Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.029%

Price spread now: Injective against SunX−3.479%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Injective

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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 3.479% cheaper against SunX than usual: you would sell low and buy high (−$348 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BONK-USDT	0.000003392	0.0100	pay 0.0050% / 4h	2h 41m	$2K	$12K	20x
Short	Injective BONK/USDC PERP	0.000003274	0.0033	get 0.0004% / 1h	41m 19s	$3K	$113	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now −3.479%Rate

Funding earned: −$14
Price spread: −3.479% → 0.000%: −$347.88
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$369.9
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: no order-book sample; Injective: 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 SunX no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

SunX and Injective: 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	−0.0336%	1h	0.000003382	−0.295%	$43K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003414	+0.649%	$939K	$14.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0019%	4h	0.000003378	−0.413%	$29K	$49K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003381	−0.311%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003379	−0.383%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003379	−0.374%	$23	—	150x	as long as short
Injective BONK/USDC PERPshort	+0.0033%	1h	0.000003274	−3.479%	$3K	$113	5.5x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003383	−0.266%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003384	−0.221%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003390	−0.055%	$65K	$253K	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	0.000003386	−0.177%	$112K	$125K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003380	−0.358%	$15.9M	$55.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003378	−0.413%	$10.7M	$17.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003380	−0.354%	$2.5M	$8.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003383	−0.265%	$735K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003383	−0.265%	$9.5M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003384	−0.236%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003377	−0.442%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003379	−0.383%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003379	−0.384%	$309K	$127K	—	as long as short
SunX BONK-USDTlong	+0.0100%	4h	0.000003392	long leg	$2K	$12K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003380	−0.354%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003391	−0.029%	$96K	$161K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003378	−0.422%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003378	−0.413%	$4K	—	3x	as long as short
ApeX Omni 1000BONKUSDT	+0.0145%	1h	0.000003411	+0.560%	$57K	$714K	25x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.557%	$566	—	100x	as long as short
Lighter 1000BONK	+0.0328%	1h	0.000003389	−0.088%	$350K	$545K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0363%	1h	0.000003395	+0.088%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0867%	1h	0.000003392	0.000%	$10.1M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2081%	1h	0.000003386	−0.187%	$211K	$165K	50x	as long as short