BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1042%/8h= −114.1% APRnext payment −$1.30 per $10,000 · paid last 24h −0.007%

Price spread now: Backpack against Kraken Futures−0.246%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures 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 against this trade now: funding costs −$31 a day on $10k at the current rate, and Backpack is 0.246% cheaper against Kraken Futures than usual: you would sell low and buy high (−$25 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	Kraken Futures PF_BONKUSD	0.000003363	0.1142	pay 0.0143% / 1h	32m 20s	$204K	$159K	50x
Short	Backpack kBONK_USDC_PERP	0.000003355	0.0100	get 0.0013% / 1h	32m 20s	$30K	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now −0.246%Rate

Funding earned: −$218.86
Price spread: −0.246% → 0.000%: −$24.56
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$263.42
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 55 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 Kraken Futures live order book, 55 min ago	11.77 bp	31.8 bp −$32	109.1 bp −$1,091	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
Deribit 1000BONK_USDC-PERPETUAL	−0.0643%	1h	0.000003355	−0.246%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0320%	1h	0.000003350	−0.394%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003356	−0.216%	$1.0M	$13.1M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0042%	4h	0.000003363	−0.008%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003360	−0.109%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003358	−0.160%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.654%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003361	−0.056%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003361	−0.067%	$198K	$288K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003359	−0.112%	$20K	$103K	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	0.000003359	−0.135%	$66K	$252K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003360	−0.097%	$115K	$116K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003360	−0.090%	$15.2M	$49.8M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003362	−0.043%	$10.2M	$16.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003362	−0.037%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003359	−0.127%	$739K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003360	−0.097%	$9.8M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003360	−0.097%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003358	−0.156%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003359	−0.127%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERPshort	+0.0100%	1h	0.000003355	−0.246%	$30K	$7K	10x
Variational Omni 1000BONK	+0.0100%	4h	0.000003371	+0.241%	$303K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003377	+0.409%	$57K	$693K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003360	−0.097%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003355	−0.246%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003372	+0.260%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003361	−0.064%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003355	−0.246%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.801%	$562	—	100x	as long as short
Hyperliquid kBONK	+0.0723%	1h	0.000003369	+0.171%	$9.9M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.1142%	1h	0.000003363	long leg	$204K	$159K	50x