Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.119%

Price spread now: HTX against Deribit+0.619%7-day average +0.162% · 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−$194as in the Price arb table

costs, in and out, $10k−$2392.395% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.569%+$57 on $10k

Price spread, last 4 days (all we have)−0.586%−$59 · spread now +0.619%, 7d avg +0.162%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and HTX is 0.457% dearer against Deribit than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.162%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003391	0.0045	pay 0.0006% / 1h	26m 29s	$2K	$110K	10x
Short	HTX BONK-USDT	0.000003412	0.0100	get 0.0050% / 4h	1h 26m	$97K	$119K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Deribit. 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 DeribitbpFee HTXbpOrdersPrice spread, now +0.619%Rate

Funding earned: $11.55
Price spread: +0.619% → +0.162%: $45.69
Slippage, 4 orders: −$220.48
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$182.24
Costs to cover: 2.395%
Break-even: 117.4 days

Slippage from Deribit: live order book, 2 min ago; HTX: live order book, 35 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 Deribit live order book, 2 min ago	7.36 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 35 min ago	33.26 bp	39.3 bp −$39	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	−0.0336%	1h	0.000003390	−0.029%	$43K	$34K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003394	+0.088%	$944K	$15.0M	75x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003391	+0.008%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003392	+0.032%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.450%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUALlong	+0.0045%	1h	0.000003391	long leg	$2K	$110K	10x
Orderly PERP_1000BONK_USDC	+0.0052%	4h	0.000003390	−0.029%	$29K	$58K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003400	+0.261%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003397	+0.177%	$224K	$670K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003399	+0.236%	$27K	$97K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003393	+0.066%	$78K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003396	+0.147%	$114K	$104K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003402	+0.324%	$16.0M	$56.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003399	+0.236%	$10.8M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003401	+0.295%	$2.5M	$8.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003392	+0.029%	$843K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003394	+0.088%	$9.6M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003392	+0.038%	$2.6M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003399	+0.236%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003396	+0.147%	—	$4.7M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003394	+0.088%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003409	+0.525%	$311K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003407	+0.472%	$57K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003403	+0.354%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003392	+0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDTshort	+0.0100%	4h	0.000003412	+0.619%	$97K	$119K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003398	+0.194%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003390	−0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.531%	$567	—	100x	as long as short
Hyperliquid kBONK	+0.0786%	1h	0.000003407	+0.472%	$10.1M	$4.7M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2044%	1h	0.000003400	+0.264%	$220K	$174K	50x	as long as short