Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: KuCoin against Backpack+0.012%7-day average — · you sell dearer than you buy

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

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 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

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack kBONK_USDC_PERP	0.000003357	0.0100	pay 0.0013% / 1h	8m 10s	$30K	$7K	10x
Short	KuCoin 1000BONKUSDTM	0.000003357	0.0100	get 0.0050% / 4h	1h 08m	$2.7M	$9.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Backpack. 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 BackpackbpFee KuCoinbpOrdersPrice spread, now +0.012%Rate

Funding earned: $0
Price spread: +0.012% → 0.000%: $1.19
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$20.81
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; KuCoin: live order book, 5 min ago. 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 Backpack no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 5 min ago	1.49 bp	25.5 bp −$25	139.5 bp −$1,395	doesn't fit	doesn't fit

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
Deribit 1000BONK_USDC-PERPETUAL	−0.0346%	1h	0.000003354	−0.089%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003342	−0.447%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003363	+0.179%	$1.0M	$13.4M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0085%	4h	0.000003357	0.000%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003357	+0.012%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003363	+0.165%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.472%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003355	−0.058%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003357	0.000%	$188K	$301K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003361	+0.105%	$64K	$251K	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	0.000003362	+0.149%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.006%	$15.1M	$51.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.009%	$10.2M	$16.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003354	−0.089%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003356	−0.030%	$719K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003357	0.000%	$10.1M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTMshort	+0.0100%	4h	0.000003357	+0.012%	$2.7M	$9.9M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003356	−0.030%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003356	−0.030%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERPlong	+0.0100%	1h	0.000003357	long leg	$30K	$7K	10x
Variational Omni 1000BONK	+0.0100%	4h	0.000003360	+0.091%	$302K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003362	+0.149%	$57K	$700K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003357	+0.015%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003360	+0.089%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003356	−0.030%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003371	+0.417%	$91K	$151K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003355	−0.065%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003356	−0.030%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.634%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0921%	1h	0.000003362	+0.149%	$10.1M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0963%	1h	0.000003362	+0.155%	$204K	$149K	50x	as long as short