Funding you earn now, next payment 03:00 UTC+0.0839%/8h= +91.9% APRnext payment +$1.05 per $10,000 · paid last 24h +0.092%
Price spread now: Kraken Futures against Deribit+0.017%7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$46as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$550.555% of the position
Funding, last 7 days+0.098%+$10 on $10k
+Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.017%, 7d avg −0.008%
=Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Kraken Futures is 0.025% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.008%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.05 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 | 0.000005012 | 0.0549 | pay 0.0069% / 1h | 31m 44s | $61K | $114K | 25x |
| Short | Kraken Futures PF_PEPEUSD | 0.000005013 | 0.1388 | get 0.0173% / 1h | 31m 44s | $4.2M | $15.1M | 50x |
Deribit 1000PEPE_USDC-PERPETUAL
Kraken Futures PF_PEPEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $176.24
- Price spread: +0.017% → −0.008%
- $2.55
- Slippage, 4 orders
- −$38.47
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $123.32
- Costs to cover
- 0.555%
- Break-even
- 2.1 days
Slippage from Deribit: live order book, 62 min ago; Kraken Futures: 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 Deribit live order book, 62 min ago | 5.97 bp | 9.5 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 7.53 bp | 17.8 bp −$18 | 23.7 bp −$237 | 92.0 bp −$9,196 | 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 | 0.000005016 | +0.080% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005010 | −0.044% | $14K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005020 | +0.160% | $63K | $136K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005012 | 0.000% | $97.9M | $337.1M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005021 | +0.180% | $163.8M | $74.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005021 | +0.174% | $25.7M | $62.4M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005021 | +0.176% | $46.2M | $172.2M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005042 | +0.589% | $681K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005060 | +0.967% | $36K | $434K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005022 | +0.202% | $1K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
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 | 0.000005014 | +0.032% | $572K | $3.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005020 | +0.150% | $8K | — | 15x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0317% | 8h | 0.000005016 | +0.088% | $33K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0319% | 8h | 0.000005017 | +0.100% | $45.3M | $584.4M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0436% | 8h | 0.000005015 | +0.060% | $4.3M | $25.1M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALlong | +0.0549% | 1h | 0.000005012 | long leg | $61K | $114K | 25x | |
| BingX 1000PEPE-USDC | +0.0575% | 8h | 0.000005014 | +0.042% | — | $2.3M | — | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0576% | 1h | 0.000005019 | +0.140% | $910K | $31.2M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0577% | 1h | 0.000005014 | +0.040% | $2K | $12K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0586% / S −0.0912% | 1h | 0.000005000 | −0.239% | $49K | — | 100x | as long as short |
| Aevo 1000PEPE-PERP | +0.0608% | 1h | 0.000005004 | −0.160% | $141K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0614% | 8h | 0.000005017 | +0.108% | $94.5M | $289.1M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0614% | 8h | 0.000005015 | +0.054% | $140.7M | $1.20B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0616% | 1h | 0.000005021 | +0.172% | $530K | $226K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0707% | 8h | 0.000005027 | +0.301% | $1.8M | $9.1M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0765% | 8h | 0.000005010 | −0.036% | $6K | — | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0860% | 1h | 0.000005059 | +0.938% | $99K | $752K | 25x | as long as short |
| Phemex u1000PEPEUSDT | +0.0872% | 8h | 0.000005016 | +0.076% | $2.4M | $7.0M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0885% | 1h | 0.000005018 | +0.126% | $181K | $870K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0948% | 1h | 0.000005019 | +0.144% | $94K | $625K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0968% | 1h | 0.000005024 | +0.239% | $606 | $3K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0973% | 1h | 0.000005105 | +1.856% | $4K | $102K | 12x | as long as short |
| Lighter 1000PEPE | +0.1328% | 1h | 0.000005026 | +0.279% | $696K | $8.0M | 10x | as long as short |
| Kraken Futures PF_PEPEUSDshort | +0.1388% | 1h | 0.000005013 | +0.017% | $4.2M | $15.1M | 50x | |
| Hyperliquid kPEPE | +0.1736% | 1h | 0.000005029 | +0.339% | $53.6M | $139.2M | 10x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
BingX 1000PEPE-USDC
Coinbase International 1000PEPE-PERP-INTX
SoDEX 1000PEPE-USD
GMX PEPE/USD [ETH-USDC]
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
Phemex u1000PEPEUSDT
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Lighter 1000PEPE
Hyperliquid kPEPE