Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: Reya against OKX−0.159%47s7-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 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Reya is 0.159% cheaper against OKX than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 47 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	0.000003512	0.0100	pay 0.0100% / 8h	2h 44m	$2.7M	$11.4M	20x
Short	Reya kBONKRUSDPERP	0.000003506	0.0083	get 0.0010% / 1h	44m 37s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.159%Rate

Funding earned: −$3.6
Price spread: −0.159% → 0.000%: −$15.88
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$35.48
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 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 OKX live order book, 4 min ago	1.42 bp	12.2 bp −$12	42.2 bp −$422	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	−0.0136%	1h	0.000003505	−0.199%	$43K	$46K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003509	−0.075%	$13K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003499	−0.370%	$9K	$134K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003498	−0.407%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.777%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0051%	4h	0.000003500	−0.342%	$1.0M	$17.5M	75x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003506	−0.159%	$4	—	15x
Orderly PERP_1000BONK_USDC	+0.0091%	4h	0.000003494	−0.513%	$30K	$53K	20x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003511	−0.028%	$248K	$706K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003513	+0.030%	$59K	$299K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003508	−0.114%	$119K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003509	−0.085%	$17.8M	$70.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003508	−0.103%	$11.6M	$21.9M	50x	as long as short
OKX BONK-USDT-SWAPlong	+0.0100%	8h	0.000003512	long leg	$2.7M	$11.4M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003507	−0.142%	$917K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003507	−0.142%	$9.9M	$8.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003503	−0.242%	$3.0M	$10.3M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003511	−0.028%	$4.5M	$3.8M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003512	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003501	−0.302%	$326K	$141K	—	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003508	−0.100%	$42K	$114K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003511	−0.028%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003499	−0.370%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003501	−0.313%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003512	−0.012%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003495	−0.484%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−14.579%	$386	—	100x	as long as short
ApeX Omni 1000BONKUSDT	+0.0426%	1h	0.000003515	+0.085%	$59K	$706K	25x	as long as short
Hyperliquid kBONK	+0.1679%	1h	0.000003515	+0.085%	$11.9M	$6.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1695%	1h	0.000003502	−0.285%	$46K	$17K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2650%	1h	0.000003509	−0.099%	$215K	$218K	50x	as long as short