Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: HTX against dYdX+0.158%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 6 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 for this trade now. Funding pays +$3 a day on $10k at the current rate, and HTX is 0.158% dearer against dYdX than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX BONK-USD	0.000003572	0	get 0.0000% / 1h	13m 54s	$13K	$3K	10x
Short	HTX BONK-USDT	0.000003578	0.0100	get 0.0050% / 4h	3h 13m	$101K	$121K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against dYdX. 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 dYdXbpFee HTXbpOrdersPrice spread, now +0.158%Rate

Funding earned: $21
Price spread: +0.158% → 0.000%: $15.8
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $14.8
Costs to cover: 0.220%
Break-even: 2.1 days

Slippage unknown: dYdX: no order-book sample; HTX: live order book, 37 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 dYdX no order-book sample	—	—	—	—	—
Sell HTX live order book, 37 min ago	90.93 bp	99.7 bp −$100	doesn't fit	doesn't fit	doesn't fit

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	−0.0312%	1h	0.000003577	+0.130%	$45K	$42K	50x	as long as short
dYdX BONK-USDlong	0.0000%	1h	0.000003572	long leg	$13K	$3K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003578	+0.158%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.352%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0065%	4h	0.000003574	+0.046%	$1.0M	$16.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0082%	4h	0.000003578	+0.158%	$31K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003581	+0.254%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003581	+0.256%	$43K	$110K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003584	+0.331%	$83K	$259K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003572	−0.010%	$122K	$110K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003583	+0.302%	$18.1M	$65.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003579	+0.172%	$11.6M	$20.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003585	+0.354%	$2.7M	$10.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003577	+0.130%	$902K	$2.8M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003579	+0.186%	$10.0M	$7.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003581	+0.231%	$3.0M	$10.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003587	+0.410%	$4.6M	$3.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003579	+0.186%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003540	−0.895%	$328K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003531	−1.158%	$59K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003584	+0.326%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003579	+0.186%	$2K	$7K	10x	as long as short
HTX BONK-USDTshort	+0.0100%	4h	0.000003578	+0.158%	$101K	$121K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003577	+0.129%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003577	+0.130%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−16.022%	$395	—	100x	as long as short
Lighter 1000BONK	+0.0200%	1h	0.000003583	+0.298%	$250K	$695K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0309%	1h	0.000003581	+0.242%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.0920%	1h	0.000003592	+0.550%	$11.8M	$5.8M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1500%	1h	0.000003584	+0.326%	$49K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2342%	1h	0.000003585	+0.358%	$228K	$176K	50x	as long as short