Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.005%

Price spread now: Bybit against Reya+0.155%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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 for this trade now. Funding pays +$1 a day on $10k at the current rate, and Bybit is 0.155% dearer against Reya than usual: you sell high and buy low: +$15 more if the spread 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	Reya kBONKRUSDPERP	0.000003400	0.0083	pay 0.0010% / 1h	45m 29s	$4	—	15x
Short	Bybit 1000BONKUSDT	0.000003405	0.0100	get 0.0050% / 4h	45m 29s	$11.8M	$26.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Reya. 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 ReyabpFee BybitbpOrdersPrice spread, now +0.155%Rate

Funding earned: $3.59
Price spread: +0.155% → 0.000%: $15.49
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $2.08
Costs to cover: 0.170%
Break-even: 2.9 days

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 1 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 Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	2.94 bp	9.1 bp −$9	20.4 bp −$204	155.9 bp −$15.6K	doesn't fit

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 exchanges

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
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003395	−0.154%	$23	—	150x	as long as short
Coinbase International 1000BONK-PERP-INTX	+0.0032%	1h	0.000003377	−0.680%	$44K	$88K	50x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.710%	$3K	$57	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0061%	4h	0.000003401	+0.025%	$1.0M	$19.9M	75x	as long as short
dYdX BONK-USD	+0.0068%	1h	0.000003399	−0.030%	$13K	$12K	10x	as long as short
Reya kBONKRUSDPERPlong	+0.0083%	1h	0.000003400	long leg	$4	—	15x
Lighter 1000BONK	+0.0096%	1h	0.000003404	+0.114%	$226K	$756K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003400	+0.011%	$63K	$134K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003404	+0.114%	$47K	$210K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003402	+0.055%	$113K	$150K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003402	+0.054%	$17.3M	$90.5M	75x	as long as short
Bybit 1000BONKUSDTshort	+0.0100%	4h	0.000003405	+0.155%	$11.8M	$26.8M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003401	+0.025%	$2.9M	$14.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003400	−0.004%	$900K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003399	−0.033%	$10.6M	$11.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003403	+0.084%	$2.8M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003402	+0.055%	$4.3M	$5.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003400	−0.004%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003394	−0.191%	$321K	$137K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003390	−0.298%	$57K	$693K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003397	−0.092%	$29K	$46K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003405	+0.143%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003399	−0.033%	$2K	$9K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003401	+0.025%	$90K	$152K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003399	−0.021%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003393	−0.210%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.1287%	1h	0.000003000	−11.768%	$403	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0339%	1h	0.000003399	−0.033%	$23K	$152K	10x	as long as short
Hyperliquid kBONK	+0.0413%	1h	0.000003406	+0.173%	$11.6M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1272%	1h	0.000003406	+0.173%	$53K	$25K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1403%	1h	0.000003401	+0.037%	$175K	$256K	50x	as long as short