Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.075%

Price spread now: Aster against Orderly+0.274%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.547%+$55 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.274% dearer against Orderly than usual: you sell high and buy low, +$27 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000BONK_USDC	0.000003526	0.0100	pay 0.0050% / 4h	19m 05s	$30K	$51K	20x
Short	Aster 1000BONKUSDT	0.000003536	0.0100	get 0.0050% / 4h	19m 05s	$59K	$319K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Orderly. 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 OrderlybpFee AsterbpOrdersPrice spread, now +0.274%Rate

Funding earned: $0
Price spread: +0.274% → 0.000%: $27.37
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aster: 4 bp × 2 orders: −$8
Net: $13.37
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Aster: live order book, 18 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Aster live order book, 18 min ago	8.45 bp	21.1 bp −$21	273.6 bp −$2,736	doesn't fit	doesn't fit

Orderly: 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	0.000003525	−0.028%	$43K	$66K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003529	+0.096%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003529	+0.077%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.147%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003530	+0.112%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003529	+0.099%	$69K	$138K	10x	as long as short
Aster 1000BONKUSDTshort	+0.0100%	4h	0.000003536	+0.274%	$59K	$319K	10x
Pacifica kBONK	+0.0100%	1h	0.000003533	+0.199%	$119K	$158K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003532	+0.170%	$18.5M	$87.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003528	+0.057%	$12.4M	$26.6M	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-SWAP	+0.0100%	8h	0.000003530	+0.113%	$3.0M	$14.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003527	+0.028%	$944K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003531	+0.142%	$11.2M	$9.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003526	+0.009%	$3.0M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003529	+0.085%	$4.6M	$5.3M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003528	+0.057%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003531	+0.153%	$332K	$99K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003509	−0.482%	$59K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDClong	+0.0100%	4h	0.000003526	long leg	$30K	$51K	20x
SunX BONK-USDT	+0.0100%	4h	0.000003535	+0.255%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003529	+0.085%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003531	+0.142%	$100K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003529	+0.073%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003521	−0.142%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0152%	4h	0.000003535	+0.255%	$1.1M	$20.3M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.918%	$539	—	100x	as long as short
Lighter 1000BONK	+0.0440%	1h	0.000003532	+0.170%	$248K	$768K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0602%	1h	0.000003526	0.000%	$35K	$164K	10x	as long as short
Hyperliquid kBONK	+0.0998%	1h	0.000003536	+0.284%	$12.1M	$8.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1673%	1h	0.000003537	+0.312%	$54K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4511%	1h	0.000003533	+0.199%	$180K	$276K	50x	as long as short