Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0234%/8h= −25.6% APRpaid last 24h +0.122%

Price spread now: SunX against Deribit+0.233%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on SunX

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

The price spread pays, funding is against you. SunX is 0.233% dearer against Deribit than usual: you sell high and buy low (spread +0.233% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003428	0.0334	pay 0.0042% / 1h	16m 58s	$2K	$110K	10x
Short	SunX BONK-USDT	0.000003436	0.0100	get 0.0050% / 4h	2h 16m	$2K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Deribit. 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 DeribitbpFee SunXbpOrdersPrice spread, now +0.233%Rate

Funding earned: −$49.09
Price spread: +0.233% → 0.000%: $23.34
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$40.75
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Deribit: live order book, 17 min ago; SunX: 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 Deribit live order book, 17 min ago	8.77 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell SunX no order-book sample	—	—	—	—	—

SunX: 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 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	−0.029%	$44K	$27K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0001%	4h	0.000003428	0.000%	$29K	$58K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003432	+0.126%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003427	−0.026%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.492%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003426	−0.062%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003432	+0.117%	$231K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003425	−0.073%	$26K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003432	+0.111%	$66K	$254K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003432	+0.117%	$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	0.000003429	+0.032%	$16.1M	$57.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003429	+0.029%	$10.9M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003427	−0.029%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003427	−0.029%	$783K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003429	+0.029%	$9.5M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003428	0.000%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003426	−0.058%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003428	0.000%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003440	+0.361%	$313K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003440	+0.350%	$58K	$709K	25x	as long as short
SunX BONK-USDTshort	+0.0100%	4h	0.000003436	+0.233%	$2K	$12K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003427	−0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003432	+0.117%	$97K	$149K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003428	−0.012%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003428	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.485%	$573	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUALlong	+0.0334%	1h	0.000003428	long leg	$2K	$110K	10x
Backpack kBONK_USDC_PERP	+0.0375%	1h	0.000003430	+0.058%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0999%	1h	0.000003437	+0.263%	$10.2M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2048%	1h	0.000003441	+0.367%	$214K	$165K	50x	as long as short