Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.007%

Price spread now: Lighter against Bitget+0.264%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$640.643% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 4 days (all we have)−0.236%−$24 · spread now +0.264%, 7d avg +0.061%

Together, before fees−0.204%+ Points / potential airdropLighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.204% dearer against Bitget than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget 1000BONKUSDT	0.000003405	0.0100	pay 0.0050% / 4h	2h 47m	$4.3M	$3.1M	75x
Short	Lighter 1000BONK	0.000003414	0.0280	get 0.0035% / 1h	47m 07s	$375K	$498K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.264%Rate

Funding earned: $37.8
Price spread: +0.264% → +0.061%: $20.38
Slippage, 4 orders: −$52.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.1
Costs to cover: 0.643%
Break-even: 8.1 days

Slippage from Bitget: live order book, 1 min ago; Lighter: live order book, 3 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 Bitget live order book, 1 min ago	4.40 bp	17.1 bp −$17	47.8 bp −$478	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	2.93 bp	12.1 bp −$12	31.4 bp −$314	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	−0.0336%	1h	0.000003390	−0.441%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003414	+0.264%	$939K	$14.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0025%	4h	0.000003409	+0.117%	$29K	$49K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003413	+0.244%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003407	+0.059%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003409	+0.106%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.847%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003410	+0.146%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003411	+0.176%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003414	+0.264%	$113K	$125K	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	0.000003409	+0.117%	$16.1M	$55.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003409	+0.129%	$10.7M	$17.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003408	+0.088%	$2.5M	$8.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003407	+0.059%	$742K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003409	+0.117%	$9.7M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003409	+0.117%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDTlong	+0.0100%	4h	0.000003405	long leg	$4.3M	$3.1M	75x
BingX 1000BONK-USDT	+0.0100%	4h	0.000003409	+0.117%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003404	−0.030%	$310K	$127K	—	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003411	+0.191%	$27K	$114K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003411	+0.176%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003407	+0.059%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003420	+0.441%	$97K	$161K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003405	−0.011%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003406	+0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.894%	$571	—	100x	as long as short
Lighter 1000BONKshort	+0.0280%	1h	0.000003414	+0.264%	$375K	$498K	10x
Backpack kBONK_USDC_PERP	+0.0526%	1h	0.000003410	+0.147%	$30K	$7K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0532%	1h	0.000003412	+0.206%	$57K	$712K	25x	as long as short
Hyperliquid kBONK	+0.0907%	1h	0.000003415	+0.294%	$10.1M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2062%	1h	0.000003416	+0.337%	$213K	$165K	50x	as long as short