Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against HTX−0.314%7-day average — · you buy dearer than you sell

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

Long on HTX Short on dYdX

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.314% cheaper against HTX than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BONK-USDT	0.000003370	0.0100	pay 0.0050% / 4h	18m 51s	$92K	$153K	30x
Short	dYdX BONK-USD	0.000003359	0	get 0.0000% / 1h	18m 51s	$12K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against HTX. 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 HTXbpFee dYdXbpOrdersPrice spread, now −0.314%Rate

Funding earned: −$21
Price spread: −0.314% → 0.000%: −$31.37
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$74.37
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 57 min ago; dYdX: 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 HTX live order book, 57 min ago	17.79 bp	120.5 bp −$120	doesn't fit	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.0456%	1h	0.000003342	−0.831%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003359	−0.326%	$1.0M	$13.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0068%	4h	0.000003360	−0.297%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003360	−0.285%	$1K	—	150x	as long as short
dYdX BONK-USDshort	0.0000%	1h	0.000003359	−0.314%	$12K	$3K	10x
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003360	−0.297%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.849%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003361	−0.267%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003360	−0.297%	$188K	$300K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003362	−0.242%	$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	0.000003360	−0.297%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003358	−0.356%	$15.2M	$52.5M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.386%	$10.2M	$16.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003358	−0.356%	$2.4M	$7.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003357	−0.386%	$717K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003358	−0.356%	$9.8M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003360	−0.306%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.386%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003359	−0.326%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003360	−0.297%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003362	−0.236%	$303K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003356	−0.415%	$57K	$703K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003362	−0.223%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003363	−0.208%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003360	−0.297%	$2K	$6K	10x	as long as short
HTX BONK-USDTlong	+0.0100%	4h	0.000003370	long leg	$92K	$153K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003357	−0.390%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003359	−0.326%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.979%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.1217%	1h	0.000003365	−0.148%	$10.1M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1456%	1h	0.000003366	−0.123%	$205K	$150K	50x	as long as short