Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h 0.000%

Price spread now: Lighter against KuCoin−0.068%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$760.763% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 4 days (all we have)+0.065%+$6 · spread now −0.068%, 7d avg −0.013%

Together, before fees+0.160%+ Points / potential airdropLighter: Season 3 · farm board+$16 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 0.055% cheaper against KuCoin than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin 1000BONKUSDTM	0.000003374	0.0100	pay 0.0050% / 4h	3h 54m	$2.7M	$9.9M	75x
Short	Lighter 1000BONK	0.000003372	0.0096	get 0.0012% / 1h	54m 46s	$246K	$348K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$0.84
Price spread: −0.068% → −0.013%: −$5.53
Slippage, 4 orders: −$64.34
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$82.71
Costs to cover: 0.763%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Lighter: live order book, 66 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 KuCoin live order book, 4 min ago	2.96 bp	34.1 bp −$34	386.9 bp −$3,869	doesn't fit	doesn't fit
Sell Lighter live order book, 66 min ago	2.95 bp	9.4 bp −$9	41.3 bp −$413	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	−0.0376%	1h	0.000003373	−0.039%	$43K	$22K	50x	as long as short
Bybit 1000BONKUSDT	−0.0244%	4h	0.000003378	+0.098%	$10.4M	$17.0M	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003373	−0.039%	$1.0M	$14.0M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0063%	4h	0.000003366	−0.246%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003369	−0.160%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003369	−0.142%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.972%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0047%	1h	0.000003369	−0.157%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003368	−0.186%	$4	—	15x	as long as short
Lighter 1000BONKshort	+0.0096%	1h	0.000003372	−0.068%	$246K	$348K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado kBONK-PERP	+0.0100%	1h	0.000003370	−0.113%	$20K	$106K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003373	−0.045%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003372	−0.068%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003377	+0.076%	$15.6M	$53.2M	75x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003375	+0.021%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003372	−0.068%	$726K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003378	+0.110%	$9.9M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTMlong	+0.0100%	4h	0.000003374	long leg	$2.7M	$9.9M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003377	+0.080%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003378	+0.110%	—	$8.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003384	+0.289%	$304K	$119K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003375	+0.021%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003369	−0.157%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003373	−0.039%	$92K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003375	+0.017%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003362	−0.365%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.093%	$563	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0198%	1h	0.000003375	+0.021%	$30K	$7K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0495%	1h	0.000003380	+0.169%	$57K	$703K	25x	as long as short
Hyperliquid kBONK	+0.0637%	1h	0.000003380	+0.169%	$10.0M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1475%	1h	0.000003377	+0.077%	$207K	$156K	50x	as long as short