Funding you earn now, next payment 23:00 UTC−0.0514%/8h= −56.2% APRpaid last 24h −0.095%
Price spread now: Gate against Backpack−0.044%7-day average −0.021% · you buy dearer than you sell
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$48as in the Price arb table
costs, in and out, $10k−$460.458% of the position
Funding, last 7 days−0.221%−$22 on $10k
+Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.044%, 7d avg −0.021%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Gate is 0.023% cheaper against Backpack than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.021%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.221% in total (about -11.5% 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 | 0.000004791 | 0.0614 | pay 0.0077% / 1h | 1m 51s | $92K | $616K | 15x |
| Short | Gate PEPE_USDT | 0.000004789 | 0.0100 | get 0.0100% / 8h | 1h 01m | $150.4M | $63.8M | 75x |
Backpack kPEPE_USDC_PERP
Gate PEPE_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$107.87
- Price spread: −0.044% → −0.021%
- −$2.26
- Slippage, 4 orders
- −$20.81
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$155.95
- Costs to cover
- 0.458%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 17 min ago; Gate: live order book, 2 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, 17 min ago | 3.23 bp | 11.8 bp −$12 | 30.4 bp −$304 | doesn't fit | doesn't fit |
| Sell Gate live order book, 2 min ago | 1.04 bp | 13.1 bp −$13 | 19.2 bp −$192 | 65.5 bp −$6,547 | 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 | 0.000004799 | +0.172% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004790 | −0.031% | $14K | — | 150x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004792 | +0.019% | $668K | $6.0M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004786 | −0.106% | $63.7M | $85.0M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004805 | +0.290% | $59K | $114K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004791 | +0.006% | $86.6M | $285.3M | 50x | as long as short |
| Gate PEPE_USDTshort | +0.0100% | 8h | 0.000004789 | −0.044% | $150.4M | $63.8M | 75x | |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004790 | −0.021% | $24.8M | $54.0M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000004790 | −0.017% | $42.2M | $149.1M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004787 | −0.089% | $542K | $4.0M | — | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Lighter 1000PEPE
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPEShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004789 | −0.038% | $28K | $345K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004801 | +0.202% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004793 | +0.040% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004801 | +0.209% | $543K | $3.5M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0168% | 1h | 0.000004792 | +0.019% | $81K | $94K | 25x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004795 | +0.076% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0220% | 8h | 0.000004795 | +0.081% | $41.3M | $493.3M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0246% | 8h | 0.000004796 | +0.108% | $5K | $16 | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0312% | 8h | 0.000004792 | +0.019% | $2.3M | $6.4M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0338% / S −0.0368% | 1h | 0.000004000 | −16.512% | $42K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0339% | 8h | 0.000004803 | +0.248% | $3.9M | $22.3M | 75x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0373% | 1h | 0.000004779 | −0.253% | $101K | $764K | 25x | as long as short |
| 01 Exchange kPEPEUSD | +0.0392% | 1h | 0.000004798 | +0.144% | $550 | $2K | 10x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0448% | 8h | 0.000004795 | +0.079% | $29K | $11K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0448% | 1h | 0.000004796 | +0.102% | $570K | $25.6M | 50x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0614% | 1h | 0.000004791 | long leg | $92K | $616K | 15x | |
| BingX 1000PEPE-USDT | +0.0708% | 8h | 0.000004792 | +0.015% | — | $256.4M | — | as long as short |
| Extended 1000PEPE-USD | +0.0728% | 1h | 0.000004792 | +0.023% | $529K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0728% | 1h | 0.000004797 | +0.123% | $136K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0729% | 8h | 0.000004793 | +0.033% | $92.7M | $286.6M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0730% | 8h | 0.000004793 | +0.050% | $130.5M | $1.05B | 75x | as long as short |
| Nado kPEPE-PERP | +0.0735% | 1h | 0.000004793 | +0.032% | $183K | $846K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0741% | 8h | 0.000004789 | −0.045% | $1.5M | $7.2M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0873% | 1h | 0.000004805 | +0.290% | $4K | $103K | 12x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1331% | 1h | 0.000004793 | +0.036% | $3.9M | $13.4M | 50x | as long as short |
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Deribit 1000PEPE_USDC-PERPETUAL
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
ApeX Omni 1000PEPEUSDT
01 Exchange kPEPEUSD
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Nado kPEPE-PERP
Aster 1000PEPEUSDT
Injective PEPE/USDC PERP
Kraken Futures PF_PEPEUSD