Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: Reya against KuCoin−0.009%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003570	0.0100	pay 0.0050% / 4h	3h 05m	$3.0M	$10.1M	75x
Short	Reya kBONKRUSDPERP	0.000003570	0.0083	get 0.0010% / 1h	5m 27s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.009%Rate

Funding earned: −$3.6
Price spread: −0.009% → 0.000%: −$0.91
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$22.51
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 8 min ago; Reya: 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, 8 min ago	2.79 bp	38.8 bp −$39	418.4 bp −$4,184	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0312%	1h	0.000003592	+0.611%	$45K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003584	+0.394%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003569	−0.042%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.296%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0081%	4h	0.000003597	+0.751%	$31K	$54K	20x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003570	−0.009%	$4	—	15x
Nado kBONK-PERP	+0.0100%	1h	0.000003573	+0.064%	$43K	$111K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003579	+0.236%	$75K	$279K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003583	+0.359%	$123K	$113K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003572	+0.050%	$18.0M	$66.9M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003563	−0.196%	$11.8M	$20.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003568	−0.062%	$2.7M	$10.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003583	+0.359%	$931K	$2.9M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003571	+0.022%	$9.9M	$7.8M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003570	long leg	$3.0M	$10.1M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003569	−0.034%	$4.6M	$3.5M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003578	+0.218%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003590	+0.551%	$333K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003591	+0.583%	$60K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003606	+1.003%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003598	+0.779%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003603	+0.919%	$102K	$127K	30x	as long as short
BloFin 1000BONK-USDT	+0.0103%	4h	0.000003595	+0.695%	$1.0M	$17.5M	75x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003576	+0.165%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003592	+0.611%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.971%	$397	—	100x	as long as short
Lighter 1000BONK	+0.0224%	1h	0.000003590	+0.555%	$250K	$699K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0584%	1h	0.000003600	+0.835%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.1053%	1h	0.000003577	+0.190%	$11.8M	$6.0M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1568%	1h	0.000003606	+1.003%	$49K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2331%	1h	0.000003602	+0.897%	$230K	$203K	50x	as long as short