Funding you earn now, next payment 04:00 UTC−0.1463%/8h= −160.2% APRnext payment −$1.83 per $10,000 · paid last 24h −0.136%
Price spread now: Pacifica against Hyperliquid−0.154%7-day average −0.101% · you buy dearer than you sell
Net, funding: paid 7d − costs−$90as in the Funding arb table
Net, price: spread back to 7d avg − costs−$52as in the Price arb table
costs, in and out, $10k−$470.472% of the position
Funding, last 7 days−0.431%−$43 on $10k
+Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.154%, 7d avg −0.101%
=Together, before fees−0.395%+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm board−$39 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$44 a day on $10k at the current rate, and Pacifica is 0.053% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.101%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.431% in total (about -22.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.83 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 | Hyperliquid kPEPE | 0.000005204 | 0.1563 | pay 0.0195% / 1h | 31m 36s | $56.0M | $141.1M | 10x |
| Short | Pacifica kPEPE | 0.000005196 | 0.0100 | get 0.0013% / 1h | 31m 36s | $66K | $141K | 10x |
Hyperliquid kPEPE
Pacifica kPEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Pacifica against Hyperliquid. 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
- −$307.26
- Price spread: −0.154% → −0.101%
- −$5.31
- Slippage, 4 orders
- −$30.17
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Pacifica: 4 bp × 2 orders
- −$8
- Net
- −$359.74
- Costs to cover
- 0.472%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 12 min ago; Pacifica: live order book, 26 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 Hyperliquid live order book, 12 min ago | 0.98 bp | 5.5 bp −$5 | 17.8 bp −$178 | doesn't fit | doesn't fit |
| Sell Pacifica live order book, 26 min ago | 4.95 bp | 20.4 bp −$20 | doesn't fit | 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 | 0.000005191 | −0.259% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005175 | −0.550% | $15K | — | 150x | as long as short |
| Pacifica kPEPEshort | +0.0100% | 1h | 0.000005196 | −0.154% | $66K | $141K | 10x | |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005197 | −0.129% | $101.6M | $352.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005194 | −0.192% | $172.6M | $77.2M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005195 | −0.171% | $26.2M | $64.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005122 | −1.583% | $693K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005141 | −1.220% | $37K | $458K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005172 | −0.613% | $2K | $2.5M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005190 | −0.271% | $591K | $3.7M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005165 | −0.750% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0193% | 8h | 0.000005198 | −0.108% | $47.2M | $176.5M | 75x | as long as short |
| Injective PEPE/USDC PERP | +0.0254% | 1h | 0.000005127 | −1.480% | $3K | $102K | 12x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0341% | 8h | 0.000005188 | −0.313% | $34K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0377% | 8h | 0.000005187 | −0.327% | $47.9M | $621.8M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0494% | 8h | 0.000005146 | −1.115% | $4.3M | $26.0M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0565% | 8h | 0.000005184 | −0.386% | $2.6M | $7.3M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0672% | 1h | 0.000005200 | −0.077% | $996K | $33.0M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0673% | 8h | 0.000005195 | −0.165% | — | $262.3M | — | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0688% / S −0.0950% | 1h | 0.000005000 | −3.920% | $46K | — | 100x | as long as short |
| Extended 1000PEPE-USD | +0.0720% | 1h | 0.000005196 | −0.147% | $550K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0720% | 1h | 0.000005199 | −0.096% | $147K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0722% | 8h | 0.000005200 | −0.077% | $99.7M | $289.5M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0728% | 8h | 0.000005208 | +0.085% | $149.0M | $1.24B | 75x | as long as short |
| Nado kPEPE-PERP | +0.0796% | 1h | 0.000005188 | −0.312% | $192K | $895K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0822% | 8h | 0.000005202 | −0.042% | $1.9M | $9.4M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0823% | 8h | 0.000005192 | −0.228% | $6K | — | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0844% | 1h | 0.000005137 | −1.287% | $102K | $743K | 25x | as long as short |
| SoDEX 1000PEPE-USD | +0.0867% | 1h | 0.000005195 | −0.173% | $2K | $12K | 10x | as long as short |
| Lighter 1000PEPE | +0.0912% | 1h | 0.000005198 | −0.115% | $587K | $8.3M | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.1104% | 1h | 0.000005198 | −0.123% | $98K | $660K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.1152% | 1h | 0.000005217 | +0.250% | $629 | $3K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1254% | 1h | 0.000005195 | −0.178% | $4.6M | $15.8M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.1294% | 1h | 0.000005191 | −0.250% | $74K | $124K | 25x | as long as short |
| Hyperliquid kPEPElong | +0.1563% | 1h | 0.000005204 | long leg | $56.0M | $141.1M | 10x |
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Injective PEPE/USDC PERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Nado kPEPE-PERP
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
SoDEX 1000PEPE-USD
Lighter 1000PEPE
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Kraken Futures PF_PEPEUSD
Deribit 1000PEPE_USDC-PERPETUAL