BONK

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0169%/8h= +18.5% APRnext payment +$0.85 per $10,000 · paid last 24h +0.104%

Price spread now: Variational Omni against Orderly+0.242%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Variational Omni is 0.242% dearer against Orderly than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_1000BONK_USDC	0.000003355	−0.0069	get 0.0035% / 4h	23m 47s	$29K	$40K	20x
Short	Variational Omni 1000BONK	0.000003363	0.0100	get 0.0050% / 4h	23m 47s	$303K	$119K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Orderly. 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 OrderlybpFee Variational OmnibpOrdersPrice spread, now +0.242%Rate

Funding earned: $35.54
Price spread: +0.242% → 0.000%: $24.18
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $53.73
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 55 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 55 min ago	5.96 bp	doesn't fit	59.6 bp −$596	doesn't fit	doesn't fit

Orderly: 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	−0.0456%	1h	0.000003342	−0.387%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003359	+0.119%	$1.0M	$13.7M	75x	as long as short
Orderly PERP_1000BONK_USDClong	−0.0069%	4h	0.000003355	long leg	$29K	$40K	20x
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003357	+0.072%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003359	+0.132%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.414%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003356	+0.030%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003356	+0.030%	$188K	$300K	10x	as long as short
Aster 1000BONKUSDT	+0.0100%	4h	0.000003355	+0.014%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003357	+0.060%	$113K	$123K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance 1000BONKUSDT	+0.0100%	4h	0.000003356	+0.030%	$15.2M	$52.4M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003353	−0.048%	$10.2M	$16.8M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003355	0.000%	$2.4M	$7.8M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003353	−0.060%	$716K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003356	+0.030%	$9.7M	$6.7M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003355	−0.012%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003352	−0.089%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003354	−0.030%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003358	+0.089%	$30K	$7K	10x	as long as short
Variational Omni 1000BONKshort	+0.0100%	4h	0.000003363	+0.242%	$303K	$119K	—
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003370	+0.447%	$57K	$703K	25x	as long as short
Nado kBONK-PERP	+0.0100%	1h	0.000003358	+0.104%	$19K	$106K	10x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003362	+0.209%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003357	+0.060%	$2K	$6K	10x	as long as short
HTX BONK-USDT	+0.0100%	4h	0.000003375	+0.596%	$92K	$153K	30x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003355	−0.006%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003353	−0.060%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.581%	$561	—	100x	as long as short
Deribit 1000BONK_USDC-PERPETUAL	+0.0346%	1h	0.000003356	+0.030%	$2K	$110K	10x	as long as short
Hyperliquid kBONK	+0.1245%	1h	0.000003361	+0.179%	$10.1M	$7.2M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.1458%	1h	0.000003362	+0.213%	$205K	$150K	50x	as long as short