Funding you earn now, next payment 22:00 UTC−0.0876%/8h= −95.9% APRnext payment −$1.09 per $10,000 · paid last 24h +0.069%
Price spread now: Backpack against Deribit−0.151%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.195%+$20 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$26 a day on $10k at the current rate, and Backpack is 0.151% cheaper against Deribit than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.195%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.195% in total (about 10.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.09 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 | Deribit 1000PEPE_USDC-PERPETUAL | 0.000004901 | 0.0976 | pay 0.0122% / 1h | 57m 53s | $79K | $91K | 25x |
| Short | Backpack kPEPE_USDC_PERP | 0.000004894 | 0.0100 | get 0.0013% / 1h | 57m 53s | $97K | $593K | 15x |
Deribit 1000PEPE_USDC-PERPETUAL
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Deribit. 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
- −$183.92
- Price spread: −0.151% → 0.000%
- −$15.1
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$216.01
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Deribit: no order-book sample; Backpack: live order book, 31 min ago. 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 Deribit no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 31 min ago | 0.10 bp | 5.3 bp −$5 | 17.2 bp −$172 | doesn't fit | doesn't fit |
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 | 0.000004891 | −0.214% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004895 | −0.116% | $15K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004896 | −0.102% | $56.7M | $66.9M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004894 | −0.143% | $58K | $108K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004886 | −0.304% | $88.4M | $268.5M | 50x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0100% | 8h | 0.000004888 | −0.265% | $42.8M | $489.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004895 | −0.122% | $149.2M | $59.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004896 | −0.100% | $25.0M | $49.6M | 75x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0100% | 1h | 0.000004894 | −0.151% | $97K | $593K | 15x | |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004925 | +0.481% | $724K | $3.8M | — | 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 1000PEPEShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004930 | +0.589% | $28K | $336K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004905 | +0.086% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004898 | −0.061% | $2K | $9K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004890 | −0.226% | $563K | $3.8M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0183% | 8h | 0.000004897 | −0.078% | $45.9M | $141.5M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004902 | +0.024% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0220% | 8h | 0.000004909 | +0.163% | $4.0M | $21.8M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0310% / S −0.0261% | 1h | 0.000004000 | −18.384% | $48K | — | 100x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0342% | 8h | 0.000004898 | −0.059% | $31K | $10K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0360% | 8h | 0.000004898 | −0.069% | $5K | $26 | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0374% | 1h | 0.000004926 | +0.510% | $102K | $755K | 25x | as long as short |
| Lighter 1000PEPE | +0.0424% | 1h | 0.000004899 | −0.041% | $594K | $4.9M | 10x | as long as short |
| Phemex u1000PEPEUSDT | +0.0441% | 8h | 0.000004891 | −0.212% | $2.4M | $6.2M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004907 | +0.122% | $631K | $25.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0544% | 1h | 0.000004906 | +0.102% | $562 | $2K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004922 | +0.428% | $4K | $92K | 12x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0748% | 1h | 0.000004898 | −0.059% | $3.9M | $12.5M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0767% | 8h | 0.000004899 | −0.037% | — | $2.3M | — | as long as short |
| Binance 1000PEPEUSDT | +0.0796% | 8h | 0.000004895 | −0.118% | $131.5M | $993.6M | 75x | as long as short |
| MEXC PEPE_USDT | +0.0799% | 8h | 0.000004898 | −0.071% | $125.4M | $278.9M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0800% | 1h | 0.000004897 | −0.076% | $537K | $146K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000004893 | −0.163% | $138K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0868% | 8h | 0.000004896 | −0.110% | $1.5M | $6.9M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALlong | +0.0976% | 1h | 0.000004901 | long leg | $79K | $91K | 25x | |
| Nado kPEPE-PERP | +0.0982% | 1h | 0.000004904 | +0.064% | $193K | $857K | 10x | as long as short |
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Bitget PEPEUSDT
Reya kPEPERUSDPERP
BloFin PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
Lighter 1000PEPE
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDC
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Nado kPEPE-PERP