Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1541%/8h= +168.7% APRpaid last 24h +0.088%

Price spread now: Backpack against KuCoin+0.128%7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 6 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 for this trade now. Funding pays +$46 a day on $10k at the current rate, and Backpack is 0.128% dearer against KuCoin than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003441	0.0100	pay 0.0050% / 4h	3h 24m	$2.9M	$11.1M	75x
Short	Backpack kBONK_USDC_PERP	0.000003445	0.1641	get 0.0205% / 1h	24m 44s	$53K	$23K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.128%Rate

Funding earned: $323.57
Price spread: +0.128% → 0.000%: $12.79
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $314.36
Costs to cover: 0.220%
Break-even: 0.2 days

Slippage unknown: KuCoin: live order book, 4 min ago; Backpack: 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 KuCoin live order book, 4 min ago	2.93 bp	39.5 bp −$39	468.7 bp −$4,687	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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	−0.0024%	1h	0.000003430	−0.308%	$43K	$82K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003434	−0.189%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.842%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003436	−0.136%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003438	−0.061%	$65K	$142K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003445	+0.125%	$47K	$322K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003441	+0.012%	$114K	$163K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003441	+0.026%	$17.8M	$91.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003440	−0.015%	$12.3M	$27.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003444	+0.099%	$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	0.000003439	−0.047%	$911K	$3.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003441	+0.012%	$11.0M	$10.6M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003441	long leg	$2.9M	$11.1M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003439	−0.047%	$4.4M	$5.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003442	+0.041%	—	$5.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003417	−0.691%	$319K	$96K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003420	−0.599%	$58K	$698K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003431	−0.279%	$29K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003441	+0.012%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003436	−0.134%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003441	+0.012%	$98K	$138K	30x	as long as short
BloFin 1000BONK-USDT	+0.0104%	4h	0.000003437	−0.105%	$1.1M	$19.6M	75x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003443	+0.056%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003434	−0.192%	$4K	—	3x	as long as short
dYdX BONK-USD	+0.0186%	1h	0.000003437	−0.095%	$13K	$11K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−12.806%	$525	—	100x	as long as short
Lighter 1000BONK	+0.0256%	1h	0.000003442	+0.041%	$245K	$766K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0332%	1h	0.000003437	−0.105%	$24K	$174K	10x	as long as short
Hyperliquid kBONK	+0.0583%	1h	0.000003442	+0.041%	$11.7M	$8.3M	10x	as long as short
Backpack kBONK_USDC_PERPshort	+0.1641%	1h	0.000003445	+0.128%	$53K	$23K	10x
Kraken Futures PF_BONKUSD	+0.3018%	1h	0.000003439	−0.037%	$174K	$273K	50x	as long as short