Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0218%/8h= +23.9% APRpaid last 24h −0.074%

Price spread now: Deribit against KuCoin−0.391%7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$910.912% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.517%−$52 on $10k

Price spread, last 4 days (all we have)+0.213%+$21 · spread now −0.391%, 7d avg −0.048%

Together, before fees−0.304%−$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.343% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.391% now, against its 7-day average of −0.048%). If the spread goes back, that is −$34 on $10k: about 5.2 days of funding at the current rate (+$7 a day). Mind the row above: over the last 6 days funding on this pair cost −0.517%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003534	0.0100	pay 0.0050% / 4h	57m 52s	$3.0M	$10.9M	75x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003520	0.0318	get 0.0040% / 1h	57m 52s	$35K	$176K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.391%Rate

Funding earned: $45.89
Price spread: −0.391% → −0.048%: −$34.29
Slippage, 4 orders: −$72.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$79.64
Costs to cover: 0.912%
Break-even: 19.1 days

Slippage from KuCoin: live order book, 11 min ago; Deribit: live order book, 11 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, 11 min ago	1.39 bp	31.5 bp −$31	418.3 bp −$4,183	doesn't fit	doesn't fit
Sell Deribit live order book, 11 min ago	9.76 bp	16.0 bp −$16	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	−0.0040%	1h	0.000003520	−0.391%	$44K	$62K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003528	−0.156%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003518	−0.458%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.352%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003527	−0.195%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003526	−0.207%	$62K	$128K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003538	+0.121%	$66K	$318K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003529	−0.136%	$117K	$141K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003539	+0.147%	$18.2M	$83.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003524	−0.263%	$12.1M	$25.4M	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	0.000003531	−0.079%	$2.9M	$14.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003537	+0.091%	$963K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003538	+0.119%	$11.8M	$9.4M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003534	long leg	$3.0M	$10.9M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003528	−0.164%	$4.5M	$4.9M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003534	+0.006%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003566	+0.908%	$336K	$156K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003573	+1.109%	$60K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003515	−0.532%	$30K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003526	−0.221%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003522	−0.334%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003531	−0.079%	$100K	$133K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003536	+0.048%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003514	−0.560%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0133%	4h	0.000003537	+0.091%	$1.1M	$19.4M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.106%	$537	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0318%	1h	0.000003520	−0.391%	$35K	$176K	10x
Lighter 1000BONK	+0.0776%	1h	0.000003533	−0.023%	$249K	$751K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0968%	1h	0.000003534	+0.006%	$54K	$23K	10x	as long as short
Hyperliquid kBONK	+0.1053%	1h	0.000003536	+0.062%	$12.1M	$8.1M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.4508%	1h	0.000003535	+0.038%	$218K	$224K	50x	as long as short