Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h 0.000%

Price spread now: BingX against Lighter−0.030%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$740.737% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.030%, 7d avg −0.038%

Together, before fees+0.056%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000BONK	0.000003360	0.0096	pay 0.0012% / 1h	31m 03s	$198K	$289K	10x
Short	BingX 1000BONK-USDC	0.000003359	0.0100	get 0.0050% / 4h	2h 31m	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.030%Rate

Funding earned: $0.84
Price spread: −0.030% → −0.038%: $0.82
Slippage, 4 orders: −$63.69
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$72.02
Costs to cover: 0.737%
Break-even: 607.2 days

Slippage from Lighter: live order book, 52 min ago; BingX: live order book, 9 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 Lighter live order book, 52 min ago	4.43 bp	12.1 bp −$12	31.8 bp −$318	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	4.44 bp	23.3 bp −$23	75.8 bp −$758	424.0 bp −$42.4K	664.7 bp −$332.4K

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
Deribit 1000BONK_USDC-PERPETUAL	−0.0643%	1h	0.000003357	−0.089%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003356	−0.119%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003359	−0.030%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0043%	4h	0.000003358	−0.060%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003360	−0.012%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003363	+0.079%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.560%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003356	−0.123%	$4	—	15x	as long as short
Lighter 1000BONKlong	+0.0096%	1h	0.000003360	long leg	$198K	$289K	10x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.032%	$66K	$252K	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	0.000003364	+0.119%	$116K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.030%	$15.1M	$49.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.089%	$10.1M	$16.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003360	0.000%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003357	−0.089%	$737K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003358	−0.060%	$9.7M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003359	−0.030%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003357	−0.089%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDCshort	+0.0100%	4h	0.000003359	−0.030%	—	$6.5M	—
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003359	−0.030%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003371	+0.339%	$303K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003359	−0.030%	$57K	$693K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003356	−0.104%	$20K	$104K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003363	+0.089%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003359	−0.030%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003359	−0.030%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003357	−0.086%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003356	−0.119%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.714%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0721%	1h	0.000003365	+0.149%	$9.9M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1142%	1h	0.000003364	+0.114%	$204K	$159K	50x	as long as short