BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.2279%/8h= −249.6% APRnext payment −$2.85 per $10,000 · paid last 24h −0.160%

Price spread now: Pacifica against Kraken Futures−0.073%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$182as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1241.238% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.577%−$58 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.073%, 7d avg −0.119%

Together, before fees−0.540%+ Points / potential airdropPacifica: Active · farm board−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.046% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.073% now, against its 7-day average of −0.119%): +$5 on $10k if it goes back. Holding the pair costs −$68 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.577% in total) that is about 13 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.577% in total (about -30.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.85 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	Kraken Futures PF_BONKUSD	0.000003530	0.2379	pay 0.0297% / 1h	21m 16s	$225K	$178K	50x
Short	Pacifica kBONK	0.000003527	0.0100	get 0.0013% / 1h	21m 16s	$119K	$107K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Kraken Futures. 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 Kraken FuturesbpFee PacificabpOrdersPrice spread, now −0.073%Rate

Funding earned: −$478.61
Price spread: −0.073% → −0.119%: $4.59
Slippage, 4 orders: −$105.8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$597.82
Costs to cover: 1.238%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 31 min ago; Pacifica: live order book, 31 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 Kraken Futures live order book, 31 min ago	24.27 bp	50.8 bp −$51	156.4 bp −$1,564	doesn't fit	doesn't fit
Sell Pacifica live order book, 31 min ago	5.72 bp	21.7 bp −$22	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
Coinbase International 1000BONK-PERP-INTX	−0.0312%	1h	0.000003520	−0.272%	$44K	$39K	50x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003529	−0.006%	$13K	$3K	10x	as long as short
gTrade (Gains Network) BONK/USD	L +0.0001% / S +0.0001%	1h	0.000003522	−0.212%	$24	—	150x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−7.241%	$3K	$113	5.5x	as long as short
BloFin 1000BONK-USDT	+0.0045%	4h	0.000003514	−0.442%	$990K	$16.6M	75x	as long as short
Orderly PERP_1000BONK_USDC	+0.0082%	4h	0.000003519	−0.300%	$30K	$54K	20x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003524	−0.162%	$4	—	15x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003521	−0.233%	$82K	$250K	10x	as long as short
Pacifica kBONKshort	+0.0100%	1h	0.000003527	−0.073%	$119K	$107K	10x
Binance 1000BONKUSDT	+0.0100%	4h	0.000003523	−0.187%	$17.5M	$63.4M	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	0.000003519	−0.289%	$11.4M	$19.7M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003520	−0.272%	$2.6M	$9.9M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003524	−0.158%	$880K	$2.8M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003523	−0.187%	$10.0M	$7.5M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003523	−0.175%	$3.0M	$10.0M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003520	−0.272%	$4.5M	$3.2M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003523	−0.187%	—	$4.8M	—	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003522	−0.219%	$326K	$140K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003516	−0.385%	$59K	$707K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003526	−0.102%	$38K	$108K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003524	−0.158%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003520	−0.272%	$2K	$7K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003531	+0.040%	$100K	$121K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003519	−0.299%	$23K	$4K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003519	−0.300%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0197% / S −0.4340%	1h	0.000003000	−15.004%	$589	—	100x	as long as short
Lighter 1000BONK	+0.0216%	1h	0.000003526	−0.102%	$247K	$692K	10x	as long as short
Hyperliquid kBONK	+0.0843%	1h	0.000003533	+0.097%	$10.4M	$5.0M	10x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.1171%	1h	0.000003524	−0.158%	$6K	$123K	10x	as long as short
Backpack kBONK_USDC_PERP	+0.1406%	1h	0.000003513	−0.470%	$48K	$16K	10x	as long as short
Kraken Futures PF_BONKUSDlong	+0.2379%	1h	0.000003530	long leg	$225K	$178K	50x