Funding you earn now, next payment 22:00 UTC−0.0348%/8h= −38.1% APRnext payment −$0.43 per $10,000 · paid last 24h +0.049%
Price spread now: Hyperliquid against Coinbase International−0.270%7-day average +0.103% · you buy dearer than you sell
Net, funding: paid 7d − costs+$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$74as in the Price arb table
costs, in and out, $10k−$360.364% of the position
Funding, last 7 days+0.419%+$42 on $10k
+Price spread, last 3 days (all we have)+0.408%+$41 · spread now −0.270%, 7d avg +0.103%
=Together, before fees+0.827%+ Points / potential airdropHyperliquid: Season 2 · farm board+$83 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Hyperliquid is 0.373% cheaper against Coinbase International than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of +0.103%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.419%, 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 | Coinbase International 1000PEPE-PERP-INTX | 0.000004815 | 0.0448 | pay 0.0056% / 1h | 21m 07s | $594K | $25.7M | 50x |
| Short | Hyperliquid kPEPE | 0.000004802 | 0.0100 | get 0.0013% / 1h | 21m 07s | $62.7M | $80.6M | 10x |
Coinbase International 1000PEPE-PERP-INTX
Hyperliquid kPEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$73.08
- Price spread: −0.270% → +0.103%
- −$37.31
- Slippage, 4 orders
- −$17.44
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$146.83
- Costs to cover
- 0.364%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 3 min ago; Hyperliquid: live order book, 13 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, 3 min ago | 3.12 bp | 13.4 bp −$13 | 19.4 bp −$194 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 13 min ago | 1.04 bp | 7.4 bp −$7 | 11.0 bp −$110 | 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 | 0.000004811 | −0.076% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004811 | −0.091% | $14K | — | 150x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004817 | +0.042% | $669K | $5.8M | 10x | as long as short |
| Hyperliquid kPEPEshort | +0.0100% | 1h | 0.000004802 | −0.270% | $62.7M | $80.6M | 10x | |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004816 | +0.021% | $60K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004812 | −0.062% | $87.1M | $281.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004811 | −0.083% | $150.3M | $63.1M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004814 | −0.021% | $24.8M | $54.1M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004813 | −0.044% | $537K | $4.0M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004812 | −0.052% | $27K | $343K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Lighter 1000PEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
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 | 0.000004823 | +0.168% | $1K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004817 | +0.042% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004819 | +0.077% | $544K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0130% | 8h | 0.000004811 | −0.083% | $42.3M | $152.1M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004815 | +0.001% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0206% | 8h | 0.000004810 | −0.104% | $41.9M | $492.5M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0311% | 8h | 0.000004804 | −0.225% | $5K | $16 | 20x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0314% / S −0.0332% | 1h | 0.000004000 | −16.926% | $43K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0325% | 8h | 0.000004815 | 0.000% | $3.9M | $22.2M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0359% | 8h | 0.000004813 | −0.039% | $2.3M | $6.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0408% | 1h | 0.000004816 | +0.021% | $552 | $2K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXlong | +0.0448% | 1h | 0.000004815 | long leg | $594K | $25.7M | 50x | |
| Orderly PERP_1000PEPE_USDC | +0.0449% | 8h | 0.000004814 | −0.017% | $29K | $11K | 20x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0583% | 1h | 0.000004809 | −0.127% | $92K | $615K | 15x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0605% | 1h | 0.000004813 | −0.042% | $102K | $763K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0752% | 1h | 0.000004815 | +0.003% | $186K | $853K | 10x | as long as short |
| BingX 1000PEPE-USDT | +0.0766% | 8h | 0.000004810 | −0.102% | — | $256.3M | — | as long as short |
| Extended 1000PEPE-USD | +0.0784% | 1h | 0.000004816 | +0.020% | $529K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0784% | 1h | 0.000004816 | +0.021% | $136K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0785% | 8h | 0.000004814 | −0.020% | $130.5M | $1.04B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0788% | 8h | 0.000004806 | −0.187% | $91.3M | $285.0M | 300x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0789% | 1h | 0.000004816 | +0.021% | $81K | $94K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0802% | 8h | 0.000004814 | −0.013% | $1.5M | $7.1M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0873% | 1h | 0.000004814 | −0.021% | $4K | $103K | 12x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1325% | 1h | 0.000004815 | −0.002% | $3.9M | $13.3M | 50x | as long as short |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Bitget PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
Orderly PERP_1000PEPE_USDC
Backpack kPEPE_USDC_PERP
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Deribit 1000PEPE_USDC-PERPETUAL
Aster 1000PEPEUSDT
Injective PEPE/USDC PERP
Kraken Futures PF_PEPEUSD