Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2359%/8h= +258.3% APRpaid last 24h +0.124%

Price spread now: Kraken Futures against HTX+0.181%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$232as in the Funding arb table

Net, price: spread back to 7d avg − costs−$261as in the Price arb table

costs, in and out, $10k−$2822.822% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.502%+$50 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now +0.181%, 7d avg −0.027%

Together, before fees+0.368%+$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$71 a day on $10k at the current rate, and Kraken Futures is 0.207% dearer against HTX than usual: you sell high and buy low: +$21 more if the spread goes back to its 7-day average of −0.027%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.502% in total (about 26.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BONK-USDT	0.000003421	0.0100	pay 0.0050% / 4h	13m 50s	$97K	$120K	30x
Short	Kraken Futures PF_BONKUSD	0.000003427	0.2459	get 0.0307% / 1h	13m 50s	$221K	$177K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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 HTXbpFee Kraken FuturesbpOrdersPrice spread, now +0.181%Rate

Funding earned: $495.46
Price spread: +0.181% → −0.027%: $20.73
Slippage, 4 orders: −$260.19
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $234
Costs to cover: 2.822%
Break-even: 3.7 days

Slippage from HTX: live order book, 42 min ago; Kraken Futures: live order book, 44 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 HTX live order book, 42 min ago	32.56 bp	160.1 bp −$160	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 44 min ago	26.71 bp	34.7 bp −$35	73.5 bp −$735	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	−0.0320%	1h	0.000003390	−0.906%	$42K	$35K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003420	−0.018%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003419	−0.056%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.297%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0043%	1h	0.000003419	−0.058%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0076%	4h	0.000003418	−0.088%	$29K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003419	−0.060%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0094%	4h	0.000003423	+0.058%	$974K	$15.5M	75x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003431	+0.292%	$225K	$672K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003420	−0.021%	$79K	$251K	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	0.000003423	+0.058%	$114K	$109K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003420	−0.017%	$16.6M	$59.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003421	−0.006%	$10.9M	$18.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003427	+0.175%	$2.5M	$9.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003420	−0.029%	$818K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003419	−0.058%	$9.0M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003419	−0.053%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003422	+0.029%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003421	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003417	−0.120%	$311K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003417	−0.117%	$58K	$705K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003419	−0.044%	$31K	$101K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003429	+0.234%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003418	−0.088%	$2K	$7K	10x	as long as short
HTX BONK-USDTlong	+0.0100%	4h	0.000003421	long leg	$97K	$120K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003418	−0.101%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003417	−0.117%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.306%	$571	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0342%	1h	0.000003419	−0.058%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0773%	1h	0.000003435	+0.409%	$10.1M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.2459%	1h	0.000003427	+0.181%	$221K	$177K	50x