Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin−0.029%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$700.695% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.029%, 7d avg −0.019%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003428	0.0100	pay 0.0050% / 4h	2h 17m	$2.7M	$9.9M	75x
Short	Bybit 1000BONKUSDT	0.000003427	0.0100	get 0.0050% / 4h	2h 17m	$10.9M	$17.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → −0.019%: −$0.97
Slippage, 4 orders: −$46.53
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$70.51
Costs to cover: 0.695%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; Bybit: live order book, 1 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 KuCoin live order book, 1 min ago	1.46 bp	25.7 bp −$26	443.4 bp −$4,434	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.46 bp	12.7 bp −$13	30.4 bp −$304	277.9 bp −$27.8K	doesn't fit

BONK on 30 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	−0.0336%	1h	0.000003427	−0.029%	$44K	$27K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0001%	4h	0.000003428	0.000%	$29K	$58K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003432	+0.126%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003427	−0.026%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.492%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003426	−0.062%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003432	+0.117%	$231K	$671K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003425	−0.073%	$26K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003433	+0.150%	$66K	$254K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003432	+0.117%	$114K	$123K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003430	+0.064%	$16.1M	$57.1M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003427	−0.029%	$10.9M	$17.9M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003429	+0.029%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003427	−0.029%	$783K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003430	+0.058%	$9.5M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003428	long leg	$2.7M	$9.9M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003426	−0.058%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003427	−0.029%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003440	+0.361%	$313K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003440	+0.350%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003436	+0.233%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003427	−0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003432	+0.117%	$97K	$149K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003429	+0.017%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003428	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.485%	$573	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0334%	1h	0.000003428	0.000%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0382%	1h	0.000003440	+0.350%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1000%	1h	0.000003435	+0.204%	$10.2M	$7.6M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2048%	1h	0.000003441	+0.367%	$214K	$165K	50x	as long as short