BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0530%/8h= +58.1% APRnext payment +$0.66 per $10,000 · paid last 24h −0.113%

Price spread now: Deribit against Lighter+0.058%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−$550.550% of the position

Long on Lighter Short on Deribit

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)−0.343%−$34 · spread now +0.058%, 7d avg −0.041%

Together, before fees−0.913%+ Points / potential airdropLighter: Season 3 · farm board−$91 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Deribit is 0.099% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.041%. Mind the row above: over the last 6 days funding on this pair cost −0.571%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000BONK	0.000003425	0.0096	pay 0.0012% / 1h	26m 25s	$224K	$672K	10x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003427	0.0626	get 0.0078% / 1h	26m 25s	$2K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.058%Rate

Funding earned: $111.34
Price spread: +0.058% → −0.041%: $9.9
Slippage, 4 orders: −$48.01
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $66.22
Costs to cover: 0.550%
Break-even: 2.8 days

Slippage from Lighter: live order book, 14 min ago; Deribit: live order book, 62 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, 14 min ago	4.44 bp	14.4 bp −$14	36.7 bp −$367	doesn't fit	doesn't fit
Sell Deribit live order book, 62 min ago	7.36 bp	10.9 bp −$11	doesn't fit	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	0.000003420	−0.146%	$43K	$34K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003420	−0.146%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003419	−0.184%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.409%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0074%	4h	0.000003422	−0.088%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003418	−0.206%	$4	—	15x	as long as short
Lighter 1000BONKlong	+0.0096%	1h	0.000003425	long leg	$224K	$672K	10x
Nado kBONK-PERP	+0.0100%	1h	0.000003418	−0.190%	$31K	$101K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003416	−0.268%	$79K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003421	−0.117%	$114K	$109K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003417	−0.223%	$16.5M	$59.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003421	−0.126%	$10.8M	$18.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003424	−0.029%	$2.5M	$9.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003417	−0.234%	$816K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003415	−0.292%	$9.1M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003417	−0.242%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003415	−0.292%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003420	−0.146%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003399	−0.747%	$309K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003422	−0.088%	$58K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003435	+0.292%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003428	+0.088%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003440	+0.438%	$97K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003417	−0.244%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003422	−0.088%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0105%	4h	0.000003434	+0.263%	$966K	$15.5M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.409%	$571	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0336%	1h	0.000003433	+0.234%	$30K	$7K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0626%	1h	0.000003427	+0.058%	$2K	$110K	10x
Hyperliquid kBONK	+0.0757%	1h	0.000003425	0.000%	$10.1M	$4.8M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2449%	1h	0.000003441	+0.476%	$222K	$177K	50x	as long as short