BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0254%/8h= +27.8% APRnext payment +$0.32 per $10,000 · paid last 24h −0.130%

Price spread now: Deribit against Lighter+1.116%7-day average −0.042% · 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+$67as in the Price arb table

costs, in and out, $10k−$480.483% 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)−0.558%−$56 on $10k

Price spread, last 3 days (all we have)−1.164%−$116 · spread now +1.116%, 7d avg −0.042%

Together, before fees−1.723%+ Points / potential airdropLighter: Season 3 · farm board−$172 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 1.158% dearer against Lighter than usual: you sell high and buy low: +$116 more if the spread goes back to its 7-day average of −0.042%. Mind the row above: over the last 6 days funding on this pair cost −0.558%, 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	0.000003406	0.0368	pay 0.0046% / 1h	3m 42s	$354K	$475K	10x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003444	0.0622	get 0.0078% / 1h	3m 42s	$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 +1.116%Rate

Funding earned: $53.31
Price spread: +1.116% → −0.042%: $115.79
Slippage, 4 orders: −$41.3
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $120.8
Costs to cover: 0.483%
Break-even: from the start

Slippage from Lighter: live order book, 52 min ago; Deribit: live order book, 35 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	1.48 bp	10.0 bp −$10	27.5 bp −$275	doesn't fit	doesn't fit
Sell Deribit live order book, 35 min ago	10.31 bp	13.8 bp −$14	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	−0.0376%	1h	0.000003448	+1.233%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003422	+0.470%	$930K	$14.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0032%	4h	0.000003441	+1.028%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003400	−0.163%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003446	+1.183%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.876%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003439	+0.981%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003434	+0.837%	$20K	$100K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003421	+0.451%	$66K	$253K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003401	−0.147%	$113K	$122K	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	0.000003402	−0.117%	$15.8M	$54.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003398	−0.226%	$10.7M	$17.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003391	−0.440%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003414	+0.235%	$729K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003398	−0.235%	$9.9M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003401	−0.153%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003400	−0.176%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003408	+0.059%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003406	−0.004%	$312K	$125K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003424	+0.528%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003451	+1.321%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003439	+0.969%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003449	+1.262%	$97K	$159K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003417	+0.316%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003441	+1.028%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.920%	$576	—	100x	as long as short
Lighter 1000BONKlong	+0.0368%	1h	0.000003406	long leg	$354K	$475K	10x
Backpack kBONK_USDC_PERP	+0.0431%	1h	0.000003440	+0.998%	$31K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0601%	1h	0.000003408	+0.059%	$9.7M	$7.3M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0622%	1h	0.000003444	+1.116%	$2K	$110K	10x
Kraken Futures PF_BONKUSD	+0.1445%	1h	0.000003448	+1.243%	$215K	$165K	50x	as long as short