Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against OKX−0.389%50s7-day average — · you buy dearer than you sell

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

Long on OKX Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.389% cheaper against OKX than usual: you would sell low and buy high (−$39 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003523	0.0100	pay 0.0100% / 8h	54m 48s	$2.9M	$14.2M	20x
Short	dYdX BONK-USD	0.000003509	0	get 0.0000% / 1h	54m 48s	$13K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against OKX. 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 OKXbpFee dYdXbpOrdersPrice spread, now −0.389%Rate

Funding earned: −$21
Price spread: −0.389% → 0.000%: −$38.89
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$79.89
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 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 OKX live order book, 3 min ago	1.41 bp	15.5 bp −$15	52.6 bp −$526	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 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	0.000003522	−0.028%	$43K	$63K	50x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003509	−0.389%	$13K	$3K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003516	−0.210%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.068%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003513	−0.287%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003513	−0.270%	$62K	$131K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003527	+0.109%	$66K	$318K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003509	−0.397%	$116K	$141K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003526	+0.072%	$18.2M	$83.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003521	−0.054%	$12.1M	$25.6M	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-SWAPlong	+0.0100%	8h	0.000003523	long leg	$2.9M	$14.2M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003521	−0.057%	$966K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003523	0.000%	$11.6M	$9.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003523	+0.003%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003523	0.000%	$4.5M	$5.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003523	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003490	−0.941%	$328K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003521	−0.057%	$59K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003525	+0.057%	$30K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003533	+0.284%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003529	+0.170%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003512	−0.312%	$100K	$133K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003522	−0.029%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003525	+0.057%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0159%	4h	0.000003527	+0.114%	$1.1M	$19.5M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.845%	$538	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0602%	1h	0.000003526	+0.085%	$35K	$165K	10x	as long as short
Lighter 1000BONK	+0.0888%	1h	0.000003531	+0.227%	$248K	$752K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1164%	1h	0.000003535	+0.341%	$54K	$23K	10x	as long as short
Hyperliquid kBONK	+0.1180%	1h	0.000003533	+0.284%	$12.1M	$8.1M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4504%	1h	0.000003538	+0.438%	$218K	$224K	50x	as long as short