BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0308%/8h= +33.7% APRnext payment +$0.39 per $10,000 · paid last 24h +0.031%

Price spread now: Lighter against Nado+0.251%7-day average +0.025% · 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−$27as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on Nado Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.029%+$3 on $10k

Price spread, last 3 days (all we have)−0.495%−$50 · spread now +0.251%, 7d avg +0.025%

Together, before fees−0.467%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Lighter is 0.226% dearer against Nado than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.025%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.029% in total (about 3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kBONK-PERP	0.000003386	0.0100	pay 0.0012% / 1h	2m 05s	$23K	$105K	10x
Short	Lighter 1000BONK	0.000003395	0.0408	get 0.0051% / 1h	2m 05s	$353K	$475K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Nado. 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 NadobpFee LighterbpOrdersPrice spread, now +0.251%Rate

Funding earned: $64.68
Price spread: +0.251% → +0.025%: $22.56
Slippage, 4 orders: −$42.33
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $37.9
Costs to cover: 0.493%
Break-even: 2.9 days

Slippage from Nado: live order book, 70 min ago; Lighter: live order book, 54 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 Nado live order book, 70 min ago	2.99 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 54 min ago	1.48 bp	10.7 bp −$11	34.7 bp −$347	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	0.000003388	+0.044%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003388	+0.044%	$921K	$14.7M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0030%	4h	0.000003389	+0.074%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003395	+0.262%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003389	+0.065%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.322%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0045%	1h	0.000003390	+0.103%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003388	+0.058%	$4	—	15x	as long as short
Nado kBONK-PERPlong	+0.0100%	1h	0.000003386	long leg	$23K	$105K	10x
Aster 1000BONKUSDT	+0.0100%	4h	0.000003393	+0.190%	$65K	$252K	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	0.000003397	+0.310%	$113K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003390	+0.090%	$15.7M	$54.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003388	+0.059%	$10.7M	$17.4M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003388	+0.044%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003388	+0.044%	$724K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003389	+0.074%	$9.9M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003388	+0.059%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003385	−0.044%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003390	+0.103%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003406	+0.572%	$312K	$125K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003415	+0.842%	$58K	$709K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003396	+0.281%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003387	+0.015%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003419	+0.960%	$96K	$159K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003388	+0.051%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003388	+0.044%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.413%	$566	—	100x	as long as short
Lighter 1000BONKshort	+0.0408%	1h	0.000003395	+0.251%	$353K	$475K	10x
Backpack kBONK_USDC_PERP	+0.0428%	1h	0.000003390	+0.103%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0595%	1h	0.000003393	+0.192%	$9.7M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1466%	1h	0.000003397	+0.313%	$212K	$165K	50x	as long as short