BONK-PERPCrypto · MemeTrade Bonk (BONK) Perpetual Futures
Go long or short on Bonk with up to 100x leverage. No KYC, no sign-up: connect your wallet and trade 24/7.
- No KYC
- No sign-up
- Self-custody
- Up to 100x leverage
- Mark price
- 0.000002951
- 24h high
- 0.000002989
- 24h low
- 0.000002908
- 24h volume
- 32.1K USDT
Bonk is a dog-themed meme coin on the Solana blockchain, launched in December 2022. It arrived at a difficult moment for Solana, shortly after the collapse of FTX, an exchange closely associated with the ecosystem. A large share of the initial supply was airdropped to Solana users, including NFT collectors, developers and artists, which helped the token spread quickly and made it a symbol of Solana's community recovering its momentum.
Unlike many meme coins, Bonk has built a set of products around the token. These include BonkBot, a trading bot used on Telegram, and the letsbonk.fun token launchpad, among other integrations across Solana applications. Some of the fees these products generate have been used to buy back or burn BONK, and the community has carried out several burns that reduce the circulating supply.
BONK has no claim on revenue or assets and its value rests largely on community, culture and speculation. It has a very large token supply, which is why it trades at a tiny fraction of a cent. Traders follow BONK as one of the most recognized meme coins and as a barometer of retail sentiment on Solana.
BONK is driven mainly by attention and sentiment. Social media trends, viral moments and the general mood toward meme coins can produce large moves in either direction. Activity on Solana and the price of SOL matter as well, since BONK is often treated as a high-risk bet on that ecosystem.
Exchange listings and the launch of derivatives or investment products referencing BONK have historically drawn new buyers. Token burns, buybacks funded by Bonk-related products, and usage of its launchpad and trading tools influence supply and demand. Large wallets and competing meme coins that draw speculative capital elsewhere are additional factors.
The BONK perpetual is a futures contract on the price of Bonk with no expiry date. You never own Bonk itself: you go long if you expect the price to rise or short if you expect it to fall, and settle profit and loss in USDT.
You choose your leverage, up to 100x. Margin is cross: your whole perpetual balance backs every open position. Positions are valued at a mark price taken from market data, which can differ from the last trade, and an order more than 20% away from the mark price is rejected.
- 1Connect a wallet. Connect MetaMask, or log in with email or Google, and sign the login message.
- 2Deposit USDT. Deposit USDT and move it to your perpetual account to use as margin.
- 3Choose long or short and your leverage. Open the BONK market, pick a direction and leverage, and place a market or limit order.
- 4Manage the position. Set a take-profit or stop-loss, add margin, or close the position whenever you like.
| Topic | Max Orion | Centralized exchange |
|---|---|---|
| Sign-up | No KYC: connect a wallet and sign a message | Email, password and identity checks |
| Your account | Your wallet address is your account | A username held by the exchange |
| Orders | Every order is signed by your wallet | Orders sent under a logged-in session |
| Hours | Crypto, gold and oil, 24/7 | Commodities often follow market hours |
Leverage multiplies losses as well as gains. If the Bonk price moves against your position far enough that your perpetual balance, including unrealized losses, falls below the maintenance margin, positions are closed automatically at the prevailing price and you can lose your whole balance. A stop-loss becomes a market order when triggered and is not guaranteed to fill at its price. Only trade with money you can afford to lose. BONK is highly volatile, often far more so than large caps, and can move sharply within hours on sentiment alone.
Frequently asked questions
A BONK perpetual is a futures contract on the price of Bonk with no expiry date. You go long if you expect the price to rise or short if you expect it to fall, post margin in USDT, and keep the position open for as long as your margin covers it.
You can trade Bonk perpetuals with up to 100x leverage. The higher the leverage, the smaller the price move against you that liquidates the position.
No. There is no KYC and no sign-up form. You connect a wallet and sign a message to log in — self-custody wallet sign-in, with no password — then deposit USDT to start trading.
Every market settles in USDT, with cross margin: your whole perpetual balance backs all of your open positions, so a profit on one adds margin to the others and a loss on one reduces the margin left for all of them.
A perpetual has no expiry, so a periodic funding payment between longs and shorts keeps its price close to the underlying market. When the perpetual trades above the underlying, longs pay shorts; when it trades below, shorts pay longs.
A maker order, which waits in the order book, pays 0.02% of its value. A taker order, which fills immediately, pays 0.06%.
Leverage multiplies losses as well as gains. If the price moves against your position far enough that your margin no longer covers it, the position is liquidated and the margin is lost. Only trade with money you can afford to lose.
