Funding you earn now, next payment 01:00 UTC−0.0030%/8h= −3.2% APRnext payment −$0.04 per $10,000 · paid last 24h −0.043%
Price spread now: Nado against Backpack−0.410%7-day average 0.000% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$87as in the Price arb table
costs, in and out, $10k−$460.465% of the position
Funding, last 3 days (all we have)−0.048%−$5 on $10k
+Price spread, last 3 days (all we have)+0.455%+$45 · spread now −0.410%, 7d avg 0.000%
=Together, before fees+0.407%+ Points / potential airdropNado: Active · farm board+$41 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado is 0.410% cheaper against Backpack than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of 0.000%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack kPEPE_USDC_PERP | 0.000005020 | 0.0564 | pay 0.0071% / 1h | 18m 23s | $95K | $601K | 15x |
| Short | Nado kPEPE-PERP | 0.000005000 | 0.0535 | get 0.0067% / 1h | 18m 23s | $190K | $862K | 10x |
Backpack kPEPE_USDC_PERP
Nado kPEPE-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$6.23
- Price spread: −0.410% → 0.000%
- −$41.02
- Slippage, 4 orders
- −$29.48
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$93.73
- Costs to cover
- 0.465%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 55 min ago; Nado: live order book, 55 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 | 2.22 bp | 14.2 bp −$14 | 38.6 bp −$386 | doesn't fit | doesn't fit |
| Sell Nado live order book, 55 min ago | 3.17 bp | 10.5 bp −$10 | 27.2 bp −$272 | doesn't fit | 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 | −0.0117% | 1h | 0.000005019 | −0.019% | $3.9M | $14.2M | 50x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004997 | −0.460% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005008 | −0.241% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005007 | −0.263% | $59K | $120K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005012 | −0.161% | $94.0M | $307.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004999 | −0.422% | $160.6M | $67.9M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004996 | −0.482% | $25.7M | $57.0M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005012 | −0.153% | $43.8M | $153.7M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005008 | −0.250% | $576K | $4.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005015 | −0.102% | $52K | $379K | 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 | 0.000005023 | +0.058% | $1K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005015 | −0.104% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005043 | +0.456% | $569K | $3.5M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0100% | 8h | 0.000005011 | −0.191% | $2.4M | $6.7M | 50x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005003 | −0.341% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0190% | 8h | 0.000005015 | −0.104% | $44.6M | $538.1M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0232% | 8h | 0.000004998 | −0.443% | $6K | $16 | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0242% | 1h | 0.000005019 | −0.024% | $104K | $749K | 25x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0277% | 8h | 0.000005013 | −0.149% | $31K | $14K | 20x | as long as short |
| BloFin PEPE-USDT | +0.0308% | 8h | 0.000005011 | −0.183% | $4.0M | $23.9M | 75x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0368% | 1h | 0.000004998 | −0.442% | $676K | $27.4M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0465% | 8h | 0.000005000 | −0.392% | — | $2.3M | — | as long as short |
| Lighter 1000PEPE | +0.0472% | 1h | 0.000005009 | −0.223% | $656K | $6.8M | 10x | as long as short |
| Extended 1000PEPE-USD | +0.0480% | 1h | 0.000005016 | −0.088% | $552K | $148K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0480% | 8h | 0.000005006 | −0.285% | $98.9M | $287.8M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0480% | 1h | 0.000005006 | −0.283% | $142K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0481% | 8h | 0.000005012 | −0.154% | $138.5M | $1.11B | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0484% / S −0.0459% | 1h | 0.000005000 | −0.402% | $58K | — | 100x | as long as short |
| Aster 1000PEPEUSDT | +0.0528% | 8h | 0.000005001 | −0.373% | $1.4M | $7.5M | 50x | as long as short |
| Nado kPEPE-PERPshort | +0.0535% | 1h | 0.000005000 | −0.410% | $190K | $862K | 10x | |
| 01 Exchange kPEPEUSD | +0.0536% | 1h | 0.000005007 | −0.263% | $1K | $2K | 10x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0564% | 1h | 0.000005020 | long leg | $95K | $601K | 15x | |
| Injective PEPE/USDC PERP | +0.0636% | 1h | 0.000005029 | +0.175% | $4K | $102K | 12x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0748% | 1h | 0.000005015 | −0.104% | $61K | $114K | 25x | as long as short |
| Hyperliquid kPEPE | +0.1498% | 1h | 0.000005027 | +0.135% | $57.4M | $128.3M | 10x | as long as short |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Phemex u1000PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
Orderly PERP_1000PEPE_USDC
BloFin PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDC
Lighter 1000PEPE
Extended 1000PEPE-USD
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Deribit 1000PEPE_USDC-PERPETUAL
Hyperliquid kPEPE