Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h −0.049%

Price spread now: Deribit against BingX+0.086%7-day average −0.001% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$880.876% of the position

Long on BingX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.539%−$54 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now +0.086%, 7d avg −0.001%

Together, before fees−0.725%−$73 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Deribit is 0.087% dearer against BingX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.001%. Mind the row above: over the last 6 days funding on this pair cost −0.539%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDC	0.000003491	0.0100	pay 0.0050% / 4h	3h 35m	—	$6.5M	—
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003494	0.0323	get 0.0040% / 1h	35m 48s	$34K	$164K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BingX. 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 BingXbpFee DeribitbpOrdersPrice spread, now +0.086%Rate

Funding earned: $46.78
Price spread: +0.086% → −0.001%: $8.66
Slippage, 4 orders: −$70.61
Fee BingX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$32.18
Costs to cover: 0.876%
Break-even: 11.8 days

Slippage from BingX: live order book, 15 min ago; Deribit: live order book, 28 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 BingX live order book, 15 min ago	5.74 bp	30.7 bp −$31	77.3 bp −$773	482.5 bp −$48.3K	708.5 bp −$354.2K
Sell Deribit live order book, 28 min ago	8.52 bp	12.0 bp −$12	doesn't fit	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	−0.0024%	1h	0.000003486	−0.143%	$42K	$66K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003490	−0.029%	$24	—	150x	as long as short
dYdX BONK-USD	+0.0017%	1h	0.000003495	+0.125%	$13K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.216%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003496	+0.142%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003495	+0.111%	$47K	$332K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003499	+0.229%	$116K	$163K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003492	+0.029%	$18.0M	$89.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003489	−0.057%	$12.4M	$27.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003491	0.000%	$3.0M	$15.0M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BONK_USDT	+0.0100%	4h	0.000003492	+0.029%	$922K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003493	+0.057%	$11.4M	$10.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003492	+0.020%	$3.0M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003488	−0.086%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDClong	+0.0100%	4h	0.000003491	long leg	—	$6.5M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003493	+0.055%	$328K	$94K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003491	0.000%	$59K	$700K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003495	+0.100%	$70K	$136K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003490	−0.029%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003505	+0.401%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003496	+0.143%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003501	+0.286%	$99K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003489	−0.055%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003490	−0.029%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0130%	4h	0.000003502	+0.315%	$1.1M	$20.1M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.065%	$534	—	100x	as long as short
Lighter 1000BONK	+0.0320%	1h	0.000003499	+0.229%	$246K	$759K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0323%	1h	0.000003494	+0.086%	$34K	$164K	10x
Hyperliquid kBONK	+0.0586%	1h	0.000003496	+0.143%	$12.0M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1821%	1h	0.000003499	+0.229%	$54K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2965%	1h	0.000003501	+0.300%	$179K	$272K	50x	as long as short