Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.4361%/8h= −477.6% APRpaid last 24h −0.273%

Price spread now: HTX against Kraken Futures−0.194%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$472as in the Funding arb table

Net, price: spread back to 7d avg − costs−$429as in the Price arb table

costs, in and out, $10k−$4084.078% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.646%−$65 on $10k

Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.194%, 7d avg +0.021%

Together, before fees−0.516%−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$131 a day on $10k at the current rate, and HTX is 0.215% cheaper against Kraken Futures than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.646% in total (about -33.7% 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	Kraken Futures PF_BONKUSD	0.000003572	0.4461	pay 0.0558% / 1h	33m 12s	$182K	$262K	50x
Short	HTX BONK-USDT	0.000003565	0.0100	get 0.0050% / 4h	33m 12s	$101K	$134K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.194%Rate

Funding earned: −$915.91
Price spread: −0.194% → +0.021%: −$21.46
Slippage, 4 orders: −$385.76
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$1,345.12
Costs to cover: 4.078%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; HTX: live order book, 3 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 Kraken Futures live order book, 4 min ago	29.55 bp	45.9 bp −$46	159.6 bp −$1,596	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	53.28 bp	62.1 bp −$62	doesn't fit	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	−0.0040%	1h	0.000003557	−0.418%	$43K	$64K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003550	−0.614%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003559	−0.362%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.341%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003563	−0.241%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0087%	4h	0.000003559	−0.362%	$1.1M	$20.2M	75x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003564	−0.233%	$59K	$318K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003550	−0.614%	$118K	$148K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003559	−0.362%	$18.2M	$85.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003558	−0.387%	$12.4M	$26.1M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003558	−0.390%	$3.0M	$14.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003560	−0.334%	$997K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003559	−0.362%	$11.6M	$9.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003562	−0.278%	$3.0M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003555	−0.474%	$4.6M	$5.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003558	−0.390%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003547	−0.703%	$333K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003546	−0.726%	$60K	$705K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003561	−0.292%	$65K	$134K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003559	−0.362%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003565	−0.194%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003558	−0.390%	$2K	$7K	10x	as long as short
HTX BONK-USDTshort	+0.0100%	4h	0.000003565	−0.194%	$101K	$134K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003560	−0.347%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003555	−0.474%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.012%	$544	—	100x	as long as short
Lighter 1000BONK	+0.0496%	1h	0.000003561	−0.306%	$248K	$762K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0593%	1h	0.000003562	−0.278%	$35K	$164K	10x	as long as short
Hyperliquid kBONK	+0.1005%	1h	0.000003563	−0.250%	$12.2M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1591%	1h	0.000003566	−0.166%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.4461%	1h	0.000003572	long leg	$182K	$262K	50x