BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1497%/8h= −163.9% APRnext payment −$1.87 per $10,000 · paid last 24h −0.116%

Price spread now: Deribit against Backpack−0.082%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 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 −$45 a day on $10k at the current rate, and Deribit is 0.082% cheaper against Backpack than usual: you would sell low and buy high (−$8 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	Backpack kBONK_USDC_PERP	0.000003664	0.1793	pay 0.0224% / 1h	57m 40s	$49K	$18K	10x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003661	0.0297	get 0.0037% / 1h	57m 40s	$20K	$155K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Backpack. 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 BackpackbpFee DeribitbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$314.33
Price spread: −0.082% → 0.000%: −$8.19
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$339.52
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; Deribit: live order book, 16 min ago. 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 Backpack no order-book sample	—	—	—	—	—
Sell Deribit live order book, 16 min ago	8.39 bp	11.9 bp −$12	doesn't fit	doesn't fit	doesn't fit

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
Coinbase International 1000BONK-PERP-INTX	−0.0016%	1h	0.000003665	+0.027%	$45K	$53K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003668	+0.116%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003658	−0.153%	$25	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−10.644%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003668	+0.106%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003668	+0.123%	$51K	$119K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003659	−0.123%	$62K	$301K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003674	+0.273%	$123K	$133K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003653	−0.296%	$18.8M	$76.1M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003652	−0.328%	$12.4M	$23.6M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003660	−0.109%	$3.0M	$13.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003655	−0.246%	$1.0M	$3.2M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003656	−0.218%	$11.1M	$8.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003657	−0.205%	$3.0M	$10.7M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003657	−0.191%	$4.7M	$4.2M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003654	−0.273%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003633	−0.837%	$337K	$142K	—	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003658	−0.164%	$31K	$53K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003666	+0.055%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003660	−0.109%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003677	+0.355%	$105K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003661	−0.084%	$24K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003659	−0.136%	$4K	—	3x	as long as short
BloFin 1000BONK-USDT	+0.0119%	4h	0.000003662	−0.055%	$1.1M	$19.0M	75x	as long as short
ApeX Omni 1000BONKUSDT	+0.0188%	1h	0.000003641	−0.628%	$62K	$706K	25x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0194% / S −0.2801%	1h	0.000003000	−18.122%	$405	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUALshort	+0.0297%	1h	0.000003661	−0.082%	$20K	$155K	10x
Lighter 1000BONK	+0.0912%	1h	0.000003652	−0.328%	$254K	$734K	10x	as long as short
Hyperliquid kBONK	+0.1534%	1h	0.000003663	−0.027%	$12.2M	$7.1M	10x	as long as short
Backpack kBONK_USDC_PERPlong	+0.1793%	1h	0.000003664	long leg	$49K	$18K	10x
Kraken Futures PF_BONKUSD	+0.2940%	1h	0.000003673	+0.234%	$226K	$219K	50x	as long as short