Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.122%

Price spread now: Deribit against Aster−0.077%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$95as in the Price arb table

costs, in and out, $10k−$910.907% of the position

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.514%−$51 on $10k

Price spread, last 3 days (all we have)−0.014%−$1 · spread now −0.077%, 7d avg −0.030%

Together, before fees−0.528%+ Points / potential airdropAster: Stage 5 · farm board−$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.047% cheaper against Aster than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster 1000BONKUSDT	0.000003438	0.0100	pay 0.0050% / 4h	2h 02m	$81K	$269K	10x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003435	0	get 0.0000% / 1h	2m 50s	$2K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$21
Price spread: −0.077% → −0.030%: −$4.7
Slippage, 4 orders: −$75.71
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$116.41
Costs to cover: 0.907%
Break-even: never at this rate

Slippage from Aster: live order book, 64 min ago; Deribit: live order book, 31 min ago.

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, 64 min ago	11.73 bp	46.3 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 31 min ago	8.77 bp	12.3 bp −$12	doesn't fit	doesn't fit	doesn't fit

BONK on 30 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	0.000003427	−0.309%	$44K	$27K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003432	−0.152%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	0.0000%	1h	0.000003435	−0.077%	$2K	$110K	10x
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003432	−0.158%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDC	+0.0023%	4h	0.000003436	−0.047%	$29K	$58K	20x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.760%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003432	−0.165%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003443	+0.156%	$225K	$678K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003431	−0.193%	$27K	$107K	10x	as long as short
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003438	long leg	$81K	$269K	10x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003433	−0.135%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003438	0.000%	$16.1M	$57.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003436	−0.047%	$10.9M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003438	+0.011%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003437	−0.018%	$876K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003437	−0.018%	$9.6M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003434	−0.103%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003434	−0.106%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003437	−0.018%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003430	−0.225%	$313K	$134K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003432	−0.164%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003436	−0.047%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003436	−0.047%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003442	+0.127%	$97K	$149K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003435	−0.087%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003434	−0.106%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.731%	$574	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0332%	1h	0.000003439	+0.040%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.1004%	1h	0.000003444	+0.185%	$10.2M	$6.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2045%	1h	0.000003446	+0.237%	$222K	$173K	50x	as long as short