Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.007%

Price spread now: KuCoin against Lighter−0.058%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$780.777% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.058%, 7d avg +0.005%

Together, before fees0.000%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and KuCoin is 0.063% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000BONK	0.000003614	0.0272	pay 0.0034% / 1h	51m 29s	$252K	$738K	10x
Short	KuCoin 1000BONKUSDTM	0.000003612	0.0100	get 0.0050% / 4h	1h 51m	$2.9M	$10.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$36.12
Price spread: −0.058% → +0.005%: −$6.35
Slippage, 4 orders: −$65.73
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$120.2
Costs to cover: 0.777%
Break-even: never at this rate

Slippage from Lighter: live order book, 39 min ago; KuCoin: live order book, 7 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, 39 min ago	1.42 bp	18.2 bp −$18	37.3 bp −$373	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	2.73 bp	28.3 bp −$28	131.7 bp −$1,317	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	−0.0016%	1h	0.000003606	−0.221%	$44K	$52K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003611	−0.072%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003616	+0.058%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−9.408%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0041%	4h	0.000003620	+0.166%	$1.1M	$18.9M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003623	+0.247%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003616	+0.055%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003620	+0.166%	$61K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003612	−0.055%	$121K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003619	+0.127%	$18.6M	$76.7M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003620	+0.166%	$12.3M	$23.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003624	+0.277%	$3.0M	$13.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003612	−0.055%	$995K	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003611	−0.083%	$11.0M	$8.6M	125x	as long as short
KuCoin 1000BONKUSDTMshort	+0.0100%	4h	0.000003612	−0.058%	$2.9M	$10.7M	75x
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003618	+0.111%	$4.6M	$4.3M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003611	−0.083%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003608	−0.170%	$335K	$142K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003624	+0.277%	$61K	$705K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003617	+0.083%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003623	+0.249%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003618	+0.111%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003620	+0.166%	$103K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003612	−0.068%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003614	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−16.989%	$399	—	100x	as long as short
Lighter 1000BONKlong	+0.0272%	1h	0.000003614	long leg	$252K	$738K	10x
Deribit 1000BONK_USDC-PERPETUAL	+0.0303%	1h	0.000003619	+0.138%	$20K	$155K	10x	as long as short
Hyperliquid kBONK	+0.1272%	1h	0.000003619	+0.138%	$12.0M	$7.3M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1696%	1h	0.000003624	+0.277%	$56K	$24K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2973%	1h	0.000003632	+0.500%	$224K	$219K	50x	as long as short