Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: Reya against Bybit+0.303%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Reya is 0.303% dearer against Bybit than usual: you sell high and buy low (spread +0.303% now, against zero (this spread has no 7-day history yet)): +$30 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 59 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000BONKUSDT	0.000003378	0.0100	pay 0.0050% / 4h	3h 01m	$10.6M	$17.4M	50x
Short	Reya kBONKRUSDPERP	0.000003388	0.0083	get 0.0010% / 1h	1m 09s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Bybit. 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 BybitbpFee ReyabpOrdersPrice spread, now +0.303%Rate

Funding earned: −$3.6
Price spread: +0.303% → 0.000%: $30.35
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: $9.74
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Bybit: live order book, 2 min ago; Reya: 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 Bybit live order book, 2 min ago	1.48 bp	18.4 bp −$18	55.3 bp −$553	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	−0.0376%	1h	0.000003378	+0.009%	$43K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003382	+0.127%	$939K	$14.7M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0030%	4h	0.000003380	+0.068%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003391	+0.406%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003380	+0.068%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003383	+0.163%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.070%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003388	+0.303%	$4	—	15x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003383	+0.147%	$65K	$252K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003394	+0.483%	$113K	$122K	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	0.000003380	+0.065%	$15.8M	$54.4M	75x	as long as short
Bybit 1000BONKUSDTlong	+0.0100%	4h	0.000003378	long leg	$10.6M	$17.4M	50x
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003380	+0.068%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003377	−0.021%	$721K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003380	+0.068%	$9.8M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003378	+0.021%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003377	−0.021%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003379	+0.038%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003383	+0.154%	$308K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003392	+0.423%	$57K	$709K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003387	+0.290%	$24K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003384	+0.187%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003378	+0.009%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003389	+0.335%	$95K	$159K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003378	−0.002%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003378	+0.009%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.182%	$566	—	100x	as long as short
Lighter 1000BONK	+0.0408%	1h	0.000003385	+0.216%	$351K	$476K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0430%	1h	0.000003381	+0.098%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0587%	1h	0.000003385	+0.216%	$9.6M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1471%	1h	0.000003387	+0.278%	$211K	$165K	50x	as long as short