Funding you earn now, next payment 03:00 UTC+0.1288%/8h= +141.0% APRpaid last 24h +0.150%
Price spread now: Kraken Futures against Bybit−0.011%7-day average +0.031% · 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−$58as in the Price arb table
costs, in and out, $10k−$540.540% of the position
Funding, last 7 days+0.197%+$20 on $10k
+Price spread, last 4 days (all we have)+0.362%+$36 · spread now −0.011%, 7d avg +0.031%
=Funding pays, the price is against you. Kraken Futures is 0.041% cheaper against Bybit than usual: you would sell low and buy high (spread −0.011% now, against its 7-day average of +0.031%). If the spread goes back, that is −$4 on $10k: about 3 hours of funding at the current rate (+$39 a day). At the pace of the last 7 days (+0.197% in total) that is about 35 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.197% in total (about 10.3% 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 | Bybit 1000PEPEUSDT | 0.000005015 | 0.0100 | pay 0.0100% / 8h | 5h 32m | $98.0M | $337.0M | 50x |
| Short | Kraken Futures PF_PEPEUSD | 0.000005015 | 0.1388 | get 0.0173% / 1h | 32m 25s | $4.2M | $15.1M | 50x |
Bybit 1000PEPEUSDT
Kraken Futures PF_PEPEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Bybit. 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
- $270.38
- Price spread: −0.011% → +0.031%
- −$4.12
- Slippage, 4 orders
- −$32.99
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $212.27
- Costs to cover
- 0.540%
- Break-even
- 1.5 days
Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 2 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 Bybit live order book, 2 min ago | 1.01 bp | 9.6 bp −$10 | 14.7 bp −$147 | 34.9 bp −$3,490 | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 7.53 bp | 17.8 bp −$18 | 23.7 bp −$237 | 92.0 bp −$9,196 | 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 | 0.000005007 | −0.162% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005010 | −0.106% | $14K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005017 | +0.038% | $63K | $136K | 10x | as long as short |
| Bybit 1000PEPEUSDTlong | +0.0100% | 8h | 0.000005015 | long leg | $98.0M | $337.0M | 50x | |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005014 | −0.022% | $164.5M | $74.7M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005019 | +0.072% | $25.7M | $62.4M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005019 | +0.068% | $46.2M | $172.2M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005042 | +0.527% | $681K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005060 | +0.905% | $36K | $434K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005014 | −0.020% | $1K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
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 | 0.000004972 | −0.855% | $568K | $3.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005020 | +0.089% | $8K | — | 15x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0317% | 8h | 0.000005010 | −0.112% | $33K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0319% | 8h | 0.000005017 | +0.038% | $45.2M | $584.0M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0436% | 8h | 0.000005015 | −0.002% | $4.3M | $25.1M | 75x | as long as short |
| BingX 1000PEPE-USDT | +0.0575% | 8h | 0.000005018 | +0.060% | — | $261.0M | — | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0576% | 1h | 0.000005011 | −0.082% | $908K | $31.2M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0585% | 1h | 0.000005016 | +0.018% | $2K | $12K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0586% / S −0.0912% | 1h | 0.000005000 | −0.301% | $49K | — | 100x | as long as short |
| Extended 1000PEPE-USD | +0.0608% | 1h | 0.000005017 | +0.047% | $530K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0608% | 1h | 0.000004997 | −0.361% | $141K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0611% | 8h | 0.000005019 | +0.082% | $94.8M | $289.0M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0614% | 8h | 0.000005021 | +0.109% | $140.9M | $1.20B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0694% | 8h | 0.000005016 | +0.015% | $1.8M | $9.1M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0765% | 8h | 0.000005010 | −0.098% | $6K | — | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0860% | 1h | 0.000005059 | +0.875% | $99K | $752K | 25x | as long as short |
| Phemex u1000PEPEUSDT | +0.0880% | 8h | 0.000005015 | +0.002% | $2.3M | $7.0M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0885% | 1h | 0.000005018 | +0.064% | $181K | $870K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0936% | 1h | 0.000005018 | +0.060% | $95K | $624K | 15x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0949% | 1h | 0.000005011 | −0.082% | $61K | $114K | 25x | as long as short |
| 01 Exchange kPEPEUSD | +0.0968% | 1h | 0.000005024 | +0.177% | $606 | $3K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0973% | 1h | 0.000005105 | +1.793% | $4K | $102K | 12x | as long as short |
| Lighter 1000PEPE | +0.1312% | 1h | 0.000005019 | +0.078% | $695K | $8.0M | 10x | as long as short |
| Kraken Futures PF_PEPEUSDshort | +0.1388% | 1h | 0.000005015 | −0.011% | $4.2M | $15.1M | 50x | |
| Hyperliquid kPEPE | +0.1738% | 1h | 0.000005024 | +0.177% | $53.6M | $139.2M | 10x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
BingX 1000PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
SoDEX 1000PEPE-USD
GMX PEPE/USD [ETH-USDC]
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
Phemex u1000PEPEUSDT
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
Deribit 1000PEPE_USDC-PERPETUAL
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Lighter 1000PEPE
Hyperliquid kPEPE