Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bitget against KuCoin+0.058%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$940.936% of the position

Long on KuCoin Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.058%, 7d avg −0.033%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.091% dearer against KuCoin than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003638	0.0100	pay 0.0050% / 4h	1h 44m	$3.0M	$10.7M	75x
Short	Bitget 1000BONKUSDT	0.000003640	0.0100	get 0.0050% / 4h	1h 44m	$4.6M	$4.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.058%Rate

Funding earned: $0
Price spread: +0.058% → −0.033%: $9.05
Slippage, 4 orders: −$69.64
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$84.59
Costs to cover: 0.936%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Bitget: live order book, 3 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 KuCoin live order book, 4 min ago	2.75 bp	23.8 bp −$24	456.2 bp −$4,562	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	4.12 bp	16.5 bp −$17	41.3 bp −$413	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	−0.0016%	1h	0.000003623	−0.410%	$44K	$53K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003629	−0.234%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003641	+0.088%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−10.003%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003643	+0.152%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003636	−0.038%	$53K	$121K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003634	−0.095%	$61K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003632	−0.162%	$121K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003639	+0.038%	$18.7M	$77.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003634	−0.107%	$12.3M	$23.8M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003640	+0.058%	$3.0M	$13.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003639	+0.030%	$1.0M	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003635	−0.080%	$11.5M	$8.7M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003638	long leg	$3.0M	$10.7M	75x
Bitget 1000BONKUSDTshort	+0.0100%	4h	0.000003640	+0.058%	$4.6M	$4.4M	75x
BingX 1000BONK-USDC	+0.0100%	4h	0.000003638	+0.003%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003623	−0.400%	$339K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003636	−0.052%	$61K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003642	+0.113%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003649	+0.305%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003644	+0.168%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003635	−0.080%	$103K	$131K	30x	as long as short
BloFin 1000BONK-USDT	+0.0104%	4h	0.000003644	+0.168%	$1.1M	$19.1M	75x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003642	+0.104%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003638	+0.003%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−17.535%	$401	—	100x	as long as short
Lighter 1000BONK	+0.0208%	1h	0.000003647	+0.250%	$254K	$738K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0574%	1h	0.000003644	+0.168%	$20K	$155K	10x	as long as short
Hyperliquid kBONK	+0.1185%	1h	0.000003652	+0.388%	$12.1M	$7.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1580%	1h	0.000003653	+0.415%	$56K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2956%	1h	0.000003653	+0.416%	$225K	$219K	50x	as long as short