Funding you earn now, next payment 04:00 UTC−0.0337%/8h= −36.9% APRpaid last 24h −0.082%
Price spread now: MEXC against Backpack+0.598%7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs+$40as in the Price arb table
costs, in and out, $10k−$170.169% of the position
Funding, last 7 days−0.191%−$19 on $10k
+Price spread, last 4 days (all we have)−0.499%−$50 · spread now +0.598%, 7d avg +0.032%
=The price spread pays, funding is against you. MEXC is 0.566% dearer against Backpack than usual: you sell high and buy low (spread +0.598% now, against its 7-day average of +0.032%): +$57 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 5.6 days. At the pace of the last 7 days (−0.191% in total) that is about 21 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.191% in total (about -10.0% 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 | 0.000005237 | 0.1104 | pay 0.0138% / 1h | 3m 27s | $73K | $701K | 15x |
| Short | MEXC PEPE_USDT | 0.000005268 | 0.0767 | get 0.0767% / 8h | 4h 03m | $102.4M | $294.0M | 300x |
Backpack kPEPE_USDC_PERP
MEXC PEPE_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
MEXC 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
- −$70.79
- Price spread: +0.598% → +0.032%
- $56.55
- Slippage, 4 orders
- −$6.91
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee MEXC: 0 bp × 2 orders
- $0
- Net
- −$31.15
- Costs to cover
- 0.169%
- Break-even
- from the start
Slippage from Backpack: live order book, 55 min ago; MEXC: live order book, 6 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, 55 min ago | 0.10 bp | 7.3 bp −$7 | 35.6 bp −$356 | doesn't fit | doesn't fit |
| Sell MEXC live order book, 6 min ago | 0.57 bp | 1.8 bp −$2 | 19.2 bp −$192 | 49.7 bp −$4,971 | 88.0 bp −$44.0K |
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 | 0.000005236 | −0.011% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005249 | +0.229% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005242 | +0.103% | $68K | $147K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005248 | +0.220% | $101.9M | $363.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005260 | +0.447% | $171.2M | $83.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005244 | +0.134% | $27.1M | $66.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005177 | −1.146% | $822K | $4.9M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005181 | −1.056% | $37K | $491K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005206 | −0.592% | $2K | $2.5M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005205 | −0.602% | $603K | $3.8M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005265 | +0.550% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0231% | 8h | 0.000005264 | +0.519% | $48.7M | $182.8M | 75x | as long as short |
| Injective PEPE/USDC PERP | +0.0254% | 1h | 0.000005212 | −0.470% | $3K | $110K | 12x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0366% | 8h | 0.000005253 | +0.319% | $35K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0403% | 8h | 0.000005258 | +0.409% | $50.7M | $652.9M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0523% | 8h | 0.000005181 | −1.062% | $4.5M | $27.0M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0627% | 8h | 0.000005237 | +0.010% | $2.6M | $7.3M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0672% | 1h | 0.000005228 | −0.164% | $789K | $35.1M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0725% | 8h | 0.000005252 | +0.302% | — | $2.3M | — | as long as short |
| SoDEX 1000PEPE-USD | +0.0757% | 1h | 0.000005198 | −0.737% | $2K | $10K | 10x | as long as short |
| MEXC PEPE_USDTshort | +0.0767% | 8h | 0.000005268 | +0.598% | $102.4M | $294.0M | 300x | |
| Binance 1000PEPEUSDT | +0.0768% | 8h | 0.000005255 | +0.353% | $151.1M | $1.28B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0768% | 1h | 0.000005239 | +0.052% | $556K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0768% | 1h | 0.000005196 | −0.775% | $147K | — | 3x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0807% | 8h | 0.000005239 | +0.054% | $6K | — | 20x | as long as short |
| Lighter 1000PEPE | +0.0816% | 1h | 0.000005244 | +0.141% | $639K | $8.4M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0841% / S −0.1707% | 1h | 0.000005000 | −4.518% | $64K | — | 100x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0872% | 1h | 0.000005178 | −1.119% | $104K | $746K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0882% | 8h | 0.000005247 | +0.191% | $1.9M | $9.8M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0905% | 1h | 0.000005200 | −0.699% | $73K | $125K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0932% | 1h | 0.000005268 | +0.592% | $191K | $905K | 10x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.1104% | 1h | 0.000005237 | long leg | $73K | $701K | 15x | |
| 01 Exchange kPEPEUSD | +0.1120% | 1h | 0.000005253 | +0.313% | $634 | $3K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1246% | 1h | 0.000005229 | −0.149% | $4.8M | $16.1M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1567% | 1h | 0.000005272 | +0.676% | $57.1M | $143.1M | 10x | as long as short |
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Injective PEPE/USDC PERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDC
SoDEX 1000PEPE-USD
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Paradex kPEPE-USD-PERP
Lighter 1000PEPE
GMX PEPE/USD [ETH-USDC]
ApeX Omni 1000PEPEUSDT
Aster 1000PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
Nado kPEPE-PERP
01 Exchange kPEPEUSD
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE