Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against KuCoin+0.022%7-day average — · you sell dearer than you buy

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

Long on KuCoin 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

The price spread pays, funding is against you. dYdX is 0.022% dearer against KuCoin than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003395	0.0100	pay 0.0050% / 4h	1h 48m	$2.6M	$9.9M	75x
Short	dYdX BONK-USD	0.000003395	0	get 0.0000% / 1h	48m 04s	$12K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$21
Price spread: +0.022% → 0.000%: $2.22
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$40.78
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	2.91 bp	43.0 bp −$43	520.1 bp −$5,201	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 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	0.000003393	−0.047%	$46K	$32K	50x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003395	+0.022%	$12K	$3K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003396	+0.044%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.553%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0038%	4h	0.000003394	−0.018%	$29K	$58K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0045%	1h	0.000003396	+0.041%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003397	+0.067%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003399	+0.130%	$223K	$669K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003396	+0.056%	$27K	$102K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003399	+0.130%	$79K	$256K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003399	+0.130%	$114K	$115K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003397	+0.056%	$15.9M	$56.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003394	−0.024%	$10.8M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003393	−0.047%	$2.5M	$8.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003392	−0.077%	$850K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003395	+0.012%	$9.7M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003395	long leg	$2.6M	$9.9M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003391	−0.106%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003394	−0.018%	—	$4.7M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003395	+0.012%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003426	+0.920%	$311K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003421	+0.778%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003400	+0.159%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003396	+0.041%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003411	+0.483%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003390	−0.149%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003395	+0.012%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.624%	$567	—	100x	as long as short
Hyperliquid kBONK	+0.0577%	1h	0.000003402	+0.218%	$10.1M	$5.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2040%	1h	0.000003406	+0.346%	$220K	$174K	50x	as long as short