BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0516%/8h= −56.5% APRnext payment −$0.64 per $10,000 · paid last 24h +0.113%

Price spread now: Lighter against Deribit+0.086%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$490.491% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+0.571%+$57 on $10k

Price spread, last 4 days (all we have)+0.198%+$20 · spread now +0.086%, 7d avg +0.041%

Together, before fees+0.769%+ Points / potential airdropLighter: Season 3 · farm board+$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.046% dearer against Deribit than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of +0.041%): +$5 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 7 hours. Mind the row above: over the last 6 days funding on this pair paid +0.571%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003485	0.0612	pay 0.0076% / 1h	54m 52s	$6K	$123K	10x
Short	Lighter 1000BONK	0.000003488	0.0096	get 0.0012% / 1h	54m 52s	$227K	$671K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. 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 DeribitbpFee LighterbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$108.27
Price spread: +0.086% → +0.041%: $4.55
Slippage, 4 orders: −$42.07
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$152.79
Costs to cover: 0.491%
Break-even: never at this rate

Slippage from Deribit: live order book, 29 min ago; Lighter: live order book, 46 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 Deribit live order book, 29 min ago	7.33 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 46 min ago	4.44 bp	13.0 bp −$13	54.8 bp −$548	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	0.000003474	−0.316%	$43K	$37K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003479	−0.160%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003481	−0.112%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.055%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0064%	4h	0.000003484	−0.029%	$980K	$16.0M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0080%	4h	0.000003481	−0.115%	$30K	$55K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003478	−0.188%	$4	—	15x	as long as short
Lighter 1000BONKshort	+0.0096%	1h	0.000003488	+0.086%	$227K	$671K	10x
Nado kBONK-PERP	+0.0100%	1h	0.000003481	−0.115%	$34K	$102K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003482	−0.100%	$80K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003480	−0.143%	$116K	$108K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003484	−0.029%	$16.8M	$60.7M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003482	−0.095%	$11.3M	$19.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003483	−0.057%	$2.6M	$9.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003483	−0.057%	$847K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003485	0.000%	$9.1M	$7.2M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003484	−0.020%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003487	+0.057%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003483	−0.057%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003473	−0.347%	$316K	$134K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003492	+0.201%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003486	+0.029%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003487	+0.057%	$99K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003487	+0.058%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003483	−0.057%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−13.917%	$581	—	100x	as long as short
ApeX Omni 1000BONKUSDT	+0.0335%	1h	0.000003462	−0.660%	$58K	$705K	25x	as long as short
Backpack kBONK_USDC_PERP	+0.0559%	1h	0.000003489	+0.115%	$31K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUALlong	+0.0612%	1h	0.000003485	long leg	$6K	$123K	10x
Hyperliquid kBONK	+0.0691%	1h	0.000003489	+0.115%	$10.3M	$4.9M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2406%	1h	0.000003490	+0.150%	$225K	$177K	50x	as long as short