Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.2359%/8h= +258.4% APRpaid last 24h +0.124%

Price spread now: Kraken Futures against Aster+0.229%54s7-day average +0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1401.396% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.561%+$56 on $10k

Price spread, last 4 days (all we have)−0.456%−$46 · spread now +0.229%, 7d avg +0.102%

Together, before fees+0.106%+ Points / potential airdropAster: Stage 5 · farm board+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$71 a day on $10k at the current rate, and Kraken Futures is 0.127% dearer against Aster than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.102%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.561% in total (about 29.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster 1000BONKUSDT	0.000003419	0.0100	pay 0.0050% / 4h	15m 28s	$79K	$251K	10x
Short	Kraken Futures PF_BONKUSD	0.000003427	0.2459	get 0.0307% / 1h	15m 28s	$221K	$177K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.229%Rate

Funding earned: $495.47
Price spread: +0.229% → +0.102%: $12.72
Slippage, 4 orders: −$121.57
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $368.62
Costs to cover: 1.396%
Break-even: 1.8 days

Slippage from Aster: live order book, 41 min ago; Kraken Futures: live order book, 42 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, 41 min ago	8.88 bp	37.9 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 42 min ago	26.71 bp	34.7 bp −$35	73.5 bp −$735	doesn't fit	doesn't fit

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	−0.0320%	1h	0.000003390	−0.857%	$42K	$35K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003420	+0.031%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003422	+0.067%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.250%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0076%	4h	0.000003421	+0.049%	$29K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003421	+0.048%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003422	+0.079%	$224K	$672K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003422	+0.079%	$31K	$101K	10x	as long as short
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003419	long leg	$79K	$251K	10x
Pacifica kBONK	+0.0100%	1h	0.000003418	−0.038%	$114K	$109K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003425	+0.175%	$16.6M	$59.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003420	+0.032%	$10.9M	$18.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003423	+0.108%	$2.5M	$9.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003422	+0.079%	$818K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003427	+0.225%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003424	+0.146%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003423	+0.108%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003422	+0.079%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003417	−0.070%	$311K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003417	−0.068%	$58K	$705K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003425	+0.166%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003419	−0.009%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003422	+0.079%	$97K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003420	+0.008%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003420	+0.020%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0112%	4h	0.000003422	+0.079%	$974K	$15.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.263%	$572	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0335%	1h	0.000003420	+0.020%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0344%	1h	0.000003418	−0.038%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0773%	1h	0.000003429	+0.283%	$10.1M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.2459%	1h	0.000003427	+0.229%	$221K	$177K	50x