BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1043%/8h= −114.2% APRnext payment −$1.30 per $10,000 · paid last 24h −0.011%

Price spread now: Pacifica against Kraken Futures+0.061%7-day average −0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$920.916% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.416%−$42 on $10k

Price spread, last 3 days (all we have)+0.144%+$14 · spread now +0.061%, 7d avg −0.104%

Together, before fees−0.272%+ Points / potential airdropPacifica: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.165% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of −0.104%): +$16 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.416% in total) that is about 2.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.416% in total (about -21.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.30 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	0.000003361	0.1143	pay 0.0143% / 1h	28m 29s	$204K	$159K	50x
Short	Pacifica kBONK	0.000003363	0.0100	get 0.0013% / 1h	28m 29s	$115K	$117K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.061%Rate

Funding earned: −$219.02
Price spread: +0.061% → −0.104%: $16.49
Slippage, 4 orders: −$73.56
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$294.09
Costs to cover: 0.916%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 59 min ago; Pacifica: live order book, 59 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, 59 min ago	11.77 bp	31.8 bp −$32	109.1 bp −$1,091	doesn't fit	doesn't fit
Sell Pacifica live order book, 59 min ago	4.42 bp	16.9 bp −$17	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	−0.0320%	1h	0.000003356	−0.148%	$43K	$21K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003360	−0.029%	$1.0M	$13.2M	75x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0048%	1h	0.000003358	−0.088%	$2K	$110K	10x	as long as short
Orderly PERP_1000BONK_USDC	−0.0042%	4h	0.000003357	−0.118%	$29K	$41K	20x	as long as short
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003364	+0.082%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003358	−0.098%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.587%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003363	+0.072%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003365	+0.120%	$199K	$289K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003361	+0.016%	$20K	$104K	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	−0.066%	$64K	$252K	10x	as long as short
Pacifica kBONKshort	+0.0100%	1h	0.000003363	+0.061%	$115K	$117K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003364	+0.090%	$15.1M	$50.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003359	−0.052%	$10.2M	$16.3M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003363	+0.061%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003359	−0.058%	$737K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003363	+0.061%	$10.2M	$6.6M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003361	−0.014%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003361	+0.001%	$4.2M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003359	−0.058%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003358	−0.088%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003353	−0.226%	$302K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003361	+0.001%	$57K	$693K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003361	+0.001%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003357	−0.118%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003359	−0.058%	$79K	$118K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003363	+0.065%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003357	−0.118%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.740%	$561	—	100x	as long as short
Hyperliquid kBONK	+0.0733%	1h	0.000003371	+0.299%	$9.9M	$7.0M	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.1143%	1h	0.000003361	long leg	$204K	$159K	50x