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: Gate against Reya−0.314%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 Gate

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. Gate is 0.314% cheaper against Reya than usual: you would sell low and buy high (spread −0.314% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 2 months 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	0.000003643	0.0083	pay 0.0010% / 1h	49m 48s	$4	—	15x
Short	Gate BONK_USDT	0.000003632	0.0100	get 0.0050% / 4h	1h 49m	$1.0M	$3.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.314%Rate

Funding earned: $3.6
Price spread: −0.314% → 0.000%: −$31.36
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$48.76
Costs to cover: 0.210%
Break-even: 101.9 days

Slippage unknown: Reya: no order-book sample; Gate: 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 Gate live order book, 3 min ago	2.76 bp	21.0 bp −$21	95.6 bp −$956	doesn't fit	doesn't fit

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	0.000003606	−1.027%	$44K	$52K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003629	−0.386%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003639	−0.119%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−10.140%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERPlong	+0.0083%	1h	0.000003643	long leg	$4	—	15x
BloFin 1000BONK-USDT	+0.0085%	4h	0.000003627	−0.451%	$1.1M	$19.0M	75x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003624	−0.533%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003631	−0.331%	$61K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003630	−0.369%	$121K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003631	−0.341%	$18.6M	$76.7M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003627	−0.462%	$12.3M	$23.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003629	−0.396%	$3.0M	$13.0M	20x	as long as short
Gate BONK_USDTshort	+0.0100%	4h	0.000003632	−0.314%	$1.0M	$3.2M	50x
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003633	−0.286%	$11.6M	$8.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003634	−0.267%	$3.0M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003631	−0.341%	$4.6M	$4.3M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003634	−0.259%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003625	−0.508%	$339K	$146K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003624	−0.533%	$61K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003640	−0.094%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003648	+0.126%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003643	−0.012%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003645	+0.043%	$104K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003634	−0.272%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003638	−0.149%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−17.660%	$402	—	100x	as long as short
Lighter 1000BONK	+0.0352%	1h	0.000003633	−0.286%	$253K	$738K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0574%	1h	0.000003643	−0.012%	$20K	$155K	10x	as long as short
Hyperliquid kBONK	+0.1248%	1h	0.000003639	−0.122%	$12.0M	$7.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1645%	1h	0.000003648	+0.126%	$56K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2955%	1h	0.000003653	+0.276%	$225K	$219K	50x	as long as short