7K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0495%	1h	0.000003380	+0.208%	$57K	$703K	25x	as long as short
Hyperliquid kBONK	+0.0633%	1h	0.000003379	+0.178%	$9.9M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1475%	1h	0.000003377	+0.116%	$207K	$156K	50x	as long as short