Funding you earn now, next payment 22:00 UTC−0.0527%/8h= −57.7% APRnext payment −$0.66 per $10,000 · paid last 24h +0.057%
Price spread now: Backpack against ApeX Omni−1.658%84s7-day average +0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as 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−$420.418% of the position
Funding, last 7 days+0.147%+$15 on $10k
+Price spread, last 3 days (all we have)+1.379%+$138 · spread now −1.658%, 7d avg +0.018%
=Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Backpack is 1.676% cheaper against ApeX Omni than usual: you would sell low and buy high (−$168 if the spread goes back to its 7-day average of +0.018%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.147%, so the current rate has only just turned against you. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.147% in total (about 7.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.66 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | ApeX Omni 1000PEPEUSDT | 0.000004891 | 0.0699 | pay 0.0087% / 1h | 54m 02s | $101K | $755K | 25x |
| Short | Backpack kPEPE_USDC_PERP | 0.000004810 | 0.0172 | get 0.0021% / 1h | 54m 02s | $109K | $620K | 15x |
ApeX Omni 1000PEPEUSDT
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against ApeX Omni. 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
- −$110.63
- Price spread: −1.658% → +0.018%
- −$167.64
- Slippage, 4 orders
- −$21.81
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$320.08
- Costs to cover
- 0.418%
- Break-even
- never at this rate
Slippage from ApeX Omni: live order book, 34 min ago; Backpack: live order book, 34 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 ApeX Omni live order book, 34 min ago | 5.79 bp | 13.6 bp −$14 | 89.3 bp −$893 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 34 min ago | 0.10 bp | 5.3 bp −$5 | 17.2 bp −$172 | 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 | 0.000004840 | −1.033% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000004808 | −1.705% | $13K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004809 | −1.677% | $55.8M | $67.9M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004847 | −0.900% | $58K | $108K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004804 | −1.781% | $88.4M | $271.6M | 50x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0100% | 8h | 0.000004807 | −1.717% | $41.1M | $484.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004806 | −1.738% | $147.0M | $60.2M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004812 | −1.613% | $21.8M | $48.8M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004889 | −0.031% | $719K | $3.8M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004893 | +0.031% | $28K | $335K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
OKX PEPE-USDT-SWAP
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDCShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004820 | −1.446% | $2K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004815 | −1.556% | $555K | $3.5M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0166% | 1h | 0.000004811 | −1.636% | $81K | $94K | 25x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0172% | 1h | 0.000004810 | −1.658% | $109K | $620K | 15x | |
| Bitget PEPEUSDT | +0.0183% | 8h | 0.000004806 | −1.736% | $43.5M | $146.1M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004814 | −1.582% | $7K | — | 15x | as long as short |
| Lighter 1000PEPE | +0.0216% | 1h | 0.000004826 | −1.329% | $540K | $5.0M | 10x | as long as short |
| BloFin PEPE-USDT | +0.0220% | 8h | 0.000004893 | +0.041% | $4.0M | $21.6M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0310% / S −0.0264% | 1h | 0.000004000 | −18.217% | $46K | — | 100x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0346% | 8h | 0.000004812 | −1.619% | $30K | $10K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0349% | 8h | 0.000004768 | −2.508% | $5K | $16 | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0453% | 8h | 0.000004814 | −1.580% | $2.3M | $6.3M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004828 | −1.288% | $562K | $25.2M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004902 | +0.225% | $4K | $92K | 12x | as long as short |
| SoDEX 1000PEPE-USD | +0.0624% | 1h | 0.000004825 | −1.349% | $2K | $9K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDTlong | +0.0699% | 1h | 0.000004891 | long leg | $101K | $755K | 25x | |
| Nado kPEPE-PERP | +0.0728% | 1h | 0.000004807 | −1.717% | $180K | $868K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0759% | 1h | 0.000004824 | −1.375% | $3.8M | $12.7M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0760% | 8h | 0.000004812 | −1.607% | — | $254.5M | — | as long as short |
| Extended 1000PEPE-USD | +0.0792% | 1h | 0.000004818 | −1.492% | $529K | $146K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0792% | 8h | 0.000004805 | −1.764% | $100.3M | $285.3M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0792% | 1h | 0.000004831 | −1.227% | $137K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0793% | 8h | 0.000004814 | −1.574% | $129.3M | $1.00B | 75x | as long as short |
| 01 Exchange kPEPEUSD | +0.0816% | 1h | 0.000004901 | +0.204% | $561 | $2K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0855% | 8h | 0.000004817 | −1.514% | $1.5M | $6.8M | 50x | as long as short |
SunX 1000PEPE-USDT
HTX PEPE-USDT
Deribit 1000PEPE_USDC-PERPETUAL
Bitget PEPEUSDT
Reya kPEPERUSDPERP
Lighter 1000PEPE
BloFin PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
Injective PEPE/USDC PERP
SoDEX 1000PEPE-USD
Nado kPEPE-PERP
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
01 Exchange kPEPEUSD
Aster 1000PEPEUSDT