Funding you earn now, next payment 01:00 UTC−0.0883%/8h= −96.7% APRnext payment −$1.10 per $10,000 · paid last 24h +0.028%
Price spread now: Hyperliquid against Deribit+0.246%50s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.397%+$40 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
The price spread pays, funding is against you. Hyperliquid is 0.246% dearer against Deribit than usual: you sell high and buy low (spread +0.246% now, against zero (this spread has no 7-day history yet)): +$25 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 22 hours. Mind the row above: over the last 7 days funding on this pair paid +0.397%, so the current rate has only just turned against you. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.397% in total (about 20.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.10 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 | 0.000004871 | 0.0983 | pay 0.0123% / 1h | 43m 23s | $78K | $98K | 25x |
| Short | Hyperliquid kPEPE | 0.000004883 | 0.0100 | get 0.0013% / 1h | 43m 23s | $62.5M | $108.8M | 10x |
Deribit 1000PEPE_USDC-PERPETUAL
Hyperliquid kPEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- −$185.49
- Price spread: +0.246% → 0.000%
- $24.64
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$176.86
- Costs to cover
- 0.160%
- Break-even
- from the start
Slippage unknown: Deribit: no order-book sample; Hyperliquid: live order book, 10 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 Hyperliquid live order book, 10 min ago | 1.04 bp | 10.9 bp −$11 | 14.8 bp −$148 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PEPEUSD | −0.0120% | 1h | 0.000004870 | −0.025% | $3.9M | $14.0M | 50x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004873 | +0.046% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004883 | +0.257% | $15K | — | 150x | as long as short |
| Hyperliquid kPEPEshort | +0.0100% | 1h | 0.000004883 | +0.246% | $62.5M | $108.8M | 10x | |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004879 | +0.164% | $57K | $119K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004885 | +0.296% | $89.4M | $300.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004877 | +0.123% | $155.3M | $65.2M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004881 | +0.197% | $24.5M | $55.8M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000004881 | +0.209% | $43.0M | $152.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004859 | −0.252% | $574K | $4.3M | — | as long as short |
Kraken Futures PF_PEPEUSD
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
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 | 0.000004868 | −0.057% | $26K | $353K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004877 | +0.117% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004870 | −0.021% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004871 | −0.010% | $552K | $3.5M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0100% | 8h | 0.000004869 | −0.031% | $2.3M | $6.5M | 50x | as long as short |
| Lighter 1000PEPE | +0.0128% | 1h | 0.000004881 | +0.205% | $573K | $6.7M | 10x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0183% | 8h | 0.000004877 | +0.126% | $5K | $16 | 20x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004882 | +0.236% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0192% | 8h | 0.000004890 | +0.390% | $43.1M | $518.2M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0308% | 8h | 0.000004869 | −0.041% | $4.0M | $23.1M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0309% | 8h | 0.000004891 | +0.400% | $30K | $13K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0368% | 1h | 0.000004872 | +0.021% | $554K | $26.4M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0386% | 1h | 0.000004882 | +0.235% | $185K | $849K | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.0408% | 1h | 0.000004884 | +0.267% | $1K | $2K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0447% / S −0.0661% | 1h | 0.000004000 | −17.881% | $46K | — | 100x | as long as short |
| BingX 1000PEPE-USDT | +0.0506% | 8h | 0.000004888 | +0.357% | — | $256.4M | — | as long as short |
| Extended 1000PEPE-USD | +0.0520% | 1h | 0.000004881 | +0.198% | $535K | $148K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0522% | 8h | 0.000004884 | +0.269% | $96.3M | $281.2M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0522% | 8h | 0.000004891 | +0.407% | $137.9M | $1.08B | 75x | as long as short |
| Aevo 1000PEPE-PERP | +0.0528% | 1h | 0.000004886 | +0.308% | $138K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0535% | 8h | 0.000004884 | +0.266% | $1.5M | $7.4M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0588% | 1h | 0.000004871 | 0.000% | $101K | $754K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0601% | 1h | 0.000004869 | −0.047% | $94K | $598K | 15x | as long as short |
| Injective PEPE/USDC PERP | +0.0636% | 1h | 0.000004875 | +0.082% | $4K | $102K | 12x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALlong | +0.0983% | 1h | 0.000004871 | long leg | $78K | $98K | 25x |
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Phemex u1000PEPEUSDT
Lighter 1000PEPE
Paradex kPEPE-USD-PERP
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Nado kPEPE-PERP
01 Exchange kPEPEUSD
GMX PEPE/USD [ETH-USDC]
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
Backpack kPEPE_USDC_PERP
Injective PEPE/USDC PERP