Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.004%

Price spread now: Lighter against BingX+0.391%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$510.513% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.005%+$1 on $10k

Price spread, last 4 days (all we have)−0.448%−$45 · spread now +0.391%, 7d avg +0.036%

Together, before fees−0.443%+ Points / potential airdropLighter: Season 3 · farm board−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.354% dearer against BingX than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX 1000BONK-USDT	0.000003585	0.0100	pay 0.0050% / 4h	3h 11m	—	$4.8M	—
Short	Lighter 1000BONK	0.000003599	0.0176	get 0.0022% / 1h	11m 02s	$250K	$697K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now +0.391%Rate

Funding earned: $15.96
Price spread: +0.391% → +0.036%: $35.41
Slippage, 4 orders: −$41.34
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $0.03
Costs to cover: 0.513%
Break-even: 7.0 days

Slippage from BingX: live order book, 9 min ago; Lighter: live order book, 25 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 BingX live order book, 9 min ago	4.25 bp	15.1 bp −$15	36.9 bp −$369	122.1 bp −$12.2K	598.3 bp −$299.1K
Sell Lighter live order book, 25 min ago	1.42 bp	3.6 bp −$4	30.0 bp −$300	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	−0.0312%	1h	0.000003597	+0.335%	$45K	$42K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003607	+0.623%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003591	+0.167%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.675%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0083%	4h	0.000003591	+0.167%	$31K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003612	+0.751%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003615	+0.851%	$45K	$111K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003598	+0.365%	$83K	$264K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003606	+0.586%	$123K	$110K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003592	+0.198%	$18.1M	$66.2M	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	0.000003582	−0.086%	$11.8M	$20.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003586	+0.028%	$2.7M	$10.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003592	+0.195%	$943K	$2.9M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003588	+0.084%	$10.0M	$7.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003597	+0.346%	$3.1M	$10.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003583	−0.056%	$4.6M	$3.5M	75x	as long as short
BingX 1000BONK-USDTlong	+0.0100%	4h	0.000003585	long leg	—	$4.8M	—
Variational Omni 1000BONK	+0.0100%	4h	0.000003590	+0.135%	$333K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003577	−0.223%	$60K	$707K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003600	+0.418%	$2K	$13K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003596	+0.307%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003596	+0.307%	$102K	$126K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003585	−0.001%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003594	+0.251%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0158%	4h	0.000003598	+0.363%	$1.0M	$17.5M	75x	as long as short
Lighter 1000BONKshort	+0.0176%	1h	0.000003599	+0.391%	$250K	$697K	10x
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−16.318%	$399	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0585%	1h	0.000003596	+0.307%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.0989%	1h	0.000003599	+0.391%	$11.9M	$5.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1538%	1h	0.000003595	+0.279%	$49K	$16K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2330%	1h	0.000003604	+0.518%	$231K	$195K	50x	as long as short