Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: Reya against Variational Omni+0.487%7-day average — · you sell dearer than you buy

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

Long on Variational Omni 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 airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.487% dearer against Variational Omni than usual: you sell high and buy low (spread +0.487% now, against zero (this spread has no 7-day history yet)): +$49 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000BONK	0.000003605	0.0100	pay 0.0050% / 4h	1h 29m	$338K	$146K	—
Short	Reya kBONKRUSDPERP	0.000003622	0.0083	get 0.0010% / 1h	29m 20s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee ReyabpOrdersPrice spread, now +0.487%Rate

Funding earned: −$3.6
Price spread: +0.487% → 0.000%: $48.71
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: $39.12
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 15 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 Variational Omni RFQ quote, 15 min ago	5.49 bp	doesn't fit	54.9 bp −$549	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	−0.0016%	1h	0.000003622	+0.475%	$46K	$62K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003607	+0.071%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003608	+0.092%	$25	—	150x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0026%	1h	0.000003622	+0.475%	$25K	$165K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.178%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003622	+0.487%	$4	—	15x
Nado kBONK-PERP	+0.0100%	1h	0.000003619	+0.406%	$55K	$123K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003624	+0.540%	$60K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003635	+0.836%	$121K	$138K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003624	+0.540%	$18.7M	$79.5M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003619	+0.398%	$12.5M	$24.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003618	+0.364%	$3.0M	$13.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003625	+0.558%	$964K	$3.4M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003621	+0.447%	$12.1M	$9.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003622	+0.464%	$3.1M	$10.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003620	+0.420%	$4.7M	$4.7M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003623	+0.503%	—	$5.0M	—	as long as short
Variational Omni 1000BONKlong	+0.0100%	4h	0.000003605	long leg	$338K	$146K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003644	+1.085%	$61K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003619	+0.392%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003624	+0.531%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003625	+0.558%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003624	+0.531%	$103K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003621	+0.437%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003619	+0.392%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0132%	4h	0.000003609	+0.115%	$1.1M	$19.2M	75x	as long as short
Lighter 1000BONK	+0.0176%	1h	0.000003636	+0.864%	$253K	$747K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.779%	$551	—	100x	as long as short
Hyperliquid kBONK	+0.1253%	1h	0.000003627	+0.614%	$12.4M	$7.8M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1747%	1h	0.000003645	+1.113%	$56K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2968%	1h	0.000003637	+0.904%	$224K	$222K	50x	as long as short