Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: Reya against Gate+0.096%7-day average — · you sell dearer than you buy

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

Long on Gate 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 0.096% dearer against Gate than usual: you sell high and buy low (spread +0.096% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BONK_USDT	0.000003566	0.0100	pay 0.0050% / 4h	1h 00m	$973K	$3.5M	50x
Short	Reya kBONKRUSDPERP	0.000003569	0.0083	get 0.0010% / 1h	0m 10s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against Gate. 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 GatebpFee ReyabpOrdersPrice spread, now +0.096%Rate

Funding earned: −$3.6
Price spread: +0.096% → 0.000%: $9.59
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: −$15.01
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 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 Gate live order book, 3 min ago	2.80 bp	23.8 bp −$24	121.2 bp −$1,212	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	−0.0016%	1h	0.000003568	+0.056%	$44K	$63K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003565	−0.020%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003565	−0.039%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.188%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0067%	4h	0.000003577	+0.308%	$1.1M	$19.6M	75x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003569	+0.096%	$4	—	15x
Nado kBONK-PERP	+0.0100%	1h	0.000003570	+0.126%	$62K	$128K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003570	+0.112%	$59K	$311K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003571	+0.140%	$119K	$139K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003571	+0.153%	$18.4M	$82.7M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003560	−0.157%	$12.3M	$25.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003565	−0.028%	$2.9M	$14.2M	20x	as long as short
Gate BONK_USDTlong	+0.0100%	4h	0.000003566	long leg	$973K	$3.5M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003564	−0.056%	$12.1M	$9.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003569	+0.084%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003561	−0.140%	$4.6M	$4.9M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003564	−0.056%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003566	−0.003%	$336K	$156K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003586	+0.561%	$60K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003567	+0.028%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003575	+0.252%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003568	+0.056%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003577	+0.308%	$101K	$132K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003566	+0.001%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003566	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.872%	$545	—	100x	as long as short
Lighter 1000BONK	+0.0216%	1h	0.000003575	+0.252%	$251K	$751K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0592%	1h	0.000003568	+0.056%	$35K	$176K	10x	as long as short
Hyperliquid kBONK	+0.1287%	1h	0.000003569	+0.084%	$12.2M	$8.0M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1613%	1h	0.000003573	+0.196%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.3014%	1h	0.000003582	+0.449%	$221K	$223K	50x	as long as short