BONK

Alert

Funding spread now, next payment 18:00 UTC+0.0816%/8h

next payment, per $10,000+$1.02paid, last 24h−0.044%paid, last 5 days+0.258%to open and closeno order book

Long on Backpack Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.258% in total (about 18.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.02 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	Backpack kBONK_USDC_PERP	0.000003292	0.0100	pay 0.0013% / 1h	59m 05s	$30K	$6K	10x
Short	Kraken Futures PF_BONKUSD	0.000003295	0.0916	get 0.0115% / 1h	59m 05s	$166K	$162K	50x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee Kraken FuturesbpOrdersRate

Funding earned: $171.38
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $151.38
Break-even: 0.8 days

Slippage unknown: Backpack: no order-book sample; Kraken Futures: live order book, 45 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.097%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Kraken Futures live order book, 45 min ago	26.64 bp	34.6 bp −$35	86.6 bp −$866	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.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective BONK/USDC PERP	−0.0694%	1h	$3K	$29K	5.5x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0488%	1h	$42K	$20K	50x	as long as short
Orderly PERP_1000BONK_USDC	−0.0203%	4h	$28K	$42K	20x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	$1.0M	$13.2M	75x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	−0.0054%	1h	$12K	$90K	10x	as long as short
dYdX BONK-USD	0.0000%	1h	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	$23	—	150x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	$20K	$102K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	$57K	$246K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	$111K	$110K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	$14.7M	$47.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	$9.8M	$15.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	$2.4M	$6.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	$700K	$2.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	$10.6M	$6.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	$2.8M	$9.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	$4.1M	$2.8M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	—	$6.5M	—	as long as short
Backpack kBONK_USDC_PERPlong	+0.0100%	1h	$30K	$6K	10x
Variational Omni 1000BONK	+0.0100%	4h	$293K	$164K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	$56K	$685K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	$77K	$109K	30x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0100% / S −0.0798%	1h	$210	—	100x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	$21K	$623K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0216%	1h	$212K	$241K	10x	as long as short
Hyperliquid kBONK	+0.0851%	1h	$9.8M	$6.4M	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.0916%	1h	$166K	$162K	50x