BONK

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Binance1000BONKUSDT	0.000003708	+0.0100	pay 0.0050% / 4h	3h 35m	$18.1M	$54.2M	75x	Long Binance
SHORT	PhoenixkBONK	0.000003703	−0.0325	pay 0.0041% / 1h	35m 04s	$108K	$180K	10x	Short Phoenix

Price gap−0.135%

Funding gap−0.0425% /8h

Both sides work against this direction now: funding costs $13 a day on $10k and the gap is 0.161% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding−$74−0.0425% /8h now · paid −0.735% over the last 6 days (all we have)

Price−$16spread −0.135% now, avg +0.026% → −0.161% if it goes back

Costs−$950.950% of $10k · taker + slippage, in and out

Result−$185−1.85%no pointsWhat the last 7D really paid, hour by hour → backtest

Funding history

you earnyou payavg

RANGE STATS · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Phoenix price against Binancenow

RANGE STATS · 7D

Now−0.135%

Average—

Range—

Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

BONK on 31 exchanges

lowest funding first

Before you open

0 ok · 5 to watch

Watch: Thin at this size12.6 / 33.4 bp
At $10k entering Phoenix costs 33.4 bp, fee and slippage, 2.7× Binance’s.
Note: Margin at max leverage$133 + $1,000
Binance 75x, Phoenix 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ4h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$12.75Long Binance: 6 payments, −$3.00; short Phoenix: 24 payments, −$9.75.
Watch: Gap narrower than usual−0.135% vs +0.026%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Watch: Short leg is thinner$108K vs $18.1M OI
Phoenix sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCBinance Yes · Phoenix No
Verified KYC to deposit or trade; futures accounts under 30 days old are capped at 20x.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned−0.0407%/8h × 21 periods−$85.53

Price spread−0.135% → +0.026% (7d avg)−$16.11

Slippage, 4 orderslive order books−$77.99

Fee Binance bp × 2 orders−$10.00

Fee Phoenix bp × 2 orders−$7.00

Net · 7 days · $10k−$196.64

Costs to cover0.950%Break-evennever at this rate

Slippage: Binance: live order book, 12 min ago; Phoenix: live order book, 8 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGBinance1.3512.6 bp−$1326.8 bp−$268168.1 bp−$16.8Kdoesn’t fit

SELL · SHORTPhoenix5.4033.4 bp−$33116.0 bp−$1,160doesn’t fitdoesn’t fit

Closing costs about the same again.

BONK news

posts that mention BONK, from every exchangeSearch all news →

09-24 20:40	Phoenix	Listing	Now live: $Bonk - 10x leverage. The coin that started it all is now available on Phoenix. @PhoenixTrade on X ↗
09-24 15:00	Phoenix	Listing	new market kBONK ($BONK) seen by our collector
09-22 07:03	ApeX Omni	Other	59 up, 26 down on the ApeX board, median name +2.5%. Memecoins swept it: ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 +25.9%, $BONK +20.5%, $WIF +20.1%, with $TAO +18.2%. $AR -15.0% is the only real casualty. This is what a short squeeze looks like on day two. @OfficialApeXdex on X ↗