BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1311%/8h= +143.5% APRnext payment +$1.64 per $10,000 · paid last 24h +0.160%

Price spread now: Kraken Futures against Deribit+0.220%7-day average +0.124% · 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−$89as in the Price arb table

costs, in and out, $10k−$980.985% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)+1.021%+$102 on $10k

Price spread, last 3 days (all we have)−0.059%−$6 · spread now +0.220%, 7d avg +0.124%

Together, before fees+0.962%+$96 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$39 a day on $10k at the current rate, and Kraken Futures is 0.096% dearer against Deribit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.124%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000BONK_USDC-PERPETUAL	0.000003352	−0.0346	get 0.0043% / 1h	27m 08s	$2K	$110K	10x
Short	Kraken Futures PF_BONKUSD	0.000003359	0.0964	get 0.0121% / 1h	27m 08s	$204K	$149K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Deribit. 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 DeribitbpFee Kraken FuturesbpOrdersPrice spread, now +0.220%Rate

Funding earned: $275.22
Price spread: +0.220% → +0.124%: $9.6
Slippage, 4 orders: −$81.46
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $186.36
Costs to cover: 0.985%
Break-even: 2.3 days

Slippage from Deribit: live order book, 22 min ago; Kraken Futures: live order book, 55 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 Deribit live order book, 22 min ago	7.46 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 55 min ago	20.70 bp	39.0 bp −$39	74.9 bp −$749	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
Deribit 1000BONK_USDC-PERPETUALlong	−0.0346%	1h	0.000003352	long leg	$2K	$110K	10x
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003342	−0.298%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003355	+0.089%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0079%	4h	0.000003355	+0.089%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003352	0.000%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003353	+0.017%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.327%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003350	−0.058%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003356	+0.119%	$189K	$300K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003354	+0.075%	$19K	$106K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003357	+0.153%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003351	−0.030%	$113K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003355	+0.093%	$15.1M	$51.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003354	+0.060%	$10.1M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003354	+0.060%	$2.4M	$7.7M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003350	−0.060%	$741K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003356	+0.119%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003354	+0.045%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003349	−0.089%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003354	+0.060%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003354	+0.060%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003352	+0.002%	$301K	$121K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003353	+0.030%	$57K	$700K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003359	+0.209%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003355	+0.089%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003352	+0.012%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003354	+0.060%	$4K	—	3x	as long as short
HTX BONK-USDT	+0.0111%	4h	0.000003360	+0.239%	$91K	$150K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.501%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0917%	1h	0.000003361	+0.268%	$10.1M	$7.4M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.0964%	1h	0.000003359	+0.220%	$204K	$149K	50x