Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Lighter against Aster−0.142%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$102as in the Price arb table

costs, in and out, $10k−$870.869% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 4 days (all we have)+0.127%+$13 · spread now −0.142%, 7d avg +0.008%

Together, before fees+0.188%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.150% cheaper against Aster than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster 1000BONKUSDT	0.000003360	0.0100	pay 0.0050% / 4h	1h 53m	$64K	$251K	10x
Short	Lighter 1000BONK	0.000003355	0.0096	get 0.0012% / 1h	53m 40s	$199K	$289K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.142%Rate

Funding earned: −$0.84
Price spread: −0.142% → +0.008%: −$15.02
Slippage, 4 orders: −$78.87
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$102.72
Costs to cover: 0.869%
Break-even: never at this rate

Slippage from Aster: live order book, 28 min ago; Lighter: live order book, 20 min ago.

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 Aster live order book, 28 min ago	10.38 bp	41.3 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 20 min ago	4.47 bp	10.1 bp −$10	38.3 bp −$383	doesn't fit	doesn't fit

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
Deribit 1000BONK_USDC-PERPETUAL	−0.0643%	1h	0.000003357	−0.082%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003327	−0.975%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003360	+0.007%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0062%	4h	0.000003358	−0.052%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003359	−0.023%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003362	+0.057%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.553%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003361	+0.045%	$4	—	15x	as long as short
Lighter 1000BONKshort	+0.0096%	1h	0.000003355	−0.142%	$199K	$289K	10x
Nado kBONK-PERP	+0.0100%	1h	0.000003362	+0.082%	$19K	$107K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDTlong	+0.0100%	4h	0.000003360	long leg	$64K	$251K	10x
Pacifica kBONK	+0.0100%	1h	0.000003354	−0.171%	$114K	$120K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003353	−0.197%	$15.0M	$51.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003356	−0.124%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003353	−0.201%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003353	−0.201%	$745K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003354	−0.171%	$10.1M	$6.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003355	−0.148%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003349	−0.320%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003353	−0.201%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003352	−0.239%	$301K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003346	−0.410%	$57K	$696K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003367	+0.215%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003358	−0.052%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003349	−0.321%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003357	−0.082%	$4K	—	3x	as long as short
Backpack kBONK_USDC_PERP	+0.0115%	1h	0.000003358	−0.052%	$30K	$7K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.708%	$562	—	100x	as long as short
HTX BONK-USDT	+0.0300%	4h	0.000003379	+0.573%	$79K	$136K	30x	as long as short
Hyperliquid kBONK	+0.0833%	1h	0.000003361	+0.037%	$9.9M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0964%	1h	0.000003360	+0.021%	$204K	$149K	50x	as long as short