Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: Reya against KuCoin−0.191%7-day average — · you buy dearer than you sell

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

Long on KuCoin 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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Reya is 0.191% cheaper against KuCoin than usual: you would sell low and buy high (−$19 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	KuCoin 1000BONKUSDTM	0.000003421	0.0100	pay 0.0050% / 4h	2h 35m	$2.7M	$9.9M	75x
Short	Reya kBONKRUSDPERP	0.000003414	0.0083	get 0.0010% / 1h	35m 05s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.191%Rate

Funding earned: −$3.6
Price spread: −0.191% → 0.000%: −$19.06
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: −$40.66
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 8 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 KuCoin live order book, 8 min ago	2.94 bp	23.5 bp −$23	499.1 bp −$4,991	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	−0.0336%	1h	0.000003369	−1.506%	$43K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003414	−0.190%	$939K	$14.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0014%	4h	0.000003413	−0.219%	$29K	$59K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003417	−0.088%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003415	−0.170%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.283%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003414	−0.191%	$4	—	15x
Nado kBONK-PERP	+0.0100%	1h	0.000003416	−0.117%	$26K	$116K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003413	−0.231%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003418	−0.073%	$113K	$125K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003422	+0.034%	$16.1M	$56.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003421	+0.015%	$10.8M	$17.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003423	+0.073%	$2.5M	$8.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003417	−0.102%	$748K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003420	−0.015%	$9.5M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003421	long leg	$2.7M	$9.9M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003420	−0.015%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003421	+0.015%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003414	−0.191%	$310K	$127K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003407	−0.395%	$57K	$713K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003421	+0.015%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003417	−0.102%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003417	−0.102%	$97K	$158K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003417	−0.099%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003410	−0.307%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0152%	1h	0.000003421	+0.015%	$233K	$666K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.294%	$571	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0336%	1h	0.000003417	−0.102%	$2K	$110K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0348%	1h	0.000003425	+0.132%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0922%	1h	0.000003429	+0.249%	$10.2M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2058%	1h	0.000003424	+0.089%	$213K	$165K	50x	as long as short