BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.2865%/8h= −313.7% APRnext payment −$3.58 per $10,000 · paid last 24h −0.341%

Price spread now: ApeX Omni against Kraken Futures−0.300%75s7-day average −0.129% · you buy dearer than you sell

Net, funding: paid 7d − costs−$191as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1101.100% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.807%−$81 on $10k

Price spread, last 4 days (all we have)+0.993%+$99 · spread now −0.300%, 7d avg −0.129%

Together, before fees+0.186%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$86 a day on $10k at the current rate, and ApeX Omni is 0.171% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.129%). Swap the legs. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.807% in total (about -42.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.58 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	Kraken Futures PF_BONKUSD	0.000003501	0.2965	pay 0.0371% / 1h	35m 47s	$179K	$272K	50x
Short	ApeX Omni 1000BONKUSDT	0.000003491	0.0100	get 0.0013% / 1h	35m 47s	$59K	$700K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. 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 Kraken FuturesbpFee ApeX OmnibpOrdersPrice spread, now −0.300%Rate

Funding earned: −$601.63
Price spread: −0.300% → −0.129%: −$17.1
Slippage, 4 orders: −$89.97
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$728.69
Costs to cover: 1.100%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 62 min ago; ApeX Omni: live order book, 63 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 Kraken Futures live order book, 62 min ago	29.55 bp	45.9 bp −$46	159.6 bp −$1,596	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 63 min ago	7.02 bp	14.3 bp −$14	91.6 bp −$916	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	−0.0024%	1h	0.000003486	−0.442%	$42K	$66K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003490	−0.328%	$24	—	150x	as long as short
dYdX BONK-USD	+0.0017%	1h	0.000003495	−0.175%	$13K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−6.497%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003496	−0.158%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003495	−0.188%	$47K	$332K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003499	−0.071%	$116K	$163K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003492	−0.271%	$18.0M	$89.2M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003489	−0.357%	$12.4M	$27.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003491	−0.300%	$3.0M	$15.0M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BONK_USDT	+0.0100%	4h	0.000003492	−0.271%	$922K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003493	−0.242%	$11.4M	$10.0M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003492	−0.280%	$3.0M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003488	−0.385%	$4.5M	$5.4M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003491	−0.300%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003493	−0.245%	$328K	$94K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003491	−0.300%	$59K	$700K	25x
Nado kBONK-PERP	+0.0100%	1h	0.000003495	−0.200%	$70K	$136K	10x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003490	−0.328%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003505	+0.100%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003496	−0.157%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003501	−0.014%	$99K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003489	−0.355%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003490	−0.328%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0130%	4h	0.000003502	+0.015%	$1.1M	$20.1M	75x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−14.322%	$534	—	100x	as long as short
Lighter 1000BONK	+0.0320%	1h	0.000003499	−0.071%	$246K	$759K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0323%	1h	0.000003494	−0.214%	$34K	$164K	10x	as long as short
Hyperliquid kBONK	+0.0586%	1h	0.000003496	−0.157%	$12.0M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1821%	1h	0.000003499	−0.071%	$54K	$23K	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.2965%	1h	0.000003501	long leg	$179K	$272K	50x