Funding you earn now, next payment 02:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h +0.009%
Price spread now: Aster against Backpack+0.027%55s7-day average +0.056% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as 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−$460.463% of the position
Funding, last 7 days−0.014%−$1 on $10k
+Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.027%, 7d avg +0.056%
=Together, before fees+0.039%+ Points / potential airdropAster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aster is 0.028% cheaper against Backpack than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.056%). Swap the legs. The two prices were read 55 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 -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment. 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 | Backpack kPEPE_USDC_PERP | 0.000005002 | 0.0768 | pay 0.0096% / 1h | 51m 15s | $102K | $622K | 15x |
| Short | Aster 1000PEPEUSDT | 0.000005004 | 0.0546 | get 0.0546% / 8h | 6h 51m | $1.7M | $7.9M | 50x |
Backpack kPEPE_USDC_PERP
Aster 1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster against Backpack. 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
- −$46.62
- Price spread: +0.027% → +0.056%
- −$2.81
- Slippage, 4 orders
- −$28.33
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$95.76
- Costs to cover
- 0.463%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 18 min ago; Aster: live order book, 3 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 Backpack live order book, 18 min ago | 4.93 bp | 15.3 bp −$15 | 43.2 bp −$432 | doesn't fit | doesn't fit |
| Sell Aster live order book, 3 min ago | 1.90 bp | 5.9 bp −$6 | 8.2 bp −$82 | 262.2 bp −$26.2K | 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 | 0.000004999 | −0.074% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000004998 | −0.080% | $3K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005002 | −0.008% | $59K | $122K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005006 | +0.066% | $96.5M | $319.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004994 | −0.168% | $159.3M | $69.3M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004998 | −0.092% | $24.9M | $58.7M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005008 | +0.116% | $44.4M | $158.1M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004998 | −0.093% | $557K | $4.5M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004981 | −0.428% | $46K | $387K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000004985 | −0.348% | $106K | $751K | 25x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
ApeX Omni 1000PEPEUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005010 | +0.154% | $2K | $2.5M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005003 | +0.006% | $554K | $3.6M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0100% | 8h | 0.000005009 | +0.140% | $2.4M | $6.8M | 50x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004997 | −0.106% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0197% | 8h | 0.000005013 | +0.212% | $44.3M | $553.6M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0271% | 8h | 0.000005012 | +0.196% | $32K | $22K | 20x | as long as short |
| BloFin PEPE-USDT | +0.0317% | 8h | 0.000005011 | +0.172% | $4.2M | $24.6M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0363% | 8h | 0.000005000 | −0.050% | $6K | $16 | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0424% | 1h | 0.000005013 | +0.212% | $614K | $28.6M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0441% | 1h | 0.000005013 | +0.212% | $2K | $12K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0444% | 8h | 0.000005001 | −0.032% | — | $2.3M | — | as long as short |
| MEXC PEPE_USDT | +0.0470% | 8h | 0.000005001 | −0.024% | $94.3M | $287.3M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0472% | 1h | 0.000005010 | +0.160% | $549K | $199K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0472% | 1h | 0.000005012 | +0.192% | $142K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0476% | 8h | 0.000005010 | +0.145% | $137.9M | $1.15B | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0503% / S −0.0409% | 1h | 0.000004000 | −20.038% | $62K | — | 100x | as long as short |
| Aster 1000PEPEUSDTshort | +0.0546% | 8h | 0.000005004 | +0.027% | $1.7M | $7.9M | 50x | |
| Nado kPEPE-PERP | +0.0644% | 1h | 0.000004994 | −0.158% | $172K | $880K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0748% | 1h | 0.000005013 | +0.212% | $61K | $114K | 25x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0768% | 1h | 0.000005002 | long leg | $102K | $622K | 15x | |
| Kraken Futures PF_PEPEUSD | +0.0832% | 1h | 0.000005008 | +0.121% | $3.9M | $14.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0864% | 1h | 0.000005021 | +0.372% | $1K | $2K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0909% | 1h | 0.000005010 | +0.152% | $4K | $102K | 12x | as long as short |
| Lighter 1000PEPE | +0.1264% | 1h | 0.000005014 | +0.232% | $647K | $6.8M | 10x | as long as short |
| Hyperliquid kPEPE | +0.2555% | 1h | 0.000005008 | +0.112% | $55.3M | $134.6M | 10x | as long as short |
SunX 1000PEPE-USDT
HTX PEPE-USDT
Phemex u1000PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Coinbase International 1000PEPE-PERP-INTX
SoDEX 1000PEPE-USD
BingX 1000PEPE-USDC
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL
Kraken Futures PF_PEPEUSD
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Lighter 1000PEPE
Hyperliquid kPEPE