BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.1726%/8h= −189.0% APRnext payment −$2.16 per $10,000 · paid last 24h −0.341%

Price spread now: ApeX Omni against Kraken Futures+0.794%7-day average −0.129% · you sell dearer than you buy

Net, funding: paid 7d − costs−$198as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$1171.173% of the position

Long on Kraken Futures Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.807%−$81 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.794%, 7d avg −0.129%

Together, before fees−0.908%−$91 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.923% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.794% now, against its 7-day average of −0.129%): +$92 on $10k if it goes back. Holding the pair costs −$52 a day in funding at the current rate, which eats that in about 43 hours. At the pace of the last 7 days (−0.807% in total) that is about 8.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.807% in total (about -42.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.16 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	Kraken Futures PF_BONKUSD	0.000003472	0.1826	pay 0.0228% / 1h	55m 13s	$177K	$273K	50x
Short	ApeX Omni 1000BONKUSDT	0.000003500	0.0100	get 0.0013% / 1h	55m 13s	$59K	$697K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kraken Futures. 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 Kraken FuturesbpFee ApeX OmnibpOrdersPrice spread, now +0.794%Rate

Funding earned: −$362.55
Price spread: +0.794% → −0.129%: $92.26
Slippage, 4 orders: −$97.34
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$387.63
Costs to cover: 1.173%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 37 min ago; ApeX Omni: live order book, 38 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 Kraken Futures live order book, 37 min ago	34.61 bp	46.6 bp −$47	166.2 bp −$1,662	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 38 min ago	7.20 bp	15.0 bp −$15	92.4 bp −$924	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	−0.0096%	1h	0.000003510	+1.082%	$47K	$94K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003513	+1.183%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.714%	$3K	$113	5.5x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0038%	1h	0.000003475	+0.074%	$24K	$162K	10x	as long as short
BloFin 1000BONK-USDT	+0.0067%	4h	0.000003474	+0.045%	$1.1M	$19.8M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003476	+0.096%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003474	+0.060%	$64K	$142K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003475	+0.060%	$48K	$282K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003484	+0.333%	$116K	$161K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003466	−0.176%	$17.8M	$91.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003463	−0.266%	$12.3M	$27.5M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003469	−0.099%	$3.0M	$15.1M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003468	−0.128%	$917K	$3.3M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003462	−0.300%	$11.0M	$10.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003470	−0.076%	$2.9M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003464	−0.243%	$4.4M	$5.5M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003466	−0.185%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003497	+0.702%	$341K	$119K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003500	+0.794%	$59K	$697K	25x
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003474	+0.045%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003501	+0.823%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003471	−0.041%	$2K	$10K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003480	+0.218%	$99K	$136K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003472	+0.002%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003474	+0.045%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0112%	1h	0.000003474	+0.045%	$244K	$735K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−13.605%	$531	—	100x	as long as short
Hyperliquid kBONK	+0.0417%	1h	0.000003474	+0.045%	$11.8M	$8.5M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1215%	1h	0.000003473	+0.016%	$54K	$24K	10x	as long as short
dYdX BONK-USD	+0.1580%	1h	0.000003480	+0.218%	$13K	$10K	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.1826%	1h	0.000003472	long leg	$177K	$273K	50x