BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0527%/8h= +57.7% APRnext payment +$0.66 per $10,000 · paid last 24h +0.097%

Price spread now: Hyperliquid against Pacifica+0.059%7-day average +0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Pacifica Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.059%, 7d avg +0.105%

Together, before fees+0.214%+ Points / potential airdropPacifica: Active · Hyperliquid: Season 2 · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.046% cheaper against Pacifica than usual: you would sell low and buy high (spread +0.059% now, against its 7-day average of +0.105%). If the spread goes back, that is −$5 on $10k: about 7 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.204% in total) that is about 38 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.204% in total (about 10.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.66 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	Pacifica kBONK	0.000003398	0.0100	pay 0.0013% / 1h	45m 45s	$114K	$115K	10x
Short	Hyperliquid kBONK	0.000003400	0.0627	get 0.0078% / 1h	45m 45s	$10.0M	$5.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Pacifica. 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 PacificabpFee HyperliquidbpOrdersPrice spread, now +0.059%Rate

Funding earned: $110.72
Price spread: +0.059% → +0.105%: −$4.57
Slippage, 4 orders: −$37.72
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $51.44
Costs to cover: 0.547%
Break-even: 3.7 days

Slippage from Pacifica: live order book, 17 min ago; Hyperliquid: live order book, 7 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 Pacifica live order book, 17 min ago	4.35 bp	15.2 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	2.91 bp	13.3 bp −$13	29.3 bp −$293	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	−0.0336%	1h	0.000003381	−0.500%	$46K	$31K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003390	−0.235%	—	$15.1M	75x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003398	+0.011%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003393	−0.153%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.649%	$3K	$113	5.5x	as long as short
Orderly PERP_1000BONK_USDC	+0.0040%	4h	0.000003391	−0.206%	$29K	$58K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003393	−0.149%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003399	+0.029%	$224K	$670K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003391	−0.206%	$27K	$101K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003395	−0.084%	$79K	$256K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONKlong	+0.0100%	1h	0.000003398	long leg	$114K	$115K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003397	−0.024%	$15.9M	$56.9M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003398	−0.009%	$10.8M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003403	+0.147%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003394	−0.118%	$847K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003394	−0.118%	$9.8M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003399	+0.035%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003400	+0.059%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003402	+0.118%	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003395	−0.088%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003392	−0.165%	$308K	$133K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003394	−0.118%	$57K	$707K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003399	+0.029%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003392	−0.177%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003401	+0.088%	$96K	$119K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003401	+0.092%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003389	−0.265%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.713%	$567	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0339%	1h	0.000003395	−0.088%	$2K	$110K	10x	as long as short
Hyperliquid kBONKshort	+0.0627%	1h	0.000003400	+0.059%	$10.0M	$5.3M	10x
Kraken Futures PF_BONKUSD	+0.2043%	1h	0.000003401	+0.087%	$220K	$174K	50x	as long as short