BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1364%/8h= +149.4% APRnext payment +$1.70 per $10,000 · paid last 24h +0.065%

Price spread now: Kraken Futures against ApeX Omni+0.352%75s7-day average +0.133% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$900.897% of the position

Long on ApeX Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.529%+$53 on $10k

Price spread, last 3 days (all we have)−0.086%−$9 · spread now +0.352%, 7d avg +0.133%

Together, before fees+0.444%+$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$41 a day on $10k at the current rate, and Kraken Futures is 0.219% dearer against ApeX Omni than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.133%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.529% in total (about 27.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.70 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	ApeX Omni 1000BONKUSDT	0.000003391	0.0100	pay 0.0013% / 1h	36m 06s	$57K	$705K	25x
Short	Kraken Futures PF_BONKUSD	0.000003403	0.1464	get 0.0183% / 1h	36m 06s	$208K	$156K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against ApeX Omni. 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 ApeX OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.352%Rate

Funding earned: $286.43
Price spread: +0.352% → +0.133%: $21.91
Slippage, 4 orders: −$69.68
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $218.66
Costs to cover: 0.897%
Break-even: 1.7 days

Slippage from ApeX Omni: live order book, 37 min ago; Kraken Futures: live order book, 36 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 ApeX Omni live order book, 37 min ago	8.96 bp	17.2 bp −$17	108.5 bp −$1,085	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 36 min ago	17.88 bp	26.7 bp −$27	73.4 bp −$734	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	0.000003384	−0.206%	$43K	$24K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003396	+0.147%	$1.0M	$14.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0056%	4h	0.000003393	+0.059%	$29K	$39K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003396	+0.159%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003395	+0.131%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003394	+0.088%	$2K	$110K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.450%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003395	+0.117%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003397	+0.177%	$18K	$104K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003395	+0.113%	$65K	$253K	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	0.000003396	+0.147%	$114K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003399	+0.238%	$15.5M	$53.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003399	+0.245%	$10.6M	$17.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003397	+0.177%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003395	+0.118%	$727K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003395	+0.118%	$9.9M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003395	+0.109%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003395	+0.118%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003395	+0.118%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003396	+0.147%	$305K	$119K	—	as long as short
ApeX Omni 1000BONKUSDTlong	+0.0100%	1h	0.000003391	long leg	$57K	$705K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003401	+0.295%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003397	+0.177%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003410	+0.560%	$93K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003396	+0.141%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003392	+0.029%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.531%	$567	—	100x	as long as short
Lighter 1000BONK	+0.0264%	1h	0.000003401	+0.295%	$312K	$420K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0305%	1h	0.000003399	+0.236%	$30K	$7K	10x	as long as short
Hyperliquid kBONK	+0.0632%	1h	0.000003404	+0.383%	$10.1M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.1464%	1h	0.000003403	+0.352%	$208K	$156K	50x