BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0431%/8h= −47.2% APRnext payment −$0.54 per $10,000 · paid last 24h −0.094%

Price spread now: Backpack against Hyperliquid−0.059%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid 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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Backpack is 0.059% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid kBONK	0.000003407	0.0733	pay 0.0092% / 1h	32m 25s	$10.0M	$4.8M	10x
Short	Backpack kBONK_USDC_PERP	0.000003405	0.0302	get 0.0038% / 1h	32m 25s	$30K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Hyperliquid. 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 HyperliquidbpFee BackpackbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$90.61
Price spread: −0.059% → 0.000%: −$5.87
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$115.48
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; 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 Hyperliquid live order book, 10 min ago	2.98 bp	14.2 bp −$14	31.0 bp −$310	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

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-INTX	−0.0320%	1h	0.000003363	−1.291%	$43K	$33K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003392	−0.430%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003396	−0.332%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.904%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0056%	4h	0.000003401	−0.176%	$963K	$15.3M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0073%	4h	0.000003398	−0.264%	$29K	$56K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003400	−0.207%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003399	−0.235%	$226K	$668K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003397	−0.279%	$78K	$250K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003397	−0.294%	$113K	$108K	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	0.000003400	−0.198%	$16.5M	$59.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003398	−0.264%	$10.7M	$18.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003401	−0.176%	$2.5M	$8.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003394	−0.382%	$799K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003399	−0.235%	$9.2M	$7.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003399	−0.244%	$2.6M	$9.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003397	−0.294%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003400	−0.205%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003365	−1.235%	$307K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003374	−0.969%	$57K	$707K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003401	−0.176%	$31K	$100K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003403	−0.117%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003402	−0.147%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003409	+0.059%	$97K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003400	−0.216%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003397	−0.294%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.946%	$567	—	100x	as long as short
Backpack kBONK_USDC_PERPshort	+0.0302%	1h	0.000003405	−0.059%	$30K	$7K	10x
Hyperliquid kBONKlong	+0.0733%	1h	0.000003407	long leg	$10.0M	$4.8M	10x
Deribit 1000BONK_USDC-PERPETUAL	+0.0928%	1h	0.000003400	−0.205%	$2K	$110K	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2475%	1h	0.000003406	−0.038%	$220K	$177K	50x	as long as short