Funding you earn now, next payment 09:00 UTC−0.0469%/8h= −51.4% APRnext payment −$0.59 per $10,000 · paid last 24h −0.122%
Price spread now: Injective against Kraken Futures−0.324%7-day average +0.632% · you buy dearer than you sell
Net, funding: paid 7d − costs−$100as in the Funding arb table
Net, price: spread back to 7d avg − costs−$212as 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)+0.453%+$45 · spread now −0.324%, 7d avg +0.632%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Injective is 0.956% cheaper against Kraken Futures than usual: you would sell low and buy high (−$96 if the spread goes back to its 7-day average of +0.632%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.158%, so the current rate has only just turned against you.
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 | Kraken Futures PF_PEPEUSD | 0.000005141 | 0.0617 | pay 0.0077% / 1h | 51m 06s | $4.8M | $16.7M | 50x |
| Short | Injective PEPE/USDC PERP | 0.000005124 | 0.0147 | get 0.0018% / 1h | 51m 06s | $8K | $120K | 12x |
Kraken Futures PF_PEPEUSD
Injective PEPE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Kraken Futures. 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
- −$98.55
- Price spread: −0.324% → +0.632%
- −$95.6
- Slippage, 4 orders
- −$105.99
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$310.16
- Costs to cover
- 1.160%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Injective: live order book, 48 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 Kraken Futures live order book, 3 min ago | 7.93 bp | 16.2 bp −$16 | 26.4 bp −$264 | 78.5 bp −$7,847 | doesn't fit |
| Sell Injective live order book, 48 min ago | 30.92 bp | 55.9 bp −$56 | 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 | 0.000005123 | −0.351% | $19K | $649 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005139 | −0.034% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005129 | −0.227% | $60K | $186K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005137 | −0.066% | $99.1M | $435.3M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005139 | −0.032% | $163.8M | $98.9M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005113 | −0.545% | $635K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005125 | −0.296% | $28K | $549K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005140 | −0.005% | $2K | $2.7M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005149 | +0.156% | $602K | $4.2M | 75x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0134% | 1h | 0.000005124 | −0.324% | $149K | $836K | 25x | as long as short |
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-USDT
ApeX Omni 1000PEPEUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective PEPE/USDC PERPshort | +0.0147% | 1h | 0.000005124 | −0.324% | $8K | $120K | 12x | |
| KuCoin PEPEUSDTM | +0.0154% | 8h | 0.000005145 | +0.090% | $26.8M | $74.7M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005133 | −0.142% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0228% | 8h | 0.000005137 | −0.069% | $46.1M | $221.8M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0280% | 1h | 0.000005143 | +0.045% | $2K | $11K | 10x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0346% | 8h | 0.000005139 | −0.032% | $47.4M | $751.1M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0427% | 8h | 0.000005141 | +0.004% | $34K | $26K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0432% | 8h | 0.000005128 | −0.256% | $6K | — | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0433% | 8h | 0.000005141 | +0.016% | $2.4M | $8.1M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0465% | 8h | 0.000005141 | +0.006% | $4.5M | $30.5M | 75x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0492% | 1h | 0.000005140 | −0.011% | $77K | $894K | 15x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0504% | 1h | 0.000005145 | +0.084% | $677K | $40.0M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0560% | 1h | 0.000005136 | −0.091% | $619 | $2K | 10x | as long as short |
| Hyperliquid kPEPE | +0.0585% | 1h | 0.000005142 | +0.026% | $53.3M | $159.8M | 10x | as long as short |
| Nado kPEPE-PERP | +0.0597% | 1h | 0.000005133 | −0.139% | $163K | $964K | 10x | as long as short |
| Lighter 1000PEPE | +0.0616% | 1h | 0.000005146 | +0.104% | $623K | $9.0M | 10x | as long as short |
| Kraken Futures PF_PEPEUSDlong | +0.0617% | 1h | 0.000005141 | long leg | $4.8M | $16.7M | 50x | |
| BingX 1000PEPE-USDT | +0.0654% | 8h | 0.000005139 | −0.042% | — | $175.7M | — | as long as short |
| Extended 1000PEPE-USD | +0.0680% | 1h | 0.000005142 | +0.030% | $539K | $280K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0680% | 8h | 0.000005138 | −0.062% | $100.2M | $305.9M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0680% | 1h | 0.000005134 | −0.130% | $145K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0681% | 8h | 0.000005141 | +0.006% | $141.8M | $1.51B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0698% | 8h | 0.000005146 | +0.098% | $1.7M | $12.0M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0724% | 1h | 0.000005141 | +0.006% | $73K | $128K | 25x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1020% / S −0.1149% | 1h | 0.000005000 | −2.736% | $51K | — | 100x | as long as short |
KuCoin PEPEUSDTM
Reya kPEPERUSDPERP
Bitget PEPEUSDT
SoDEX 1000PEPE-USD
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
BloFin PEPE-USDT
Backpack kPEPE_USDC_PERP
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
Hyperliquid kPEPE
Nado kPEPE-PERP
Lighter 1000PEPE
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
GMX PEPE/USD [ETH-USDC]