BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0770%/8h= −84.4% APRnext payment −$0.96 per $10,000 · paid last 24h −0.180%

Price spread now: Coinbase International against Backpack−1.346%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 Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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 −$23 a day on $10k at the current rate, and Coinbase International is 1.346% cheaper against Backpack than usual: you would sell low and buy high (−$135 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	0.000003417	0.0394	pay 0.0049% / 1h	6m 58s	$30K	$7K	10x
Short	Coinbase International 1000BONK-PERP-INTX	0.000003371	−0.0376	pay 0.0047% / 1h	6m 58s	$43K	$25K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −1.346%Rate

Funding earned: −$161.78
Price spread: −1.346% → 0.000%: −$134.62
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$316.4
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Backpack: no order-book sample; Coinbase International: no order-book sample. 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 Coinbase International no order-book sample	—	—	—	—	—

Backpack and Coinbase International: 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-INTXshort	−0.0376%	1h	0.000003371	−1.346%	$43K	$25K	50x
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003416	−0.029%	$1.0M	$14.7M	75x	as long as short
Orderly PERP_1000BONK_USDC	−0.0035%	4h	0.000003414	−0.088%	$29K	$39K	20x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003416	−0.016%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003410	−0.205%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003415	−0.053%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.185%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003418	+0.028%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003422	+0.146%	$19K	$99K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003413	−0.122%	$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 kBONK	+0.0100%	1h	0.000003419	+0.059%	$113K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003420	+0.088%	$15.9M	$53.6M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003419	+0.056%	$10.8M	$17.2M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003421	+0.117%	$2.5M	$8.0M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003417	0.000%	$733K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003419	+0.059%	$10.0M	$6.8M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003418	+0.029%	$2.7M	$9.8M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003414	−0.088%	$4.3M	$3.0M	75x	as long as short
BingX 1000BONK-USDC	+0.0100%	4h	0.000003420	+0.088%	—	$6.5M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003404	−0.382%	$312K	$125K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003424	+0.205%	$58K	$708K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003417	0.000%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003410	−0.205%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003421	+0.117%	$94K	$154K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003418	+0.019%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003417	0.000%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.204%	$570	—	100x	as long as short
Lighter 1000BONK	+0.0360%	1h	0.000003418	+0.029%	$354K	$475K	10x	as long as short
Backpack kBONK_USDC_PERPlong	+0.0394%	1h	0.000003417	long leg	$30K	$7K	10x
Hyperliquid kBONK	+0.0591%	1h	0.000003421	+0.117%	$9.7M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1458%	1h	0.000003417	+0.001%	$213K	$165K	50x	as long as short