BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0108%/8h= −11.8% APRnext payment −$0.13 per $10,000 · paid last 24h −0.008%

Price spread now: Pacifica against Lighter+0.084%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$720.720% of the position

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.041%−$4 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.084%, 7d avg −0.028%

Together, before fees−0.152%+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.112% dearer against Lighter than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of −0.028%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 7 days (−0.041% in total) that is about 19 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000BONK	0.000003587	0.0208	pay 0.0026% / 1h	3m 12s	$252K	$750K	10x
Short	Pacifica kBONK	0.000003590	0.0100	get 0.0013% / 1h	3m 12s	$119K	$139K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.084%Rate

Funding earned: −$22.68
Price spread: +0.084% → −0.028%: $11.19
Slippage, 4 orders: −$63.95
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$83.44
Costs to cover: 0.720%
Break-even: never at this rate

Slippage from Lighter: live order book, 22 min ago; Pacifica: live order book, 39 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, 22 min ago	4.13 bp	15.4 bp −$15	40.4 bp −$404	doesn't fit	doesn't fit
Sell Pacifica live order book, 39 min ago	6.89 bp	17.5 bp −$17	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	−0.0016%	1h	0.000003575	−0.335%	$45K	$63K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003589	+0.064%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003588	+0.028%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.726%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003583	−0.114%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0099%	4h	0.000003586	−0.028%	$1.1M	$19.6M	75x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003585	−0.042%	$62K	$128K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003587	−0.013%	$60K	$311K	10x	as long as short
Pacifica kBONKshort	+0.0100%	1h	0.000003590	+0.084%	$119K	$139K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003582	−0.150%	$18.5M	$82.5M	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	0.000003579	−0.223%	$12.3M	$25.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003581	−0.167%	$2.9M	$14.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003585	−0.056%	$978K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003581	−0.167%	$12.3M	$9.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003583	−0.112%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003578	−0.251%	$4.6M	$4.9M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003581	−0.167%	—	$5.0M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003594	+0.192%	$338K	$156K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003586	−0.028%	$60K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003582	−0.139%	$31K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003588	+0.028%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003583	−0.112%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003590	+0.084%	$102K	$132K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003581	−0.154%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003579	−0.223%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−16.365%	$547	—	100x	as long as short
Lighter 1000BONKlong	+0.0208%	1h	0.000003587	long leg	$252K	$750K	10x
Deribit 1000BONK_USDC-PERPETUAL	+0.0309%	1h	0.000003582	−0.139%	$35K	$176K	10x	as long as short
Hyperliquid kBONK	+0.1298%	1h	0.000003591	+0.112%	$12.3M	$8.0M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1625%	1h	0.000003587	0.000%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.3003%	1h	0.000003596	+0.241%	$222K	$223K	50x	as long as short