Bonk (BONK) Funding Rate

Bonk Funding Rate Overview

The Bonk (BONK) perpetual funding rate is a periodic payment exchanged between long and short holders of BONK perpetual futures contracts, designed to keep the perpetual price anchored to the underlying spot price. When BONK funding is positive, longs pay shorts — signalling bullish leveraged crowding. When negative, shorts pay longs — often during a capitulation or heavy hedging flow. Sharpe aggregates BONK funding rates from 13 exchanges with each exchange's rate normalized to annualized APR (APR = rate × 8,760 / interval_hours) so you can directly compare 1-hour rates from Hyperliquid against 8-hour rates from Binance, Bybit, and OKX.

About Bonk Perpetual Funding

Bonk (BONK) perpetual futures see $80M to $200M OI on Binance, Bybit, OKX, and Bitget. BONK is the first major Solana memecoin (Dec 2022 launch) and sparked the 2023-2024 Solana memecoin renaissance. BONK funding has extreme volatility typical of Solana memes but with added structural features — BONK is deeply integrated with Solana DeFi (Jupiter, Drift, Kamino use BONK for fee payments), creating modest utility demand. Baseline BONK funding runs 0.01% to 0.04% per 8h. BONK's massive circulating supply (~77T) produces low unit price appealing to new retail. Quarterly BONK burn events and BONKbot (Telegram trading bot) user growth add event windows.

How to Read the BONK Funding Rate

BONK funding is early-cycle Solana memecoin signal. When BONK funding accelerates while WIF funding is flat, Solana memecoin rotation is rotating toward older/cheaper tokens — often late-cycle behavior. BONK-to-WIF funding ratio tracks memecoin freshness preference. Bybit and MEXC BONK funding run highest during retail euphoria. BONKbot user metrics and DeFi integration TVL are leading fundamental indicators distinguishing sustainable rallies from pure speculation spikes. Negative BONK funding below -0.03% has marked Solana memecoin cycle bottoms consistently since 2023. BONK burn announcements produce 3-5 day funding spikes that typically mean-revert.

BONK Funding Rate Signals

Use the BONK funding rate as three separate signals. First, as a sentiment indicator: persistent 8-hour rates above 0.03% (~33% APR) often precede Bonk corrections as leveraged longs crowd. Second, as a carry opportunity: hold long spot + short perp to collect the funding payment while staying delta-neutral — use Sharpe's arbitrage calculator to size the trade. Third, as a cross-exchange divergence signal: when Binance BONK funding diverges meaningfully from OKX or Hyperliquid, the positioning asymmetry often precedes a volatility expansion. Sharpe's funding rate terminal and leaderboard surface these divergences automatically.

Frequently Asked Questions

What is the current Bonk funding rate?

As of 2026-05-07 01:57 UTC, Bonk (BONK) is funding at 0.0100% on OKX (8-hour interval, 0.11% annualized). Sharpe tracks 4 venues for BONK — the highest BONK APR right now is 0.11% on OKX, the lowest is 0.00% on CoinEx. Open the table on this page for the full live cross-exchange comparison.

Which exchanges have the highest Bonk funding rate?

As of 2026-05-07 01:57 UTC, the top three BONK funding venues by annualized APR are: OKX at 0.11%, Gate.io at 0.05%, HTX at 0.05%. The bottom three (best for paying-side carry) are: CoinEx at 0.00%, Gate.io at 0.05%, HTX at 0.05%. Rankings rotate each settlement window — Sharpe's leaderboard sorts all 5,000+ perpetual pairs across 13 tracked exchanges by current rate or annualized APR.

How is the Bonk funding rate calculated?

Exchange-calculated funding rates combine three inputs: the premium index (BONK perpetual price minus the spot reference index), the interest rate component (typically fixed at 0.01% per 8 hours), and a clamp function that caps the final rate at ±0.375% on most exchanges. The formula is: funding = clamp(premium_index + interest_rate, ±cap). Different exchanges use slightly different index sources, which explains the cross-venue rate differences.

What is the annualized APR on Bonk funding?

APR = rate × (8,760 / interval_hours). For 8-hour funding (Binance, Bybit, OKX), a 0.01% rate annualizes to 10.95% APR. For 1-hour funding (Hyperliquid), the same 0.01% rate annualizes to 87.6% APR. Sharpe's table auto-normalizes every BONK funding rate to APR so you can rank yields across exchanges without manual conversion.

Does Bonk funding rate arbitrage work?

Yes, when rates are high enough to overcome trading fees and execution slippage. The classic trade is long spot BONK + short BONK perp on the same exchange — you earn the funding rate each settlement while staying delta-neutral. Historical BTC and ETH funding rate arbitrage has yielded 10–40% annualized in bull markets. Use Sharpe's arbitrage calculator to size the trade with realistic fee and holding assumptions before execution.

Where does Sharpe get Bonk funding rate data?

Sharpe fetches BONK funding rates via direct REST API calls to each of the 13 supported exchanges — no third-party aggregator dependency. Rates update on each exchange's settlement schedule (every 1 hour for Hyperliquid and dYdX v4, every 8 hours for Binance, Bybit, OKX, and most others). Historical data is stored for trend analysis and accumulated-carry calculations.