BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1205%/8h= +131.9% APRnext payment +$1.51 per $10,000 · paid last 24h +0.243%

Price spread now: Kraken Futures against Backpack−0.084%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 6 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

Funding pays, the price is against you. Kraken Futures is 0.084% cheaper against Backpack than usual: you would sell low and buy high (spread −0.084% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 6 hours of funding at the current rate (+$36 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack kBONK_USDC_PERP	0.000003482	0.1779	pay 0.0222% / 1h	32m 26s	$54K	$23K	10x
Short	Kraken Futures PF_BONKUSD	0.000003479	0.2984	get 0.0373% / 1h	32m 26s	$177K	$271K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.084%Rate

Funding earned: $253
Price spread: −0.084% → 0.000%: −$8.44
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $224.55
Costs to cover: 0.200%
Break-even: 0.8 days

Slippage unknown: Backpack: no order-book sample; Kraken Futures: live order book, just now. 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 Kraken Futures live order book, just now	34.61 bp	40.9 bp −$41	85.0 bp −$850	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: 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	−0.0024%	1h	0.000003465	−0.488%	$42K	$66K	50x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003475	−0.198%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−5.974%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0047%	4h	0.000003479	−0.086%	$1.1M	$19.9M	75x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003461	−0.591%	$4	—	15x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003465	−0.488%	$69K	$136K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003465	−0.481%	$47K	$321K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003471	−0.316%	$115K	$163K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003463	−0.532%	$17.8M	$89.0M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003460	−0.635%	$12.3M	$27.0M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003463	−0.546%	$3.0M	$14.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003459	−0.661%	$915K	$3.5M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003462	−0.574%	$11.1M	$10.1M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003460	−0.632%	$2.9M	$11.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003458	−0.689%	$4.5M	$5.3M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003460	−0.632%	—	$5.1M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003493	+0.314%	$328K	$94K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003498	+0.460%	$59K	$700K	25x	as long as short
Orderly PERP_1000BONK_USDC	+0.0100%	4h	0.000003459	−0.661%	$30K	$51K	20x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003481	−0.029%	$2K	$15K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003477	−0.144%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003481	−0.029%	$99K	$134K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003464	−0.514%	$22K	$5K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003450	−0.919%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.3950%	1h	0.000003000	−13.843%	$529	—	100x	as long as short
dYdX BONK-USD	+0.0203%	1h	0.000003470	−0.332%	$12K	$10K	10x	as long as short
Lighter 1000BONK	+0.0288%	1h	0.000003478	−0.115%	$244K	$759K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0326%	1h	0.000003475	−0.201%	$34K	$164K	10x	as long as short
Hyperliquid kBONK	+0.0578%	1h	0.000003467	−0.431%	$11.8M	$8.2M	10x	as long as short
Backpack kBONK_USDC_PERPlong	+0.1779%	1h	0.000003482	long leg	$54K	$23K	10x
Kraken Futures PF_BONKUSDshort	+0.2984%	1h	0.000003479	−0.084%	$177K	$271K	50x