Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.005%

Price spread now: Reya against OKX+0.053%7-day average — · you sell dearer than you buy

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

Long on OKX 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

The price spread pays, funding is against you. Reya is 0.053% dearer against OKX than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BONK-USDT-SWAP	0.000003642	0.0100	pay 0.0100% / 8h	1h 43m	$3.0M	$13.2M	20x
Short	Reya kBONKRUSDPERP	0.000003644	0.0083	get 0.0010% / 1h	43m 45s	$4	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya against OKX. 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 OKXbpFee ReyabpOrdersPrice spread, now +0.053%Rate

Funding earned: −$3.6
Price spread: +0.053% → 0.000%: $5.29
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Reya: 3 bp × 2 orders: −$6
Net: −$14.31
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 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 OKX live order book, 5 min ago	1.37 bp	14.5 bp −$14	43.3 bp −$433	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	−0.0016%	1h	0.000003623	−0.522%	$44K	$53K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003644	+0.063%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003640	−0.060%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−10.104%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERPshort	+0.0083%	1h	0.000003644	+0.053%	$4	—	15x
Nado kBONK-PERP	+0.0100%	1h	0.000003642	0.000%	$53K	$121K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003643	+0.027%	$61K	$302K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003645	+0.082%	$121K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003643	+0.027%	$18.8M	$77.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003638	−0.104%	$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-SWAPlong	+0.0100%	8h	0.000003642	long leg	$3.0M	$13.2M	20x
Gate BONK_USDT	+0.0100%	4h	0.000003643	+0.027%	$1.0M	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003647	+0.137%	$11.6M	$8.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003645	+0.082%	$3.0M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003640	−0.055%	$4.7M	$4.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003642	0.000%	—	$5.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003623	−0.512%	$339K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003636	−0.165%	$61K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003639	−0.082%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003647	+0.137%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003642	0.000%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003660	+0.494%	$104K	$131K	30x	as long as short
BloFin 1000BONK-USDT	+0.0104%	4h	0.000003644	+0.055%	$1.1M	$19.1M	75x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003644	+0.047%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003638	−0.110%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−17.628%	$556	—	100x	as long as short
Lighter 1000BONK	+0.0256%	1h	0.000003647	+0.137%	$254K	$739K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0849%	1h	0.000003643	+0.027%	$20K	$155K	10x	as long as short
Hyperliquid kBONK	+0.1176%	1h	0.000003649	+0.192%	$12.1M	$7.4M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1618%	1h	0.000003650	+0.220%	$56K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2954%	1h	0.000003654	+0.339%	$225K	$219K	50x	as long as short