Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0268%/8h= −29.3% APRpaid last 24h 0.000%

Price spread now: SunX against Lighter+0.088%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. SunX is 0.088% dearer against Lighter than usual: you sell high and buy low (spread +0.088% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000BONK	0.000003396	0.0368	pay 0.0046% / 1h	2m 50s	$353K	$475K	10x
Short	SunX BONK-USDT	0.000003399	0.0100	get 0.0050% / 4h	3h 02m	$2K	$12K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.088%Rate

Funding earned: −$56.28
Price spread: +0.088% → 0.000%: $8.83
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$55.45
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Lighter: live order book, 53 min ago; SunX: no order-book sample. Net counts fees only.

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, 53 min ago	1.48 bp	10.0 bp −$10	27.5 bp −$275	doesn't fit	doesn't fit
Sell SunX no order-book sample	—	—	—	—	—

SunX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.000003405	+0.265%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003388	−0.236%	$921K	$14.7M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0031%	4h	0.000003396	0.000%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003400	+0.131%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003394	−0.059%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003394	−0.065%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.592%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003394	−0.061%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003397	+0.044%	$23K	$105K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003395	−0.032%	$65K	$251K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003401	+0.147%	$113K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003398	+0.051%	$15.8M	$54.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003399	+0.091%	$10.7M	$17.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003399	+0.088%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003395	−0.029%	$725K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003393	−0.088%	$9.9M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003393	−0.082%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003396	0.000%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003400	+0.118%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003406	+0.291%	$312K	$125K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003415	+0.559%	$58K	$709K	25x	as long as short
SunX BONK-USDTshort	+0.0100%	4h	0.000003399	+0.088%	$2K	$12K	20x
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003395	−0.029%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003419	+0.677%	$96K	$159K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003396	−0.008%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003397	+0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.661%	$567	—	100x	as long as short
Lighter 1000BONKlong	+0.0368%	1h	0.000003396	long leg	$353K	$475K	10x
Backpack kBONK_USDC_PERP	+0.0426%	1h	0.000003392	−0.118%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0599%	1h	0.000003403	+0.206%	$9.7M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1464%	1h	0.000003404	+0.225%	$212K	$165K	50x	as long as short