Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1505%/8h= +164.8% APRpaid last 24h +0.028%

Price spread now: Backpack against Aster+0.073%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$45 a day on $10k at the current rate, and Backpack is 0.073% dearer against Aster than usual: you sell high and buy low: +$7 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	Aster 1000BONKUSDT	0.000003534	0.0100	pay 0.0050% / 4h	2h 20m	$59K	$299K	10x
Short	Backpack kBONK_USDC_PERP	0.000003537	0.1605	get 0.0201% / 1h	20m 00s	$46K	$17K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.073%Rate

Funding earned: $316.05
Price spread: +0.073% → 0.000%: $7.3
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: $305.35
Costs to cover: 0.180%
Break-even: 0.2 days

Slippage unknown: Aster: live order book, 27 min ago; Backpack: 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 Aster live order book, 27 min ago	12.80 bp	42.8 bp −$43	doesn't fit	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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	0.000003499	−1.002%	$43K	$47K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003520	−0.408%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003529	−0.151%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.368%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003529	−0.155%	$4	—	15x	as long as short
Orderly PERP_1000BONK_USDC	+0.0095%	4h	0.000003528	−0.182%	$30K	$53K	20x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003525	−0.252%	$42K	$114K	10x	as long as short
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003534	long leg	$59K	$299K	10x
Pacifica kBONK	+0.0100%	1h	0.000003525	−0.267%	$117K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003534	0.000%	$18.1M	$71.7M	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	0.000003530	−0.128%	$11.7M	$22.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003531	−0.097%	$2.8M	$11.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003529	−0.153%	$911K	$3.1M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003531	−0.097%	$10.4M	$8.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003531	−0.097%	$3.0M	$10.4M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003530	−0.125%	$4.5M	$4.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003534	−0.012%	—	$4.9M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003509	−0.722%	$327K	$141K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003490	−1.257%	$59K	$703K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003537	+0.073%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003529	−0.153%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003524	−0.295%	$100K	$130K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003528	−0.181%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003526	−0.238%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0115%	4h	0.000003514	−0.578%	$1.0M	$17.9M	75x	as long as short
Lighter 1000BONK	+0.0184%	1h	0.000003532	−0.068%	$247K	$722K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−15.120%	$389	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0601%	1h	0.000003529	−0.153%	$9K	$134K	10x	as long as short
Hyperliquid kBONK	+0.1554%	1h	0.000003538	+0.101%	$11.7M	$6.7M	10x	as long as short
Backpack kBONK_USDC_PERPshort	+0.1605%	1h	0.000003537	+0.073%	$46K	$17K	10x
Kraken Futures PF_BONKUSD	+0.2631%	1h	0.000003534	−0.008%	$217K	$218K	50x	as long as short