Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.1250%/8hnext payment −$1.56 per $10,000 · paid last 24h −0.022%

Price spread now: dYdX against Kraken Futures−0.116%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on dYdX

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

Both sides work against this trade now: funding costs −$38 a day on $10k at the current rate, and dYdX is 0.116% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BONKUSD	0.000003364	0.1250	pay 0.0156% / 1h	22m 20s	$205K	$180K	50x
Short	dYdX BONK-USD	0.000003360	0	get 0.0000% / 1h	22m 20s	$12K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Kraken Futures. 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 Kraken FuturesbpFee dYdXbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$262.59
Price spread: −0.116% → 0.000%: −$11.62
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$294.22
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 9 min ago; dYdX: 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 Kraken Futures live order book, 9 min ago	20.70 bp	34.3 bp −$34	124.0 bp −$1,240	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

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	−0.0280%	1h	0.000003361	−0.087%	$43K	$20K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003365	+0.032%	$1.0M	$12.6M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0040%	4h	0.000003353	−0.324%	$29K	$42K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003355	−0.253%	$1K	—	150x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003360	−0.116%	$12K	$3K	10x
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003354	−0.295%	$11K	$100K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.673%	$3K	$9K	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003355	−0.277%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003364	+0.003%	$197K	$273K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003356	−0.220%	$17K	$104K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003364	+0.004%	$65K	$238K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003362	−0.057%	$114K	$109K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003353	−0.311%	$15.0M	$47.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003352	−0.348%	$10.1M	$15.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003357	−0.205%	$2.4M	$7.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003356	−0.235%	$740K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003357	−0.205%	$10.2M	$6.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003354	−0.286%	$2.7M	$9.5M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003349	−0.443%	$4.2M	$2.9M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003353	−0.324%	—	$8.2M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003365	+0.032%	$30K	$6K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003362	−0.042%	$302K	$105K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003365	+0.032%	$57K	$689K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003366	+0.062%	$2K	$11K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003355	−0.265%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003371	+0.211%	$80K	$117K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003354	−0.284%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003352	−0.354%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.818%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0721%	1h	0.000003363	−0.027%	$10.0M	$6.7M	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.1250%	1h	0.000003364	long leg	$205K	$180K	50x