Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.1301%/8h= −142.4% APRpaid last 24h −0.423%

Price spread now: MEXC against Kraken Futures+0.020%7-day average −0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$730.729% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.956%−$96 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now +0.020%, 7d avg −0.113%

Together, before fees−0.961%−$96 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.133% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.113%): +$13 on $10k if it goes back. Holding the pair costs −$39 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.956% in total) that is about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BONKUSD	0.000003406	0.1401	pay 0.0175% / 1h	43m 43s	$175K	$256K	50x
Short	MEXC 1000BONK_USDT	0.000003407	0.0100	get 0.0050% / 4h	43m 43s	$10.9M	$11.0M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$273.15
Price spread: +0.020% → −0.113%: $13.32
Slippage, 4 orders: −$62.93
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$332.75
Costs to cover: 0.729%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 62 min ago; MEXC: 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, 62 min ago	13.09 bp	39.5 bp −$39	153.2 bp −$1,532	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	2.94 bp	4.5 bp −$4	12.6 bp −$126	85.4 bp −$8,541	139.3 bp −$69.6K

BONK on 31 exchanges

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
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003400	−0.188%	$23	—	150x	as long as short
Coinbase International 1000BONK-PERP-INTX	+0.0032%	1h	0.000003377	−0.861%	$44K	$88K	50x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.885%	$3K	$57	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0044%	1h	0.000003404	−0.068%	$23K	$152K	10x	as long as short
dYdX BONK-USD	+0.0063%	1h	0.000003399	−0.211%	$13K	$12K	10x	as long as short
BloFin 1000BONK-USDT	+0.0081%	4h	0.000003402	−0.127%	$1.0M	$19.9M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003401	−0.167%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003409	+0.079%	$226K	$756K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003400	−0.171%	$63K	$134K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003404	−0.068%	$47K	$210K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003403	−0.097%	$113K	$150K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003406	−0.017%	$17.4M	$90.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003405	−0.027%	$11.8M	$26.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003405	−0.039%	$2.9M	$14.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003401	−0.156%	$901K	$3.3M	50x	as long as short
MEXC 1000BONK_USDTshort	+0.0100%	4h	0.000003407	+0.020%	$10.9M	$11.0M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003402	−0.127%	$2.8M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003404	−0.068%	$4.4M	$5.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003404	−0.068%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003394	−0.372%	$321K	$137K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003390	−0.479%	$57K	$693K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003405	−0.039%	$29K	$46K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003408	+0.049%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003403	−0.097%	$2K	$9K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003405	−0.039%	$90K	$152K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003400	−0.174%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003404	−0.068%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.1287%	1h	0.000003000	−11.928%	$403	—	100x	as long as short
Hyperliquid kBONK	+0.0423%	1h	0.000003410	+0.108%	$11.7M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1318%	1h	0.000003407	+0.020%	$53K	$25K	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.1401%	1h	0.000003406	long leg	$175K	$256K	50x