BONK

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	PhoenixkBONK	0.000003717	−0.0315	get 0.0039% / 1h	10m 28s	$102K	$89K	10x	Long Phoenix
SHORT	HyperliquidkBONK	0.000003737	+0.0983	get 0.0123% / 1h	10m 28s	$18.2M	$7.1M	10x	Short Hyperliquid4% off

Price gap+0.538%

Funding gap+0.1298% /8h

Both sides work: funding pays +$39 a day on $10k, and the gap is 0.538% above zero (no 7-day history yet): +$54 more if it goes back.

If you open now and hold

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

Funding—+0.1298% /8h now · no funding history yet

Price—spread +0.538% now · no price history on both exchanges yet

Costs−$820.822% of $10k · taker + slippage, in and out

Result—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds 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

Hyperliquid price against Phoenixnow

RANGE STATS · 7D

Now+0.538%

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

3 ok · 2 to watch

Watch: Thin at this size26.0 / 10.0 bp
At $10k entering Phoenix costs 26.0 bp, fee and slippage, 2.6× Hyperliquid’s.
Note: Margin at max leverage$1,000 + $1,000
Phoenix 10x, Hyperliquid 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: +$38.94Long Phoenix: 24 payments, +$9.44; short Hyperliquid: 24 payments, +$29.50.
Note: No 7-day spread history+0.538%
The gap cannot be compared with its average yet.
Watch: Long leg is thinner$102K vs $18.2M OI
Phoenix sets your exit cost. Check its book before closing.
OK: Points on a legHyperliquid Season 2
Volume here counts toward the points program.
OK: No KYC on either legPhoenix No · Hyperliquid No
Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earnedno history yet: current rate+$272.58

Price spread+0.538% → 0+$53.81

Slippage, 4 orderslive order books−$66.15

Fee Phoenix bp × 2 orders−$7.00

Fee Hyperliquid bp × 2 orders−$9.00

Net · 7 days · $10k+$244.23

Costs to cover0.822%Break-even0.7 days

Slippage: Phoenix: live order book, 37 min ago; Hyperliquid: live order book, 2 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGPhoenix2.6226.0 bp−$2687.0 bp−$870doesn’t fitdoesn’t fit

SELL · SHORTHyperliquid4.0310.0 bp−$1023.8 bp−$238doesn’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 ↗