BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0907%/8h= −99.3% APRnext payment −$1.13 per $10,000 · paid last 24h −0.099%

Price spread now: ApeX Omni against Hyperliquid−0.291%7-day average −0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$580.579% of the position

Long on Hyperliquid Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.258%−$26 on $10k

Price spread, last 4 days (all we have)+1.242%+$124 · spread now −0.291%, 7d avg −0.108%

Together, before fees+0.984%+ Points / potential airdropHyperliquid: Season 2 · farm board+$98 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and ApeX Omni is 0.182% cheaper against Hyperliquid than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.108%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.258% in total (about -13.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.13 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	Hyperliquid kBONK	0.000003442	0.1007	pay 0.0126% / 1h	2m 59s	$10.2M	$6.4M	10x
Short	ApeX Omni 1000BONKUSDT	0.000003432	0.0100	get 0.0013% / 1h	2m 59s	$58K	$708K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Hyperliquid. 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 HyperliquidbpFee ApeX OmnibpOrdersPrice spread, now −0.291%Rate

Funding earned: −$190.5
Price spread: −0.291% → −0.108%: −$18.21
Slippage, 4 orders: −$38.86
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$266.56
Costs to cover: 0.579%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; ApeX Omni: live order book, 66 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 Hyperliquid live order book, 9 min ago	2.90 bp	12.1 bp −$12	22.3 bp −$223	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 66 min ago	8.78 bp	16.2 bp −$16	110.0 bp −$1,100	doesn't fit	doesn't fit

BONK on 30 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	−0.0336%	1h	0.000003427	−0.436%	$44K	$27K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003432	−0.278%	$12K	$3K	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	0.0000%	1h	0.000003435	−0.203%	$2K	$110K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003432	−0.285%	$24	—	150x	as long as short
Orderly PERP_1000BONK_USDC	+0.0023%	4h	0.000003436	−0.174%	$29K	$58K	20x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−4.881%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003432	−0.292%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003443	+0.029%	$225K	$678K	10x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003431	−0.320%	$27K	$107K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003438	−0.131%	$81K	$269K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica kBONK	+0.0100%	1h	0.000003433	−0.261%	$114K	$123K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003436	−0.174%	$16.1M	$57.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003435	−0.198%	$10.9M	$17.9M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003434	−0.232%	$2.5M	$8.4M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003436	−0.174%	$876K	$2.7M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003437	−0.145%	$9.6M	$6.9M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003436	−0.180%	$2.6M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003434	−0.232%	$4.3M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003438	−0.116%	—	$4.7M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003430	−0.352%	$313K	$134K	—	as long as short
ApeX Omni 1000BONKUSDTshort	+0.0100%	1h	0.000003432	−0.291%	$58K	$708K	25x
SunX BONK-USDT	+0.0100%	4h	0.000003436	−0.174%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003436	−0.174%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003442	0.000%	$97K	$149K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003435	−0.213%	$22K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003434	−0.232%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−12.841%	$574	—	100x	as long as short
Backpack kBONK_USDC_PERP	+0.0332%	1h	0.000003439	−0.087%	$30K	$7K	10x	as long as short
Hyperliquid kBONKlong	+0.1007%	1h	0.000003442	long leg	$10.2M	$6.4M	10x
Kraken Futures PF_BONKUSD	+0.2045%	1h	0.000003446	+0.110%	$222K	$173K	50x	as long as short