Funding you earn now, next payment 06:00 UTC−0.0129%/8h= −14.2% APRnext payment −$0.16 per $10,000 · paid last 24h +0.053%
Price spread now: Backpack against Aevo−0.155%46s7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$1,115as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1,13111.309% of the position
Funding, last 7 days+0.162%+$16 on $10k
+Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.155%, 7d avg −0.003%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Backpack is 0.153% cheaper against Aevo than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.003%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.162%, so the current rate has only just turned against you. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Aevo 1000PEPE-PERP | 0.000005017 | 0.0800 | pay 0.0100% / 1h | 40m 19s | $142K | — | 3x |
| Short | Backpack kPEPE_USDC_PERP | 0.000005009 | 0.0671 | get 0.0084% / 1h | 40m 19s | $73K | $828K | 15x |
Aevo 1000PEPE-PERP
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Aevo. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$27.18
- Price spread: −0.155% → −0.003%
- −$15.29
- Slippage, 4 orders
- −$1,104.93
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$1,173.4
- Costs to cover
- 11.309%
- Break-even
- never at this rate
Slippage from Aevo: live order book, 8 min ago; Backpack: live order book, 9 min ago.
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 Aevo live order book, 8 min ago | 272.79 bp | 553.4 bp −$553 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 9 min ago | 0.10 bp | 5.2 bp −$5 | 24.3 bp −$243 | doesn't fit | doesn't fit |
PEPE on 35 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005002 | −0.294% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0001% | 1h | 0.000005017 | −0.010% | $6K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005008 | −0.179% | $58K | $176K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005009 | −0.153% | $98.8M | $402.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005003 | −0.279% | $161.6M | $93.5M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005010 | −0.146% | $25.0M | $70.4M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005011 | −0.126% | $601K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005029 | +0.238% | $28K | $536K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005022 | +0.100% | $2K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005008 | −0.171% | $563K | $4.1M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0165% | 1h | 0.000005016 | −0.020% | $2K | $10K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005009 | −0.156% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0342% | 8h | 0.000005018 | +0.012% | $45.3M | $209.3M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0410% | 8h | 0.000005019 | +0.038% | $33K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0419% | 8h | 0.000005012 | −0.100% | $46.3M | $681.4M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0544% | 8h | 0.000005008 | −0.185% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0546% | 8h | 0.000005011 | −0.120% | $4.4M | $27.8M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0643% | 8h | 0.000005011 | −0.128% | $2.4M | $7.9M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0656% | 1h | 0.000005010 | −0.140% | $604 | $3K | 10x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0671% | 1h | 0.000005009 | −0.155% | $73K | $828K | 15x | |
| Coinbase International 1000PEPE-PERP-INTX | +0.0680% | 1h | 0.000005027 | +0.199% | $632K | $36.8M | 50x | as long as short |
| Lighter 1000PEPE | +0.0696% | 1h | 0.000005020 | +0.060% | $596K | $9.0M | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0746% | 1h | 0.000005024 | +0.140% | $72K | $127K | 25x | as long as short |
| BingX 1000PEPE-USDC | +0.0770% | 8h | 0.000005006 | −0.223% | — | $2.3M | — | as long as short |
| Nado kPEPE-PERP | +0.0782% | 1h | 0.000005007 | −0.209% | $165K | $942K | 10x | as long as short |
| Aevo 1000PEPE-PERPlong | +0.0800% | 1h | 0.000005017 | long leg | $142K | — | 3x | |
| Binance 1000PEPEUSDT | +0.0805% | 8h | 0.000005014 | −0.068% | $141.3M | $1.40B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0805% | 8h | 0.000005008 | −0.173% | $96.5M | $300.0M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0808% | 1h | 0.000005018 | +0.018% | $530K | $277K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0852% | 1h | 0.000005014 | −0.054% | $4.6M | $16.7M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0867% | 8h | 0.000005014 | −0.056% | $1.8M | $11.1M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0970% | 1h | 0.000005028 | +0.219% | $154K | $814K | 25x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1081% / S −0.2014% | 1h | 0.000005000 | −0.339% | $64K | — | 100x | as long as short |
| Hyperliquid kPEPE | +0.1091% | 1h | 0.000005012 | −0.100% | $53.1M | $151.1M | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000005034 | +0.339% | $3K | $111K | 12x | as long as short |
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
Coinbase International 1000PEPE-PERP-INTX
Lighter 1000PEPE
Deribit 1000PEPE_USDC-PERPETUAL
BingX 1000PEPE-USDC
Nado kPEPE-PERP
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Kraken Futures PF_PEPEUSD
Aster 1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Hyperliquid kPEPE
Injective PEPE/USDC PERP