Funding you earn now, next payment 21:00 UTC+0.0293%/8h= +32.1% APRnext payment +$0.37 per $10,000 · paid last 24h +0.078%
Price spread now: Kraken Futures against Coinbase International−0.077%7-day average −0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$58as in the Price arb table
costs, in and out, $10k−$520.517% of the position
Funding, last 7 days+0.099%+$10 on $10k
+Price spread, last 3 days (all we have)+0.243%+$24 · spread now −0.077%, 7d avg −0.018%
=Funding pays, the price is against you. Kraken Futures is 0.060% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.077% now, against its 7-day average of −0.018%). If the spread goes back, that is −$6 on $10k: about 16 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.099% in total) that is about 4.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.099% in total (about 5.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.37 per $10,000. 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 | 0.000004841 | 0.0464 | pay 0.0058% / 1h | 21m 09s | $580K | $25.3M | 50x |
| Short | Kraken Futures PF_PEPEUSD | 0.000004837 | 0.0757 | get 0.0095% / 1h | 21m 09s | $3.9M | $13.0M | 50x |
Coinbase International 1000PEPE-PERP-INTX
Kraken Futures PF_PEPEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $61.53
- Price spread: −0.077% → −0.018%
- −$5.95
- Slippage, 4 orders
- −$31.68
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $3.9
- Costs to cover
- 0.517%
- Break-even
- 6.6 days
Slippage from Coinbase International: live order book, 3 min ago; Kraken Futures: live order book, 3 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 | 4.12 bp | 11.1 bp −$11 | 15.9 bp −$159 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 8.55 bp | 13.7 bp −$14 | 19.4 bp −$194 | 107.1 bp −$10.7K | 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 | 0.000004844 | +0.068% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004835 | −0.120% | $14K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004833 | −0.165% | $57.9M | $71.4M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004852 | +0.227% | $60K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004832 | −0.186% | $88.1M | $274.7M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004833 | −0.165% | $151.0M | $62.1M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004837 | −0.078% | $25.1M | $53.1M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004837 | −0.076% | $705K | $3.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004858 | +0.352% | $27K | $338K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004854 | +0.273% | $1K | $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 | 0.000004852 | +0.225% | $559K | $3.5M | 75x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0152% | 8h | 0.000004835 | −0.124% | $41.5M | $488.2M | 50x | as long as short |
| Bitget PEPEUSDT | +0.0180% | 8h | 0.000004832 | −0.186% | $42.8M | $152.0M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004839 | −0.044% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0271% | 8h | 0.000004842 | +0.021% | $3.8M | $21.9M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0318% / S −0.0217% | 1h | 0.000004000 | −17.372% | $52K | — | 100x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0399% | 8h | 0.000004844 | +0.070% | $30K | $11K | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0456% | 8h | 0.000004836 | −0.109% | $2.3M | $6.4M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXlong | +0.0464% | 1h | 0.000004841 | long leg | $580K | $25.3M | 50x | |
| Paradex kPEPE-USD-PERP | +0.0484% | 8h | 0.000004852 | +0.228% | $5K | $16 | 20x | as long as short |
| Lighter 1000PEPE | +0.0504% | 1h | 0.000004842 | +0.021% | $615K | $5.2M | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004861 | +0.413% | $4K | $110K | 12x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0668% | 1h | 0.000004835 | −0.134% | $93K | $623K | 15x | as long as short |
| Nado kPEPE-PERP | +0.0699% | 1h | 0.000004849 | +0.172% | $192K | $847K | 10x | as long as short |
| Kraken Futures PF_PEPEUSDshort | +0.0757% | 1h | 0.000004837 | −0.077% | $3.9M | $13.0M | 50x | |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0784% | 1h | 0.000004841 | 0.000% | $82K | $94K | 25x | as long as short |
| BingX 1000PEPE-USDT | +0.0808% | 8h | 0.000004836 | −0.112% | — | $255.0M | — | as long as short |
| SoDEX 1000PEPE-USD | +0.0811% | 1h | 0.000004838 | −0.062% | $2K | $9K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0840% | 1h | 0.000004860 | +0.392% | $101K | $761K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0848% | 1h | 0.000004844 | +0.062% | $137K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0852% | 8h | 0.000004838 | −0.062% | $91.1M | $290.8M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0855% | 8h | 0.000004837 | −0.091% | $128.7M | $1.02B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0856% | 1h | 0.000004838 | −0.058% | $532K | $147K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0893% | 8h | 0.000004841 | −0.010% | $1.5M | $6.8M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.1232% | 1h | 0.000004855 | +0.289% | $556 | $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
Phemex u1000PEPEUSDT
Paradex kPEPE-USD-PERP
Lighter 1000PEPE
Injective PEPE/USDC PERP
Backpack kPEPE_USDC_PERP
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL
BingX 1000PEPE-USDT
SoDEX 1000PEPE-USD
ApeX Omni 1000PEPEUSDT
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD