Funding you earn now, next payment 05:00 UTC−0.0217%/8h= −23.8% APRpaid last 24h −0.079%
Price spread now: KuCoin against Deribit−0.227%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$52as in the Funding arb table
Net, price: spread back to 7d avg − costs−$69as in the Price arb table
costs, in and out, $10k−$480.475% of the position
Funding, last 7 days−0.044%−$4 on $10k
+Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.227%, 7d avg −0.015%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and KuCoin is 0.211% cheaper against Deribit than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.015%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.044% in total (about -2.3% a year). A funding rate is set anew for every payment. 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 | 0.000005294 | 0.0317 | pay 0.0040% / 1h | 29m 56s | $75K | $126K | 25x |
| Short | KuCoin PEPEUSDTM | 0.000005282 | 0.0100 | get 0.0100% / 8h | 3h 29m | $26.4M | $68.2M | 75x |
Deribit 1000PEPE_USDC-PERPETUAL
KuCoin PEPEUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$45.57
- Price spread: −0.227% → −0.015%
- −$21.12
- Slippage, 4 orders
- −$28.52
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$114.22
- Costs to cover
- 0.475%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 54 min ago; KuCoin: live order book, 4 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, 54 min ago | 5.83 bp | 9.3 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 4 min ago | 1.04 bp | 13.3 bp −$13 | 23.8 bp −$238 | 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 | 0.000005299 | +0.104% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005289 | −0.094% | $15K | — | 150x | as long as short |
| Injective PEPE/USDC PERP | +0.0092% | 1h | 0.000005327 | +0.623% | $3K | $111K | 12x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005309 | +0.283% | $70K | $155K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005280 | −0.264% | $107.3M | $378.1M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005276 | −0.340% | $175.1M | $87.8M | 75x | as long as short |
| KuCoin PEPEUSDTMshort | +0.0100% | 8h | 0.000005282 | −0.227% | $26.4M | $68.2M | 75x | |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005312 | +0.332% | $747K | $5.1M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005295 | +0.026% | $53K | $509K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005301 | +0.138% | $2K | $2.5M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Injective PEPE/USDC PERP
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
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 | 0.000005295 | +0.019% | $601K | $3.9M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005296 | +0.046% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0288% | 8h | 0.000005282 | −0.232% | $51.5M | $189.9M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALlong | +0.0317% | 1h | 0.000005294 | long leg | $75K | $126K | 25x | |
| Orderly PERP_1000PEPE_USDC | +0.0388% | 8h | 0.000005300 | +0.106% | $35K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0433% | 8h | 0.000005285 | −0.170% | $51.7M | $679.5M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0477% | 1h | 0.000005296 | +0.038% | $2K | $10K | 10x | as long as short |
| BloFin PEPE-USDT | +0.0560% | 8h | 0.000005312 | +0.340% | $5.0M | $28.5M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0630% | 8h | 0.000005296 | +0.030% | $2.6M | $7.5M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0712% | 1h | 0.000005304 | +0.189% | $650K | $36.6M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0755% | 8h | 0.000005279 | −0.284% | $6K | — | 20x | as long as short |
| BingX 1000PEPE-USDC | +0.0763% | 8h | 0.000005286 | −0.159% | — | $2.3M | — | as long as short |
| MEXC PEPE_USDT | +0.0797% | 8h | 0.000005279 | −0.278% | $103.4M | $295.0M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0800% | 1h | 0.000005283 | −0.200% | $562K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000005278 | −0.302% | $149K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0802% | 8h | 0.000005287 | −0.139% | $154.2M | $1.32B | 75x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0804% | 1h | 0.000005291 | −0.057% | $162K | $808K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0861% | 1h | 0.000005300 | +0.122% | $191K | $916K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0914% | 8h | 0.000005281 | −0.247% | $1.9M | $10.3M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0943% / S −0.1872% | 1h | 0.000005000 | −5.553% | $65K | — | 100x | as long as short |
| 01 Exchange kPEPEUSD | +0.1024% | 1h | 0.000005303 | +0.170% | $640 | $3K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.1217% | 1h | 0.000005288 | −0.104% | $69K | $724K | 15x | as long as short |
| Lighter 1000PEPE | +0.1248% | 1h | 0.000005298 | +0.076% | $698K | $8.7M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1543% | 1h | 0.000005291 | −0.054% | $4.9M | $16.4M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1634% | 1h | 0.000005298 | +0.076% | $58.0M | $145.2M | 10x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
SoDEX 1000PEPE-USD
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
Paradex kPEPE-USD-PERP
BingX 1000PEPE-USDC
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
Aster 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
01 Exchange kPEPEUSD
Backpack kPEPE_USDC_PERP
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE