BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1812%/8h= +198.4% APRnext payment +$2.26 per $10,000 · paid last 24h +0.178%

Price spread now: Backpack against Coinbase International+0.084%52s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$54 a day on $10k at the current rate, and Backpack is 0.084% dearer against Coinbase International than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000BONK-PERP-INTX	0.000003581	−0.0312	get 0.0039% / 1h	13m 20s	$45K	$42K	50x
Short	Backpack kBONK_USDC_PERP	0.000003584	0.1500	get 0.0187% / 1h	13m 20s	$49K	$16K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now +0.084%Rate

Funding earned: $380.47
Price spread: +0.084% → 0.000%: $8.38
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $368.85
Costs to cover: 0.200%
Break-even: 0.2 days

Slippage unknown: Coinbase International: no order-book sample; Backpack: no order-book sample. Net counts fees only.

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 Coinbase International no order-book sample	—	—	—	—	—
Sell Backpack no order-book sample	—	—	—	—	—

Coinbase International and Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-INTXlong	−0.0312%	1h	0.000003581	long leg	$45K	$42K	50x
dYdX BONK-USD	0.0000%	1h	0.000003580	−0.028%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003581	+0.014%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−8.573%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0082%	4h	0.000003581	0.000%	$31K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003578	−0.086%	$4	—	15x	as long as short
BloFin 1000BONK-USDT	+0.0088%	4h	0.000003580	−0.028%	$1.0M	$17.1M	75x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003576	−0.140%	$43K	$110K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003585	+0.112%	$83K	$259K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003581	0.000%	$122K	$110K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003582	+0.028%	$18.1M	$65.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003581	+0.011%	$11.7M	$20.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003586	+0.140%	$2.7M	$10.5M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003578	−0.084%	$903K	$2.8M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003580	−0.028%	$10.0M	$7.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003580	−0.042%	$3.0M	$10.1M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003583	+0.056%	$4.6M	$3.4M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003580	−0.028%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003540	−1.134%	$328K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003531	−1.396%	$59K	$706K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003593	+0.335%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003588	+0.195%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003590	+0.251%	$102K	$121K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003584	+0.097%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003580	−0.028%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−16.225%	$395	—	100x	as long as short
Lighter 1000BONK	+0.0200%	1h	0.000003587	+0.168%	$250K	$695K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0587%	1h	0.000003587	+0.168%	$6K	$123K	10x	as long as short
Hyperliquid kBONK	+0.0925%	1h	0.000003587	+0.168%	$11.8M	$5.8M	10x	as long as short
Backpack kBONK_USDC_PERPshort	+0.1500%	1h	0.000003584	+0.084%	$49K	$16K	10x
Kraken Futures PF_BONKUSD	+0.2336%	1h	0.000003595	+0.388%	$229K	$176K	50x	as long as short