BONK

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Kraken FuturesPF_BONKUSD	0.000003809	+0.0200	pay 0.0025% / 1h	38m 07s	$252K	$261K	50x	Long Kraken Futures
SHORT	PhoenixkBONK	0.000003828	−0.0315	pay 0.0039% / 1h	38m 07s	$124K	$89K	10x	Short Phoenix

Price gap+0.490%71s

Funding gap−0.0514% /8h

The gap pays +$49 on $10k if it goes back to zero (no 7-day history yet), but funding costs $15 a day and eats that in about 3.2 days.

The two prices were read 71 s apart: part of this gap may be the market moving.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding—−0.0514% /8h now · no funding history yet

Price—spread +0.490%71s now · prices read too far apart to compare

Costs−$1371.372% of $10k · taker + slippage, in and out

Result—no pointsneeds funding history

Funding history

you earnyou payavg

RANGE STATS · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Short leg rate minus long leg rate, per 8h. Above zero: the pair pays you.

Price spread between the two exchanges

Phoenix price against Kraken Futuresnow

RANGE STATS · 7D

Now+0.490%

Average—

Range—

Wider than now—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

BONK on 31 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

Watch: Thin at this size41.6 / 26.0 bp
At $10k entering Kraken Futures costs 41.6 bp, fee and slippage, 1.6× Phoenix’s.
Note: Margin at max leverage$200 + $1,000
Kraken Futures 50x, Phoenix 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
OK: Same payment interval1h / 1h
Both legs pay at the same time.
Next 24h at the current rates, on $10k a leg: −$15.43Long Kraken Futures: 24 payments, −$5.99; short Phoenix: 24 payments, −$9.44.
Watch: Prices read 71 s apart+0.490% vs —
Part of this gap may be the market moving.
Watch: Short leg is thinner$124K vs $252K OI
Phoenix sets your exit cost. Check its book before closing.
Note: No points program—
Neither exchange runs points right now.
Watch: KYCKraken Futures Yes · Phoenix No
Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earnedno history yet: current rate−$108.03

Price spreadprices read too far apart to compare—

Slippage, 4 orderslive order books−$120.19

Fee Kraken Futures bp × 2 orders−$10.00

Fee Phoenix bp × 2 orders−$7.00

Net · 7 days · $10k−$245.22

price spread not counted: prices read too far apart

Costs to cover1.372%Break-evennever at this rate

Slippage: Kraken Futures: live order book, 54 min ago; Phoenix: live order book, 10 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGKraken Futures30.5341.6 bp−$42139.3 bp−$1,393doesn’t fitdoesn’t fit

SELL · SHORTPhoenix2.6226.0 bp−$2690.1 bp−$901doesn’t fitdoesn’t fit

Closing costs about the same again.

BONK news

posts that mention BONK, from every exchangeSearch all news →

09-24 20:40	Phoenix	Listing	Now live: $Bonk - 10x leverage. The coin that started it all is now available on Phoenix. @PhoenixTrade on X ↗
09-24 15:00	Phoenix	Listing	new market kBONK ($BONK) seen by our collector
09-22 07:03	ApeX Omni	Other	59 up, 26 down on the ApeX board, median name +2.5%. Memecoins swept it: ethereum:0x6982508145454ce325ddbe47a25d4ec3d2311933 +25.9%, $BONK +20.5%, $WIF +20.1%, with $TAO +18.2%. $AR -15.0% is the only real casualty. This is what a short squeeze looks like on day two. @OfficialApeXdex on X ↗