BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2299%/8h= +251.8% APRnext payment +$2.87 per $10,000 · paid last 24h +0.155%

Price spread now: Kraken Futures against Lighter+0.105%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1091.092% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.539%+$54 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.105%, 7d avg +0.092%

Together, before fees+0.481%+ Points / potential airdropLighter: Season 3 · farm board+$48 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.092%, so right now this pair is about funding alone: +$69 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.539% in total (about 28.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.87 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000BONK	0.000003502	0.0096	pay 0.0012% / 1h	43m 03s	$240K	$685K	10x
Short	Kraken Futures PF_BONKUSD	0.000003506	0.2395	get 0.0299% / 1h	43m 03s	$223K	$178K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.105%Rate

Funding earned: $482.86
Price spread: +0.105% → +0.092%: $1.27
Slippage, 4 orders: −$99.18
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $374.96
Costs to cover: 1.092%
Break-even: 1.6 days

Slippage from Lighter: live order book, 57 min ago; Kraken Futures: 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, 57 min ago	4.44 bp	14.4 bp −$14	36.7 bp −$367	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 9 min ago	24.27 bp	30.9 bp −$31	104.3 bp −$1,043	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	−0.0312%	1h	0.000003494	−0.228%	$44K	$38K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003500	−0.057%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003497	−0.154%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.511%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0048%	4h	0.000003500	−0.057%	$988K	$16.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0081%	4h	0.000003495	−0.200%	$30K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003496	−0.173%	$4	—	15x	as long as short
Lighter 1000BONKlong	+0.0096%	1h	0.000003502	long leg	$240K	$685K	10x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003504	+0.061%	$81K	$249K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003501	−0.029%	$117K	$105K	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	0.000003495	−0.194%	$16.9M	$61.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003497	−0.131%	$11.4M	$19.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003494	−0.228%	$2.5M	$9.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003498	−0.114%	$869K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003499	−0.086%	$9.6M	$7.3M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003500	−0.063%	$3.1M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003492	−0.286%	$4.4M	$3.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003498	−0.114%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003488	−0.403%	$323K	$138K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003495	−0.200%	$59K	$706K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003496	−0.157%	$36K	$102K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003504	+0.057%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003498	−0.114%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003497	−0.143%	$99K	$120K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003493	−0.270%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003496	−0.171%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−14.335%	$584	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0322%	1h	0.000003498	−0.114%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.0816%	1h	0.000003502	0.000%	$10.3M	$4.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0951%	1h	0.000003504	+0.057%	$46K	$8K	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.2395%	1h	0.000003506	+0.105%	$223K	$178K	50x