Funding arb · Price arb /

BONK

all BONK markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.011%

Price spread now: Lighter against MEXC+0.089%7-day average +0.031% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.089%, 7d avg +0.031%

Together, before fees+0.165%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.058% dearer against MEXC than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC 1000BONK_USDT	0.000003382	0.0100	pay 0.0050% / 4h	42m 10s	$9.8M	$6.7M	125x
Short	Lighter 1000BONK	0.000003385	0.0096	get 0.0012% / 1h	42m 10s	$189K	$299K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$0.84
Price spread: +0.089% → +0.031%: $5.82
Slippage, 4 orders: −$26.12
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$21.14
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Lighter: live order book, 18 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 MEXC live order book, 1 min ago	1.48 bp	3.5 bp −$3	12.4 bp −$124	82.9 bp −$8,288	136.9 bp −$68.5K
Sell Lighter live order book, 18 min ago	2.95 bp	9.4 bp −$9	41.3 bp −$413	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	−0.0456%	1h	0.000003342	−1.183%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003386	+0.118%	$1.0M	$13.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0080%	4h	0.000003383	+0.030%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003383	+0.027%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003389	+0.194%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003382	0.000%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.193%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003384	+0.061%	$4	—	15x	as long as short
Lighter 1000BONKshort	+0.0096%	1h	0.000003385	+0.089%	$189K	$299K	10x
Nado kBONK-PERP	+0.0100%	1h	0.000003383	+0.044%	$19K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003384	+0.064%	$65K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003386	+0.118%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003388	+0.171%	$15.4M	$52.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003387	+0.160%	$10.3M	$16.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003384	+0.059%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003385	+0.089%	$734K	$2.6M	50x	as long as short
MEXC 1000BONK_USDTlong	+0.0100%	4h	0.000003382	long leg	$9.8M	$6.7M	125x
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003383	+0.030%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003385	+0.089%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003382	0.000%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003408	+0.771%	$306K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003408	+0.769%	$58K	$700K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003392	+0.296%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003383	+0.030%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003391	+0.266%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003382	−0.003%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003380	−0.059%	$4K	—	3x	as long as short
Backpack kBONK_USDC_PERP	+0.0182%	1h	0.000003385	+0.089%	$30K	$7K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−11.295%	$566	—	100x	as long as short
Hyperliquid kBONK	+0.1296%	1h	0.000003392	+0.296%	$10.2M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1446%	1h	0.000003388	+0.184%	$207K	$150K	50x	as long as short