Funding you earn now, next payment 05:00 UTC−0.0337%/8h= −36.9% APRpaid last 24h −0.080%
Price spread now: Bitget against Coinbase International−0.070%7-day average +0.026% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$470.473% of the position
Funding, last 7 days−0.076%−$8 on $10k
+Price spread, last 4 days (all we have)+0.095%+$9 · spread now −0.070%, 7d avg +0.026%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bitget is 0.096% cheaper against Coinbase International than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.026%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.076% in total (about -4.0% 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 | Coinbase International 1000PEPE-PERP-INTX | 0.000005029 | 0.0680 | pay 0.0085% / 1h | 41m 52s | $627K | $36.8M | 50x |
| Short | Bitget PEPEUSDT | 0.000005026 | 0.0343 | get 0.0343% / 8h | 2h 41m | $45.4M | $209.2M | 75x |
Coinbase International 1000PEPE-PERP-INTX
Bitget PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Coinbase International. 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
- −$70.77
- Price spread: −0.070% → +0.026%
- −$9.59
- Slippage, 4 orders
- −$25.35
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$127.71
- Costs to cover
- 0.473%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Bitget: 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 Coinbase International live order book, 2 min ago | 2.98 bp | 11.2 bp −$11 | 19.8 bp −$198 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 2 min ago | 2.29 bp | 9.3 bp −$9 | 11.4 bp −$114 | 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 | 0.000005024 | −0.095% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005018 | −0.211% | $3K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005029 | 0.000% | $58K | $176K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005023 | −0.127% | $99.0M | $401.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005016 | −0.259% | $162.2M | $93.5M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005025 | −0.082% | $25.2M | $70.4M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005051 | +0.430% | $595K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005030 | +0.023% | $28K | $538K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005029 | +0.008% | $2K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005026 | −0.062% | $565K | $4.1M | 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 | 0.000005024 | −0.096% | $8K | — | 15x | as long as short |
| SoDEX 1000PEPE-USD | +0.0202% | 1h | 0.000005028 | −0.020% | $2K | $10K | 10x | as long as short |
| Bitget PEPEUSDTshort | +0.0343% | 8h | 0.000005026 | −0.070% | $45.4M | $209.2M | 75x | |
| Orderly PERP_1000PEPE_USDC | +0.0411% | 8h | 0.000005026 | −0.054% | $33K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0420% | 8h | 0.000005026 | −0.060% | $46.4M | $682.4M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0542% | 8h | 0.000005028 | −0.020% | $4.4M | $27.9M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0547% | 1h | 0.000005026 | −0.060% | $72K | $127K | 25x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0547% | 8h | 0.000005029 | −0.005% | $6K | — | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0639% | 8h | 0.000005023 | −0.123% | $2.4M | $7.9M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0672% | 1h | 0.000005026 | −0.060% | $606 | $3K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0675% | 1h | 0.000005027 | −0.044% | $73K | $828K | 15x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXlong | +0.0680% | 1h | 0.000005029 | long leg | $627K | $36.8M | 50x | |
| Lighter 1000PEPE | +0.0752% | 1h | 0.000005031 | +0.040% | $599K | $9.0M | 10x | as long as short |
| BingX 1000PEPE-USDT | +0.0770% | 8h | 0.000005019 | −0.189% | — | $238.5M | — | as long as short |
| Nado kPEPE-PERP | +0.0772% | 1h | 0.000005026 | −0.061% | $167K | $942K | 10x | as long as short |
| Binance 1000PEPEUSDT | +0.0805% | 8h | 0.000005019 | −0.202% | $141.8M | $1.40B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0808% | 1h | 0.000005019 | −0.208% | $533K | $277K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0808% | 1h | 0.000005028 | −0.020% | $142K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0809% | 8h | 0.000005020 | −0.169% | $97.2M | $299.7M | 300x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0850% | 1h | 0.000005026 | −0.065% | $4.6M | $16.7M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0872% | 8h | 0.000005020 | −0.180% | $1.8M | $11.0M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.1005% | 1h | 0.000005046 | +0.338% | $155K | $814K | 25x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1075% / S −0.2001% | 1h | 0.000005000 | −0.577% | $64K | — | 100x | as long as short |
| Hyperliquid kPEPE | +0.1114% | 1h | 0.000005030 | +0.020% | $53.3M | $151.0M | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000005034 | +0.099% | $3K | $111K | 12x | as long as short |
Reya kPEPERUSDPERP
SoDEX 1000PEPE-USD
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Deribit 1000PEPE_USDC-PERPETUAL
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
Backpack kPEPE_USDC_PERP
Lighter 1000PEPE
BingX 1000PEPE-USDT
Nado kPEPE-PERP
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Kraken Futures PF_PEPEUSD
Aster 1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Hyperliquid kPEPE
Injective PEPE/USDC PERP