Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.004%

Price spread now: Lighter against HTX−0.387%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$233as in the Funding arb table

Net, price: spread back to 7d avg − costs−$259as in the Price arb table

costs, in and out, $10k−$2322.324% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.637%+$64 · spread now −0.387%, 7d avg −0.119%

Together, before fees+0.634%+ Points / potential airdropLighter: Season 3 · farm board+$63 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 0.267% cheaper against HTX than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.119%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BONK-USDT	0.000003363	0.0100	pay 0.0050% / 4h	48m 37s	$95K	$119K	30x
Short	Lighter 1000BONK	0.000003350	0.0096	get 0.0012% / 1h	48m 37s	$222K	$667K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.387%Rate

Funding earned: −$0.84
Price spread: −0.387% → −0.119%: −$26.73
Slippage, 4 orders: −$220.38
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$259.94
Costs to cover: 2.324%
Break-even: never at this rate

Slippage from HTX: live order book, 7 min ago; Lighter: live order book, 57 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 HTX live order book, 7 min ago	32.56 bp	160.1 bp −$160	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 57 min ago	7.34 bp	15.2 bp −$15	36.8 bp −$368	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	−0.0320%	1h	0.000003347	−0.476%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003346	−0.494%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003345	−0.535%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003349	−0.413%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.646%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0070%	4h	0.000003344	−0.565%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003349	−0.403%	$4	—	15x	as long as short
Lighter 1000BONKshort	+0.0096%	1h	0.000003350	−0.387%	$222K	$667K	10x
Nado kBONK-PERP	+0.0100%	1h	0.000003347	−0.461%	$25K	$97K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003345	−0.534%	$77K	$250K	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	0.000003350	−0.387%	$111K	$106K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003350	−0.387%	$16.1M	$58.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003347	−0.476%	$10.6M	$18.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003351	−0.357%	$2.5M	$8.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003348	−0.446%	$810K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003349	−0.416%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003349	−0.425%	$2.5M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003347	−0.476%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003350	−0.387%	—	$4.8M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003342	−0.624%	$29K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003359	−0.122%	$306K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003365	+0.059%	$57K	$705K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003354	−0.268%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003343	−0.595%	$2K	$7K	10x	as long as short
HTX BONK-USDTlong	+0.0100%	4h	0.000003363	long leg	$95K	$119K	30x
Extended 1000BONK-USD	+0.0104%	1h	0.000003350	−0.399%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003340	−0.684%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0111%	4h	0.000003347	−0.476%	$954K	$14.9M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−10.794%	$560	—	100x	as long as short
Hyperliquid kBONK	+0.0836%	1h	0.000003353	−0.297%	$9.9M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2518%	1h	0.000003347	−0.469%	$216K	$176K	50x	as long as short