BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0188%/8h= +20.6% APRnext payment +$0.24 per $10,000 · paid last 24h +0.002%

Price spread now: Lighter against Pacifica+0.088%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.088%, 7d avg +0.026%

Together, before fees−0.016%+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.062% dearer against Pacifica than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.026%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.045% in total (about 2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 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	Pacifica kBONK	0.000003396	0.0100	pay 0.0013% / 1h	31m 29s	$114K	$122K	10x
Short	Lighter 1000BONK	0.000003399	0.0288	get 0.0036% / 1h	31m 29s	$306K	$426K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Pacifica. 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 PacificabpFee LighterbpOrdersPrice spread, now +0.088%Rate

Funding earned: $39.48
Price spread: +0.088% → +0.026%: $6.21
Slippage, 4 orders: −$39.56
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$1.87
Costs to cover: 0.476%
Break-even: 7.3 days

Slippage from Pacifica: live order book, 41 min ago; Lighter: live order book, 24 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 Pacifica live order book, 41 min ago	5.97 bp	16.7 bp −$17	26.2 bp −$262	doesn't fit	doesn't fit
Sell Lighter live order book, 24 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	0.000003374	−0.648%	$43K	$24K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003376	−0.589%	$1.0M	$14.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0054%	4h	0.000003388	−0.236%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003388	−0.224%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003394	−0.045%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003381	−0.442%	$2K	$110K	10x	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	0.000003388	−0.236%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003390	−0.162%	$16K	$105K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003392	−0.124%	$65K	$262K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONKlong	+0.0100%	1h	0.000003396	long leg	$114K	$122K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003385	−0.312%	$15.4M	$53.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003384	−0.345%	$10.6M	$17.1M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003390	−0.177%	$2.5M	$7.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003390	−0.177%	$728K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003383	−0.383%	$9.9M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003394	−0.059%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003388	−0.236%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003387	−0.265%	—	$7.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003396	−0.001%	$305K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003379	−0.501%	$57K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003383	−0.383%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003385	−0.324%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003392	−0.118%	$93K	$152K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003394	−0.065%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003380	−0.471%	$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
Backpack kBONK_USDC_PERP	+0.0268%	1h	0.000003391	−0.147%	$30K	$7K	10x	as long as short
Lighter 1000BONKshort	+0.0288%	1h	0.000003399	+0.088%	$306K	$426K	10x
Hyperliquid kBONK	+0.0643%	1h	0.000003396	0.000%	$10.1M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1469%	1h	0.000003392	−0.133%	$207K	$156K	50x	as long as short