Funding you earn now, next payment 01:00 UTC−0.0502%/8h= −55.0% APRpaid last 24h −0.089%
Price spread now: HTX against Backpack−0.485%7-day average +0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$84as in the Funding arb table
Net, price: spread back to 7d avg − costs−$120as in the Price arb table
costs, in and out, $10k−$690.694% of the position
Funding, last 7 days−0.150%−$15 on $10k
+Price spread, last 3 days (all we have)+0.541%+$54 · spread now −0.485%, 7d avg +0.019%
=Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and HTX is 0.504% cheaper against Backpack than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of +0.019%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.150% in total (about -7.8% 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 | 0.000005090 | 0.0602 | pay 0.0075% / 1h | 14m 42s | $97K | $601K | 15x |
| Short | HTX PEPE-USDT | 0.000005065 | 0.0100 | get 0.0100% / 8h | 7h 14m | $570K | $3.5M | 75x |
Backpack kPEPE_USDC_PERP
HTX PEPE-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$105.48
- Price spread: −0.485% → +0.019%
- −$50.43
- Slippage, 4 orders
- −$47.41
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$225.32
- Costs to cover
- 0.694%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 59 min ago; HTX: live order book, 4 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, 59 min ago | 2.22 bp | 14.2 bp −$14 | 38.6 bp −$386 | doesn't fit | doesn't fit |
| Sell HTX live order book, 4 min ago | 0.20 bp | 19.6 bp −$20 | 33.8 bp −$338 | 118.5 bp −$11.9K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PEPEUSD | −0.0115% | 1h | 0.000005088 | −0.025% | $4.0M | $14.2M | 50x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005064 | −0.512% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005074 | −0.310% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005071 | −0.367% | $60K | $120K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005070 | −0.385% | $95.3M | $308.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005076 | −0.269% | $162.8M | $68.4M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005078 | −0.230% | $26.1M | $57.0M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005069 | −0.399% | $44.9M | $154.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005052 | −0.746% | $591K | $4.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005019 | −1.389% | $52K | $380K | 20x | as long as short |
Kraken Futures PF_PEPEUSD
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
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 | 0.000005091 | +0.028% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005086 | −0.073% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDTshort | +0.0100% | 8h | 0.000005065 | −0.485% | $570K | $3.5M | 75x | |
| Phemex u1000PEPEUSDT | +0.0100% | 8h | 0.000005083 | −0.141% | $2.4M | $6.7M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0173% | 1h | 0.000005021 | −1.350% | $104K | $750K | 25x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005075 | −0.293% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0196% | 8h | 0.000005075 | −0.289% | $45.3M | $546.9M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0249% | 8h | 0.000005069 | −0.403% | $6K | $16 | 20x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0274% | 8h | 0.000005086 | −0.075% | $31K | $14K | 20x | as long as short |
| BloFin PEPE-USDT | +0.0313% | 8h | 0.000005087 | −0.053% | $4.2M | $24.4M | 75x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0368% | 1h | 0.000005088 | −0.033% | $694K | $28.0M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0457% | 8h | 0.000005073 | −0.322% | — | $257.5M | — | as long as short |
| MEXC PEPE_USDT | +0.0478% | 8h | 0.000005082 | −0.149% | $100.6M | $290.0M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0480% | 1h | 0.000005077 | −0.257% | $557K | $153K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0480% | 1h | 0.000005073 | −0.328% | $143K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0482% | 8h | 0.000005078 | −0.224% | $140.3M | $1.12B | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0489% / S −0.0822% | 1h | 0.000005000 | −1.762% | $48K | — | 100x | as long as short |
| Nado kPEPE-PERP | +0.0516% | 1h | 0.000005077 | −0.250% | $191K | $863K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0534% | 8h | 0.000005083 | −0.129% | $1.5M | $7.5M | 50x | as long as short |
| Lighter 1000PEPE | +0.0536% | 1h | 0.000005071 | −0.367% | $664K | $6.8M | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.0576% | 1h | 0.000005078 | −0.230% | $1K | $2K | 10x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0602% | 1h | 0.000005090 | long leg | $97K | $601K | 15x | |
| Injective PEPE/USDC PERP | +0.0636% | 1h | 0.000005084 | −0.112% | $4K | $102K | 12x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0931% | 1h | 0.000005088 | −0.033% | $62K | $114K | 25x | as long as short |
| Hyperliquid kPEPE | +0.1791% | 1h | 0.000005096 | +0.124% | $57.9M | $130.4M | 10x | as long as short |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
Phemex u1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
Orderly PERP_1000PEPE_USDC
BloFin PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Nado kPEPE-PERP
Aster 1000PEPEUSDT
Lighter 1000PEPE
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Deribit 1000PEPE_USDC-PERPETUAL
Hyperliquid kPEPE