Funding you earn now, next payment 09:00 UTC+0.0470%/8h= +51.5% APRnext payment +$0.59 per $10,000 · paid last 24h +0.122%
Price spread now: Kraken Futures against Injective+0.428%7-day average −0.632% · you sell dearer than you buy
Net, funding: paid 7d − costs−$132as in the Funding arb table
Net, price: spread back to 7d avg − costs−$10as in the Price arb table
costs, in and out, $10k−$1161.160% of the position
Funding, last 7 days−0.158%−$16 on $10k
+Price spread, last 4 days (all we have)−0.556%−$56 · spread now +0.428%, 7d avg −0.632%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 1.060% dearer against Injective than usual: you sell high and buy low: +$106 more if the spread goes back to its 7-day average of −0.632%. Mind the row above: over the last 7 days funding on this pair cost −0.158%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.59 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 | Injective PEPE/USDC PERP | 0.000005113 | 0.0147 | pay 0.0018% / 1h | 52m 51s | $8K | $120K | 12x |
| Short | Kraken Futures PF_PEPEUSD | 0.000005135 | 0.0617 | get 0.0077% / 1h | 52m 51s | $4.8M | $16.7M | 50x |
Injective PEPE/USDC PERP
Kraken Futures PF_PEPEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Injective. 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
- $98.7
- Price spread: +0.428% → −0.632%
- $105.96
- Slippage, 4 orders
- −$105.99
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $88.65
- Costs to cover
- 1.160%
- Break-even
- 0.7 days
Slippage from Injective: live order book, 46 min ago; Kraken Futures: live order book, 1 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 Injective live order book, 46 min ago | 30.92 bp | 30.9 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 1 min ago | 7.93 bp | 12.9 bp −$13 | 18.0 bp −$180 | 71.8 bp −$7,183 | 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 | 0.000005107 | −0.118% | $19K | $649 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005107 | −0.125% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005115 | +0.039% | $60K | $186K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005135 | +0.424% | $99.1M | $435.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005131 | +0.352% | $163.6M | $98.8M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005113 | −0.007% | $635K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005108 | −0.105% | $28K | $548K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005146 | +0.642% | $2K | $2.7M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005136 | +0.460% | $601K | $4.2M | 75x | as long as short |
| Injective PEPE/USDC PERPlong | +0.0147% | 1h | 0.000005113 | long leg | $8K | $120K | 12x |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin PEPEUSDTM | +0.0152% | 8h | 0.000005137 | +0.465% | $26.9M | $74.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005130 | +0.332% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0229% | 8h | 0.000005135 | +0.436% | $46.1M | $221.8M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0271% | 1h | 0.000005137 | +0.469% | $2K | $11K | 10x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0345% | 8h | 0.000005134 | +0.411% | $47.1M | $749.6M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0403% | 1h | 0.000005100 | −0.254% | $148K | $836K | 25x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0424% | 8h | 0.000005138 | +0.489% | $34K | $26K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0429% | 8h | 0.000005119 | +0.122% | $6K | — | 20x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0435% | 1h | 0.000005136 | +0.454% | $76K | $894K | 15x | as long as short |
| BloFin PEPE-USDT | +0.0467% | 8h | 0.000005133 | +0.391% | $4.6M | $30.4M | 75x | as long as short |
| 01 Exchange kPEPEUSD | +0.0488% | 1h | 0.000005132 | +0.372% | $619 | $2K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0504% | 1h | 0.000005126 | +0.254% | $678K | $39.8M | 50x | as long as short |
| Lighter 1000PEPE | +0.0552% | 1h | 0.000005139 | +0.509% | $623K | $9.0M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0570% | 1h | 0.000005138 | +0.489% | $53.2M | $159.8M | 10x | as long as short |
| Nado kPEPE-PERP | +0.0613% | 1h | 0.000005132 | +0.372% | $163K | $964K | 10x | as long as short |
| Kraken Futures PF_PEPEUSDshort | +0.0617% | 1h | 0.000005135 | +0.428% | $4.8M | $16.7M | 50x | |
| BingX 1000PEPE-USDT | +0.0656% | 8h | 0.000005135 | +0.432% | — | $175.7M | — | as long as short |
| Binance 1000PEPEUSDT | +0.0679% | 8h | 0.000005137 | +0.479% | $141.7M | $1.51B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0680% | 1h | 0.000005135 | +0.438% | $539K | $280K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0680% | 1h | 0.000005134 | +0.411% | $145K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0681% | 8h | 0.000005139 | +0.501% | $100.4M | $305.8M | 300x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0725% | 1h | 0.000005135 | +0.430% | $73K | $128K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0735% | 8h | 0.000005138 | +0.488% | $1.7M | $12.0M | 50x | as long as short |
| Phemex u1000PEPEUSDT | +0.0968% | 8h | 0.000005132 | +0.381% | $2.4M | $8.1M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1020% / S −0.1217% | 1h | 0.000005000 | −2.210% | $50K | — | 100x | as long as short |
KuCoin PEPEUSDTM
Reya kPEPERUSDPERP
Bitget PEPEUSDT
SoDEX 1000PEPE-USD
OKX PEPE-USDT-SWAP
ApeX Omni 1000PEPEUSDT
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
Backpack kPEPE_USDC_PERP
BloFin PEPE-USDT
01 Exchange kPEPEUSD
Coinbase International 1000PEPE-PERP-INTX
Lighter 1000PEPE
Hyperliquid kPEPE
Nado kPEPE-PERP
BingX 1000PEPE-USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Deribit 1000PEPE_USDC-PERPETUAL
Aster 1000PEPEUSDT
Phemex u1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]