Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.1165%/8hnext payment +$1.46 per $10,000 · paid last 24h −0.004%

Price spread now: Kraken Futures against Reya+0.177%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Kraken Futures

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 for this trade now. Funding pays +$35 a day on $10k at the current rate, and Kraken Futures is 0.177% dearer against Reya than usual: you sell high and buy low: +$18 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya kBONKRUSDPERP	0.000003365	0.0083	pay 0.0010% / 1h	22m 48s	$4	—	15x
Short	Kraken Futures PF_BONKUSD	0.000003371	0.1248	get 0.0156% / 1h	22m 48s	$205K	$180K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.177%Rate

Funding earned: $244.65
Price spread: +0.177% → 0.000%: $17.67
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $246.32
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Reya: no order-book sample; Kraken Futures: live order book, 9 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 Kraken Futures live order book, 9 min ago	20.70 bp	28.8 bp −$29	69.8 bp −$698	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	−0.0280%	1h	0.000003361	−0.118%	$43K	$20K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003365	0.000%	$1.0M	$12.6M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0042%	4h	0.000003367	+0.060%	$29K	$42K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003368	+0.084%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003370	+0.149%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.704%	$3K	$9K	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0047%	1h	0.000003369	+0.119%	$11K	$100K	10x	as long as short
Reya kBONKRUSDPERPlong	+0.0083%	1h	0.000003365	long leg	$4	—	15x
Lighter 1000BONK	+0.0096%	1h	0.000003369	+0.119%	$198K	$273K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003365	0.000%	$17K	$104K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003370	+0.155%	$65K	$238K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003369	+0.119%	$114K	$109K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003362	−0.089%	$15.1M	$47.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003361	−0.115%	$10.1M	$15.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003364	−0.029%	$2.4M	$7.3M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003365	0.000%	$742K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003367	+0.060%	$10.3M	$6.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003367	+0.048%	$2.7M	$9.5M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003363	−0.059%	$4.2M	$2.9M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003361	−0.118%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003365	0.000%	$30K	$6K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003362	−0.074%	$302K	$105K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003365	0.000%	$57K	$689K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003372	+0.209%	$2K	$11K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003363	−0.059%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003371	+0.179%	$80K	$117K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003362	−0.080%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003364	−0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.847%	$563	—	100x	as long as short
Hyperliquid kBONK	+0.0724%	1h	0.000003369	+0.119%	$10.0M	$6.7M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.1248%	1h	0.000003371	+0.177%	$205K	$180K	50x