Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.011%

Price spread now: Lighter against Binance+0.040%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 4 days (all we have)−0.060%−$6 · spread now +0.040%, 7d avg +0.022%

Together, before fees+0.134%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003371	0.0100	pay 0.0050% / 4h	1h 35m	$15.2M	$51.5M	75x
Short	Lighter 1000BONK	0.000003372	0.0096	get 0.0012% / 1h	35m 11s	$196K	$294K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$0.84
Price spread: +0.040% → +0.022%: $1.85
Slippage, 4 orders: −$31.6
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$40.6
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Binance: live order book, 7 min ago; Lighter: live order book, 39 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 Binance live order book, 7 min ago	1.48 bp	11.7 bp −$12	21.7 bp −$217	150.2 bp −$15.0K	doesn't fit
Sell Lighter live order book, 39 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
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003358	−0.375%	$43K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003368	−0.079%	$1.0M	$13.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0075%	4h	0.000003371	+0.010%	$29K	$41K	20x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0046%	1h	0.000003371	+0.010%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003371	+0.025%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003370	−0.019%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.867%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003372	+0.044%	$4	—	15x	as long as short
Lighter 1000BONKshort	+0.0096%	1h	0.000003372	+0.040%	$196K	$294K	10x
Nado kBONK-PERP	+0.0100%	1h	0.000003371	+0.010%	$19K	$106K	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	0.000003369	−0.037%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003370	−0.019%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003371	long leg	$15.2M	$51.5M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003368	−0.079%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003369	−0.049%	$2.5M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003368	−0.079%	$749K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003370	−0.019%	$10.1M	$6.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003368	−0.079%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003367	−0.108%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003368	−0.079%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003370	−0.019%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003374	+0.103%	$313K	$112K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003385	+0.426%	$57K	$698K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003376	+0.159%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003370	−0.019%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003370	−0.021%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003370	−0.019%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0145%	4h	0.000003380	+0.277%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.996%	$564	—	100x	as long as short
Hyperliquid kBONK	+0.0929%	1h	0.000003380	+0.277%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0959%	1h	0.000003378	+0.226%	$205K	$149K	50x	as long as short