Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.005%

Price spread now: BingX against Reya−0.050%7-day average — · you buy dearer than you sell

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

Long on Reya Short on BingX

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

Funding pays, the price is against you. BingX is 0.050% cheaper against Reya than usual: you would sell low and buy high (spread −0.050% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 9.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya kBONKRUSDPERP	0.000003641	0.0083	pay 0.0010% / 1h	1m 44s	$4	—	15x
Short	BingX 1000BONK-USDT	0.000003639	0.0100	get 0.0050% / 4h	2h 01m	—	$4.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Reya. 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 ReyabpFee BingXbpOrdersPrice spread, now −0.050%Rate

Funding earned: $3.6
Price spread: −0.050% → 0.000%: −$4.98
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee BingX: 5 bp × 2 orders: −$10
Net: −$17.38
Costs to cover: 0.160%
Break-even: 40.8 days

Slippage unknown: Reya: no order-book sample; BingX: live order book, 3 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell BingX live order book, 3 min ago	5.53 bp	14.9 bp −$15	29.9 bp −$299	62.2 bp −$6,221	462.6 bp −$231.3K

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	−0.0136%	1h	0.000003638	−0.077%	$45K	$52K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003635	−0.151%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003639	−0.053%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−10.075%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERPlong	+0.0083%	1h	0.000003641	long leg	$4	—	15x
Nado kBONK-PERP	+0.0100%	1h	0.000003643	+0.060%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003645	+0.106%	$61K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003641	+0.005%	$124K	$129K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003641	+0.005%	$18.8M	$75.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003632	−0.242%	$12.3M	$23.5M	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	0.000003639	−0.050%	$3.0M	$12.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003636	−0.132%	$986K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003633	−0.215%	$11.2M	$8.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003640	−0.025%	$3.0M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003639	−0.050%	$4.7M	$4.2M	75x	as long as short
BingX 1000BONK-USDTshort	+0.0100%	4h	0.000003639	−0.050%	—	$4.9M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003643	+0.056%	$337K	$142K	—	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003639	−0.050%	$31K	$53K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003646	+0.142%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003642	+0.033%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003642	+0.033%	$104K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003636	−0.120%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003636	−0.132%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0150%	4h	0.000003644	+0.088%	$1.1M	$18.9M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−17.601%	$401	—	100x	as long as short
Lighter 1000BONK	+0.0208%	1h	0.000003642	+0.033%	$254K	$739K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0245%	1h	0.000003647	+0.170%	$62K	$704K	25x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0575%	1h	0.000003638	−0.077%	$20K	$155K	10x	as long as short
Hyperliquid kBONK	+0.1546%	1h	0.000003646	+0.142%	$12.1M	$7.1M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1657%	1h	0.000003647	+0.170%	$49K	$18K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2545%	1h	0.000003653	+0.346%	$225K	$219K	50x	as long as short