Bonk
Real-time BONK perpetual funding rates across 13 major exchanges — Binance, Bybit, OKX, Deribit, Hyperliquid, Gate.io, Bitget, KuCoin, MEXC, HTX, BingX, CoinEx, and BitMEX.
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.
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.
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.
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.