Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0477%/8h= +52.3% APRpaid last 24h −0.069%

Price spread now: Deribit against MEXC+0.028%7-day average −0.014% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.423%−$42 on $10k

Price spread, last 4 days (all we have)−0.128%−$13 · spread now +0.028%, 7d avg −0.014%

Together, before fees−0.551%−$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Deribit is 0.041% dearer against MEXC than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.014%. Mind the row above: over the last 6 days funding on this pair cost −0.423%, 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	MEXC 1000BONK_USDT	0.000003628	0.0100	pay 0.0050% / 4h	1h 28m	$12.1M	$9.2M	125x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003629	0.0577	get 0.0072% / 1h	28m 04s	$25K	$165K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against MEXC. 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 MEXCbpFee DeribitbpOrdersPrice spread, now +0.028%Rate

Funding earned: $100.25
Price spread: +0.028% → −0.014%: $4.12
Slippage, 4 orders: −$24.78
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $72.59
Costs to cover: 0.318%
Break-even: 1.9 days

Slippage from MEXC: live order book, 5 min ago; Deribit: live order book, 46 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 MEXC live order book, 5 min ago	1.38 bp	4.6 bp −$5	12.6 bp −$126	80.1 bp −$8,012	130.6 bp −$65.3K
Sell Deribit live order book, 46 min ago	8.39 bp	11.9 bp −$12	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	−0.0016%	1h	0.000003622	−0.165%	$46K	$62K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003607	−0.567%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003627	−0.036%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.757%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003622	−0.154%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003625	−0.096%	$55K	$123K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003627	−0.040%	$60K	$303K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003623	−0.138%	$120K	$138K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003629	+0.028%	$18.7M	$79.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003620	−0.209%	$12.5M	$24.6M	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	0.000003628	0.000%	$3.0M	$13.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003626	−0.055%	$965K	$3.4M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003628	long leg	$12.1M	$9.2M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003624	−0.116%	$3.1M	$10.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003625	−0.083%	$4.7M	$4.7M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003628	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003605	−0.638%	$338K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003644	+0.441%	$61K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003624	−0.110%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003637	+0.248%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003630	+0.055%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003626	−0.055%	$103K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003631	+0.073%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003624	−0.110%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0110%	4h	0.000003624	−0.110%	$1.1M	$19.3M	75x	as long as short
Lighter 1000BONK	+0.0184%	1h	0.000003631	+0.083%	$253K	$747K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−17.310%	$554	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0577%	1h	0.000003629	+0.028%	$25K	$165K	10x
Hyperliquid kBONK	+0.1256%	1h	0.000003634	+0.165%	$12.5M	$7.8M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1747%	1h	0.000003635	+0.193%	$56K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2964%	1h	0.000003643	+0.417%	$224K	$222K	50x	as long as short