Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.010%

Price spread now: Lighter against Binance+0.110%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$520.519% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$16 on $10k

Price spread, last 4 days (all we have)−0.077%−$8 · spread now +0.110%, 7d avg +0.025%

Together, before fees+0.088%+ Points / potential airdropLighter: Season 3 · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.085% dearer against Binance than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000BONKUSDT	0.000003641	0.0100	pay 0.0050% / 4h	2h 02m	$18.8M	$75.6M	75x
Short	Lighter 1000BONK	0.000003645	0.0200	get 0.0025% / 1h	2m 09s	$255K	$739K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.110%Rate

Funding earned: $21
Price spread: +0.110% → +0.025%: $8.5
Slippage, 4 orders: −$41.95
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.45
Costs to cover: 0.519%
Break-even: 14.5 days

Slippage from Binance: live order book, 10 min ago; Lighter: live order book, 28 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 Binance live order book, 10 min ago	1.39 bp	11.6 bp −$12	23.0 bp −$230	134.7 bp −$13.5K	doesn't fit
Sell Lighter live order book, 28 min ago	1.42 bp	9.0 bp −$9	39.0 bp −$390	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	−0.0136%	1h	0.000003638	−0.082%	$45K	$52K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003640	−0.027%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003639	−0.058%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−10.080%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003641	−0.005%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003643	+0.055%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003644	+0.077%	$61K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003639	−0.055%	$124K	$129K	10x	as long as short
Binance 1000BONKUSDTlong	+0.0100%	4h	0.000003641	long leg	$18.8M	$75.6M	75x
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003638	−0.074%	$12.3M	$23.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003637	−0.110%	$3.0M	$12.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003639	−0.055%	$987K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003642	+0.027%	$11.2M	$8.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003638	−0.085%	$3.0M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003640	−0.027%	$4.7M	$4.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003639	−0.055%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003643	+0.051%	$337K	$142K	—	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003639	−0.055%	$31K	$53K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003646	+0.137%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003642	+0.027%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003642	+0.027%	$104K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003640	−0.016%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003636	−0.137%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0150%	4h	0.000003644	+0.082%	$1.1M	$18.9M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−17.605%	$401	—	100x	as long as short
Lighter 1000BONKshort	+0.0200%	1h	0.000003645	+0.110%	$255K	$739K	10x
ApeX Omni 1000BONKUSDT	+0.0245%	1h	0.000003647	+0.165%	$62K	$704K	25x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0575%	1h	0.000003638	−0.082%	$20K	$155K	10x	as long as short
Hyperliquid kBONK	+0.1547%	1h	0.000003647	+0.165%	$12.1M	$7.1M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1657%	1h	0.000003647	+0.165%	$49K	$18K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2545%	1h	0.000003653	+0.341%	$225K	$219K	50x	as long as short