Funding you earn now, next payment 22:00 UTC+0.0194%/8h= +21.2% APRpaid last 24h +0.004%
Price spread now: Deribit against Bitget−0.232%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.025%+$2 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Deribit is 0.232% cheaper against Bitget than usual: you would sell low and buy high (spread −0.232% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 4.0 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.025% in total) that is about 2 months. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.025% in total (about 1.3% 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 | Bitget PEPEUSDT | 0.000004837 | 0.0178 | pay 0.0178% / 8h | 2h 52m | $43.5M | $148.5M | 75x |
| Short | Deribit 1000PEPE_USDC-PERPETUAL | 0.000004826 | 0.0372 | get 0.0047% / 1h | 52m 29s | $81K | $94K | 25x |
Bitget PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Bitget. 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
- $40.74
- Price spread: −0.232% → 0.000%
- −$23.15
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$1.41
- Costs to cover
- 0.190%
- Break-even
- 7.2 days
Slippage unknown: Bitget: live order book, 2 min ago; Deribit: no order-book sample. Net counts fees only.
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 Bitget live order book, 2 min ago | 2.29 bp | 8.3 bp −$8 | 8.6 bp −$86 | 19.3 bp −$1,932 | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.000004822 | −0.305% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000004841 | +0.074% | $14K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004838 | +0.017% | $56.0M | $68.2M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004825 | −0.252% | $57K | $108K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004847 | +0.194% | $88.9M | $271.6M | 50x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0100% | 8h | 0.000004849 | +0.244% | $41.4M | $490.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004831 | −0.128% | $147.3M | $60.4M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004843 | +0.126% | $23.6M | $49.9M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004889 | +1.081% | $719K | $3.8M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004900 | +1.298% | $28K | $336K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
OKX PEPE-USDT-SWAP
Gate PEPE_USDT
KuCoin PEPEUSDTM
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 | 0.000004836 | −0.029% | $2K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004842 | +0.108% | $550K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDTlong | +0.0178% | 8h | 0.000004837 | long leg | $43.5M | $148.5M | 75x | |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004839 | +0.029% | $7K | — | 15x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0218% | 1h | 0.000004828 | −0.188% | $110K | $619K | 15x | as long as short |
| BloFin PEPE-USDT | +0.0220% | 8h | 0.000004828 | −0.190% | $3.9M | $21.6M | 75x | as long as short |
| Lighter 1000PEPE | +0.0240% | 1h | 0.000004825 | −0.252% | $540K | $5.0M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0313% / S −0.0367% | 1h | 0.000004000 | −17.308% | $41K | — | 100x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0341% | 8h | 0.000004828 | −0.192% | $5K | $16 | 20x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0350% | 8h | 0.000004843 | +0.112% | $30K | $10K | 20x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALshort | +0.0372% | 1h | 0.000004826 | −0.232% | $81K | $94K | 25x | |
| Phemex u1000PEPEUSDT | +0.0447% | 8h | 0.000004834 | −0.064% | $2.3M | $6.3M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004826 | −0.232% | $584K | $25.3M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004814 | −0.480% | $4K | $92K | 12x | as long as short |
| SoDEX 1000PEPE-USD | +0.0560% | 1h | 0.000004827 | −0.211% | $2K | $9K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0699% | 1h | 0.000004891 | +1.112% | $101K | $755K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0725% | 1h | 0.000004836 | −0.025% | $180K | $868K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0759% | 1h | 0.000004824 | −0.269% | $3.8M | $12.8M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0763% | 8h | 0.000004839 | +0.043% | — | $2.3M | — | as long as short |
| Binance 1000PEPEUSDT | +0.0789% | 8h | 0.000004847 | +0.206% | $130.2M | $1.01B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0790% | 8h | 0.000004849 | +0.240% | $96.4M | $286.1M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0792% | 1h | 0.000004828 | −0.193% | $529K | $146K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0792% | 1h | 0.000004847 | +0.203% | $137K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0841% | 8h | 0.000004829 | −0.177% | $1.5M | $6.8M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.1936% | 1h | 0.000004839 | +0.037% | $554 | $2K | 10x | as long as short |
SunX 1000PEPE-USDT
HTX PEPE-USDT
Reya kPEPERUSDPERP
Backpack kPEPE_USDC_PERP
BloFin PEPE-USDT
Lighter 1000PEPE
GMX PEPE/USD [ETH-USDC]
Paradex kPEPE-USD-PERP
Orderly PERP_1000PEPE_USDC
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
Injective PEPE/USDC PERP
SoDEX 1000PEPE-USD
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDC
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD