PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0116%/8h= +12.7% APRnext payment +$0.14 per $10,000 · paid last 24h +0.004%

Price spread now: Lighter against Backpack−0.022%7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Backpack Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)−0.332%−$33 · spread now −0.022%, 7d avg +0.043%

Together, before fees−0.386%+ Points / potential airdropLighter: Season 3 · farm board−$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.064% cheaper against Backpack than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.043%). If the spread goes back, that is −$6 on $10k: about 44 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.054%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack kPEPE_USDC_PERP	0.000005061	0.0892	pay 0.0112% / 1h	52m 53s	$94K	$641K	15x
Short	Lighter 1000PEPE	0.000005060	0.1008	get 0.0126% / 1h	52m 53s	$623K	$8.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee LighterbpOrdersPrice spread, now −0.022%Rate

Funding earned: $24.35
Price spread: −0.022% → +0.043%: −$6.44
Slippage, 4 orders: −$18.4
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.49
Costs to cover: 0.284%
Break-even: 10.0 days

Slippage from Backpack: live order book, 6 min ago; Lighter: live order book, 5 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, 6 min ago	0.10 bp	7.3 bp −$7	35.6 bp −$356	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	3.95 bp	7.2 bp −$7	16.4 bp −$164	45.3 bp −$4,527	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	0.000005036	−0.494%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005051	−0.196%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005042	−0.377%	$64K	$140K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005049	−0.239%	$98.4M	$343.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005057	−0.081%	$167.0M	$75.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005056	−0.091%	$26.0M	$63.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005057	−0.088%	$679K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005062	+0.017%	$31K	$450K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005048	−0.253%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005042	−0.371%	$574K	$3.6M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0153%	8h	0.000005058	−0.067%	$46.0M	$173.8M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0166%	1h	0.000005043	−0.358%	$100K	$742K	25x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005050	−0.217%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	−0.338%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0328%	8h	0.000005058	−0.069%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0363%	8h	0.000005052	−0.180%	$45.9M	$593.6M	50x	as long as short
BloFin PEPE-USDT	+0.0479%	8h	0.000005055	−0.121%	$4.3M	$25.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0537%	1h	0.000005058	−0.061%	$2K	$12K	10x	as long as short
BingX 1000PEPE-USDC	+0.0625%	8h	0.000005053	−0.164%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0664%	1h	0.000005058	−0.053%	$535K	$226K	25x	as long as short
MEXC PEPE_USDT	+0.0664%	8h	0.000005058	−0.053%	$94.3M	$286.3M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0664%	1h	0.000005049	−0.239%	$143K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0667%	8h	0.000005055	−0.121%	$142.0M	$1.22B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0669% / S −0.1040%	1h	0.000005000	−1.207%	$50K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005041	−0.397%	$954K	$31.7M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0687%	8h	0.000005051	−0.202%	$2.4M	$7.1M	50x	as long as short
Aster 1000PEPEUSDT	+0.0760%	8h	0.000005059	−0.043%	$1.8M	$9.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0802%	8h	0.000005040	−0.407%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0835%	1h	0.000005050	−0.219%	$190K	$874K	10x	as long as short
Backpack kPEPE_USDC_PERPlong	+0.0892%	1h	0.000005061	long leg	$94K	$641K	15x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0937%	1h	0.000005060	−0.022%	$71K	$124K	25x	as long as short
01 Exchange kPEPEUSD	+0.0976%	1h	0.000005055	−0.121%	$610	$3K	10x	as long as short
Lighter 1000PEPEshort	+0.1008%	1h	0.000005060	−0.022%	$623K	$8.1M	10x
Kraken Futures PF_PEPEUSD	+0.1288%	1h	0.000005057	−0.077%	$4.4M	$15.4M	50x	as long as short
Hyperliquid kPEPE	+0.1463%	1h	0.000005067	+0.117%	$54.3M	$139.8M	10x	as long as short