Funding you earn now, next payment 22:00 UTC−0.0166%/8h= −18.2% APRpaid last 24h +0.084%
Price spread now: Backpack against Binance−0.054%7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$340.344% of the position
Funding, last 7 days+0.189%+$19 on $10k
+Price spread, last 4 days (all we have)+0.205%+$20 · spread now −0.054%, 7d avg −0.028%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Backpack is 0.026% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.028%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.189%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance 1000PEPEUSDT | 0.000004810 | 0.0863 | pay 0.0863% / 8h | 2h 13m | $128.2M | $1.02B | 75x |
| Short | Backpack kPEPE_USDC_PERP | 0.000004807 | 0.0697 | get 0.0087% / 1h | 13m 04s | $92K | $622K | 15x |
Binance 1000PEPEUSDT
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Binance. 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
- −$34.88
- Price spread: −0.054% → −0.028%
- −$2.56
- Slippage, 4 orders
- −$14.37
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$71.82
- Costs to cover
- 0.344%
- Break-even
- never at this rate
Slippage from Binance: live order book, 16 min ago; Backpack: live order book, 11 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 Binance live order book, 16 min ago | 0.10 bp | 8.5 bp −$9 | 15.7 bp −$157 | 43.2 bp −$4,321 | doesn't fit |
| Sell Backpack live order book, 11 min ago | 0.10 bp | 5.4 bp −$5 | 17.0 bp −$170 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004812 | +0.047% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004799 | −0.220% | $14K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004808 | −0.040% | $58.1M | $72.1M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004816 | +0.127% | $59K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004805 | −0.102% | $87.5M | $275.3M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004801 | −0.185% | $149.9M | $62.2M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004807 | −0.058% | $25.0M | $53.2M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004810 | +0.008% | $559K | $3.8M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004818 | +0.166% | $27K | $342K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004822 | +0.256% | $2K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004807 | −0.069% | $553K | $3.4M | 75x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0167% | 8h | 0.000004810 | +0.002% | $41.3M | $485.0M | 50x | as long as short |
| Bitget PEPEUSDT | +0.0180% | 8h | 0.000004808 | −0.033% | $42.4M | $150.8M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004804 | −0.115% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0284% | 8h | 0.000004810 | +0.002% | $3.8M | $21.8M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0318% / S −0.0217% | 1h | 0.000004000 | −16.838% | $52K | — | 100x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0410% | 8h | 0.000004810 | +0.006% | $29K | $11K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004817 | +0.148% | $579K | $25.1M | 50x | as long as short |
| Phemex u1000PEPEUSDT | +0.0497% | 8h | 0.000004804 | −0.131% | $2.3M | $6.4M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0518% | 8h | 0.000004816 | +0.119% | $5K | $16 | 20x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004834 | +0.501% | $4K | $110K | 12x | as long as short |
| Lighter 1000PEPE | +0.0648% | 1h | 0.000004813 | +0.064% | $608K | $5.3M | 10x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0697% | 1h | 0.000004807 | −0.054% | $92K | $622K | 15x | |
| Nado kPEPE-PERP | +0.0743% | 1h | 0.000004807 | −0.062% | $188K | $848K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0762% | 1h | 0.000004808 | −0.039% | $3.9M | $13.1M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0765% | 1h | 0.000004818 | +0.168% | $102K | $761K | 25x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0791% | 1h | 0.000004807 | −0.060% | $81K | $94K | 25x | as long as short |
| SoDEX 1000PEPE-USD | +0.0804% | 1h | 0.000004809 | −0.019% | $2K | $9K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0813% | 8h | 0.000004808 | −0.031% | — | $2.3M | — | as long as short |
| MEXC PEPE_USDT | +0.0863% | 8h | 0.000004810 | +0.006% | $91.5M | $291.7M | 300x | as long as short |
| Binance 1000PEPEUSDTlong | +0.0863% | 8h | 0.000004810 | long leg | $128.2M | $1.02B | 75x | |
| Extended 1000PEPE-USD | +0.0864% | 1h | 0.000004809 | −0.028% | $529K | $147K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0864% | 1h | 0.000004800 | −0.206% | $136K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0896% | 8h | 0.000004810 | +0.012% | $1.5M | $6.8M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.1216% | 1h | 0.000004821 | +0.231% | $552 | $2K | 10x | as long as short |
HTX PEPE-USDT
OKX PEPE-USDT-SWAP
Bitget PEPEUSDT
Reya kPEPERUSDPERP
BloFin PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Phemex u1000PEPEUSDT
Paradex kPEPE-USD-PERP
Injective PEPE/USDC PERP
Lighter 1000PEPE
Nado kPEPE-PERP
Kraken Futures PF_PEPEUSD
ApeX Omni 1000PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
SoDEX 1000PEPE-USD
BingX 1000PEPE-USDC
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD