Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h −0.029%

Price spread now: Deribit against SunX−0.145%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.145% cheaper against SunX than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BONK-USDT	0.000003445	0.0100	pay 0.0050% / 4h	1h 51m	$2K	$14K	20x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003440	0.0041	get 0.0005% / 1h	51m 55s	$24K	$162K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.145%Rate

Funding earned: −$12.44
Price spread: −0.145% → 0.000%: −$14.51
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$41.95
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SunX: no order-book sample; Deribit: live order book, 59 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 SunX no order-book sample	—	—	—	—	—
Sell Deribit live order book, 59 min ago	5.78 bp	12.2 bp −$12	doesn't fit	doesn't fit	doesn't fit

SunX: 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 exchanges

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	−0.0056%	1h	0.000003447	+0.058%	$45K	$91K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003440	−0.151%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.964%	$3K	$57	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0041%	1h	0.000003440	−0.145%	$24K	$162K	10x
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003437	−0.227%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003445	0.000%	$244K	$735K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003438	−0.189%	$67K	$133K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003443	−0.057%	$54K	$218K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003439	−0.174%	$114K	$150K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003440	−0.139%	$17.7M	$89.5M	75x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003436	−0.276%	$12.1M	$26.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003437	−0.232%	$3.0M	$14.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003442	−0.087%	$911K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003440	−0.145%	$10.8M	$10.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003441	−0.128%	$2.9M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003438	−0.203%	$4.4M	$5.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003441	−0.116%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003440	−0.156%	$335K	$126K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003451	+0.174%	$58K	$693K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003438	−0.203%	$29K	$47K	20x	as long as short
SunX BONK-USDTlong	+0.0100%	4h	0.000003445	long leg	$2K	$14K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003442	−0.087%	$2K	$10K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003444	−0.029%	$98K	$137K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003437	−0.222%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003437	−0.232%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0115%	4h	0.000003442	−0.087%	$1.1M	$19.7M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−12.917%	$525	—	100x	as long as short
Hyperliquid kBONK	+0.0398%	1h	0.000003446	+0.029%	$11.7M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1173%	1h	0.000003448	+0.087%	$54K	$25K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1650%	1h	0.000003446	+0.029%	$175K	$253K	50x	as long as short
dYdX BONK-USD	+0.2591%	1h	0.000003439	−0.175%	$13K	$12K	10x	as long as short