BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0438%/8h= −47.9% APRnext payment −$0.55 per $10,000 · paid last 24h −0.120%

Price spread now: Deribit against Pacifica−0.205%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$650.654% of the position

Long on Pacifica Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.546%−$55 on $10k

Price spread, last 3 days (all we have)+0.165%+$16 · spread now −0.205%, 7d avg −0.012%

Together, before fees−0.381%+ Points / potential airdropPacifica: Active · farm board−$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.193% cheaper against Pacifica than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kBONK	0.000003409	0.0100	pay 0.0013% / 1h	45m 45s	$113K	$125K	10x
Short	Deribit 1000BONK_USDC-PERPETUAL	0.000003402	−0.0338	pay 0.0042% / 1h	45m 45s	$2K	$110K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.205%Rate

Funding earned: −$91.88
Price spread: −0.205% → −0.012%: −$19.31
Slippage, 4 orders: −$50.44
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$176.64
Costs to cover: 0.654%
Break-even: never at this rate

Slippage from Pacifica: live order book, 22 min ago; Deribit: live order book, 53 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, 22 min ago	5.87 bp	24.6 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 53 min ago	10.31 bp	13.8 bp −$14	doesn't fit	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
Deribit 1000BONK_USDC-PERPETUALshort	−0.0338%	1h	0.000003402	−0.205%	$2K	$110K	10x
Coinbase International 1000BONK-PERP-INTX	−0.0336%	1h	0.000003390	−0.557%	$44K	$26K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003414	+0.147%	$939K	$14.9M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0024%	4h	0.000003404	−0.147%	$29K	$49K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003410	+0.029%	$12K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003404	−0.158%	$23	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−3.960%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003402	−0.206%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003405	−0.132%	$27K	$114K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003403	−0.175%	$66K	$253K	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	0.000003409	long leg	$113K	$125K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003399	−0.293%	$16.0M	$55.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003399	−0.293%	$10.7M	$17.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003399	−0.293%	$2.5M	$8.2M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003400	−0.264%	$741K	$2.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003400	−0.264%	$9.6M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003400	−0.264%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003400	−0.264%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003400	−0.264%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003402	−0.191%	$310K	$127K	—	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003409	0.000%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003403	−0.176%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003411	+0.059%	$96K	$161K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003399	−0.304%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003404	−0.147%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−11.998%	$569	—	100x	as long as short
Lighter 1000BONK	+0.0232%	1h	0.000003405	−0.117%	$374K	$499K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.0475%	1h	0.000003401	−0.235%	$30K	$7K	10x	as long as short
ApeX Omni 1000BONKUSDT	+0.0532%	1h	0.000003412	+0.088%	$57K	$712K	25x	as long as short
Hyperliquid kBONK	+0.0886%	1h	0.000003407	−0.059%	$10.1M	$7.5M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.2063%	1h	0.000003414	+0.157%	$213K	$165K	50x	as long as short