BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.2919%/8h= +319.7% APRnext payment +$3.65 per $10,000 · paid last 24h +0.230%

Price spread now: Kraken Futures against Pacifica+0.587%7-day average +0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$1241.240% of the position

Long on Pacifica Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.644%+$64 on $10k

Price spread, last 4 days (all we have)−0.492%−$49 · spread now +0.587%, 7d avg +0.119%

Together, before fees+0.152%+ Points / potential airdropPacifica: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$88 a day on $10k at the current rate, and Kraken Futures is 0.469% dearer against Pacifica than usual: you sell high and buy low: +$47 more if the spread goes back to its 7-day average of +0.119%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.644% in total (about 33.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.65 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	Pacifica kBONK	0.000003555	0.0100	pay 0.0013% / 1h	12m 22s	$118K	$139K	10x
Short	Kraken Futures PF_BONKUSD	0.000003576	0.3019	get 0.0377% / 1h	12m 22s	$220K	$223K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.587%Rate

Funding earned: $613.05
Price spread: +0.587% → +0.119%: $46.87
Slippage, 4 orders: −$106.03
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $535.89
Costs to cover: 1.240%
Break-even: 0.9 days

Slippage from Pacifica: live order book, 30 min ago; Kraken Futures: live order book, 30 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, 30 min ago	6.89 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 30 min ago	23.37 bp	34.3 bp −$34	79.1 bp −$791	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	−0.0016%	1h	0.000003558	+0.084%	$44K	$62K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003559	+0.122%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003554	−0.028%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.904%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0080%	4h	0.000003554	−0.028%	$1.1M	$19.1M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003561	+0.166%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003561	+0.183%	$56K	$124K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003558	+0.097%	$59K	$303K	10x	as long as short
Pacifica kBONKlong	+0.0100%	1h	0.000003555	long leg	$118K	$139K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003561	+0.169%	$18.5M	$81.3M	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	0.000003559	+0.104%	$12.2M	$25.0M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003562	+0.197%	$2.9M	$13.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003558	+0.084%	$963K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003564	+0.253%	$12.3M	$9.3M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003560	+0.152%	$3.0M	$10.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003555	0.000%	$4.6M	$4.8M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003560	+0.141%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003567	+0.334%	$336K	$147K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003556	+0.028%	$60K	$706K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003559	+0.113%	$30K	$52K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003567	+0.338%	$2K	$14K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003561	+0.169%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003565	+0.281%	$101K	$131K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003561	+0.169%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003558	+0.084%	$4K	—	3x	as long as short
Lighter 1000BONK	+0.0160%	1h	0.000003558	+0.084%	$249K	$748K	10x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−15.612%	$543	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0874%	1h	0.000003563	+0.225%	$35K	$176K	10x	as long as short
Hyperliquid kBONK	+0.1281%	1h	0.000003567	+0.338%	$12.2M	$7.9M	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1637%	1h	0.000003559	+0.113%	$55K	$23K	10x	as long as short
Kraken Futures PF_BONKUSDshort	+0.3019%	1h	0.000003576	+0.587%	$220K	$223K	50x