I see a lot of people do this (above), but I could never figure it out with the bungie. It either sticks out way too much or it requires a ton of loops with the bungie and takes forever to put in and out.
I'm settling on simply getting a basket and laying it over the basket "in line" with the bike itself. May stick out a little on the back but whatever.
If anyone knows how to do it the way Max Palmer does it in the image above, let me know.