BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1088%/8h= −119.2% APRnext payment −$1.36 per $10,000 · paid last 24h −0.095%

Price spread now: Nado against Hyperliquid−0.267%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on Hyperliquid Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.206%−$21 on $10k

Price spread, last 3 days (all we have)+0.445%+$45 · spread now −0.267%, 7d avg −0.100%

Together, before fees+0.239%+ Points / potential airdropHyperliquid: Season 2 · Nado: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$33 a day on $10k at the current rate, and Nado is 0.168% cheaper against Hyperliquid than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.100%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.206% in total (about -23.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.36 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	Hyperliquid kBONK	0.000003365	0.1188	pay 0.0149% / 1h	8m 12s	$10.2M	$7.3M	10x
Short	Nado kBONK-PERP	0.000003356	0.0100	get 0.0012% / 1h	8m 12s	$19K	$106K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.267%Rate

Funding earned: −$228.51
Price spread: −0.267% → −0.100%: −$16.8
Slippage, 4 orders: −$32.38
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$293.69
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Nado: live order book, 4 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 Hyperliquid live order book, 4 min ago	1.49 bp	10.3 bp −$10	37.0 bp −$370	doesn't fit	doesn't fit
Sell Nado live order book, 4 min ago	2.99 bp	13.4 bp −$13	doesn't fit	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	−0.0456%	1h	0.000003344	−0.624%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003354	−0.327%	$1.0M	$13.8M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0064%	4h	0.000003354	−0.327%	$29K	$40K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003356	−0.256%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003355	−0.282%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.704%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0048%	1h	0.000003357	−0.238%	$2K	$110K	10x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003357	−0.252%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003358	−0.208%	$200K	$311K	10x	as long as short
Nado kBONK-PERPshort	+0.0100%	1h	0.000003356	−0.267%	$19K	$106K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003354	−0.313%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003357	−0.238%	$113K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003356	−0.273%	$15.2M	$52.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003354	−0.333%	$10.3M	$16.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003358	−0.208%	$2.4M	$7.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003353	−0.357%	$715K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003356	−0.267%	$9.8M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003355	−0.309%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003354	−0.327%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003353	−0.357%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003358	−0.208%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003344	−0.624%	$300K	$119K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003352	−0.386%	$56K	$702K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003361	−0.119%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003356	−0.267%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003365	0.000%	$92K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003356	−0.257%	$22K	$3K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003349	−0.475%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.847%	$561	—	100x	as long as short
Hyperliquid kBONKlong	+0.1188%	1h	0.000003365	long leg	$10.2M	$7.3M	10x
Kraken Futures PF_BONKUSD	+0.1457%	1h	0.000003363	−0.057%	$205K	$150K	50x	as long as short