Funding you earn now, next payment 07:00 UTC−0.0353%/8h= −38.6% APRpaid last 24h −0.218%
Price spread now: KuCoin against Kraken Futures+0.148%52s7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs−$83as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$630.631% of the position
Funding, last 7 days−0.195%−$19 on $10k
+Price spread, last 4 days (all we have)−0.240%−$24 · spread now +0.148%, 7d avg +0.019%
=The price spread pays, funding is against you. KuCoin is 0.128% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.148% now, against its 7-day average of +0.019%): +$13 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.195% in total) that is about 4.6 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.195% in total (about -10.2% 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 | Kraken Futures PF_PEPEUSD | 0.000005156 | 0.0453 | pay 0.0057% / 1h | 50m 28s | $4.7M | $16.8M | 50x |
| Short | KuCoin PEPEUSDTM | 0.000005164 | 0.0100 | get 0.0100% / 8h | 1h 50m | $25.9M | $72.0M | 75x |
Kraken Futures PF_PEPEUSD
KuCoin PEPEUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$74.06
- Price spread: +0.148% → +0.019%
- $12.83
- Slippage, 4 orders
- −$41.13
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$124.35
- Costs to cover
- 0.631%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 4 min ago; KuCoin: live order book, 9 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, 4 min ago | 7.54 bp | 14.0 bp −$14 | 21.1 bp −$211 | 58.2 bp −$5,824 | doesn't fit |
| Sell KuCoin live order book, 9 min ago | 1.83 bp | 16.4 bp −$16 | 26.3 bp −$263 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PEPE/USDC PERP | −0.0016% | 1h | 0.000005159 | +0.053% | $10K | $119K | 12x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005159 | +0.045% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005151 | −0.095% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005162 | +0.111% | $60K | $180K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005159 | +0.058% | $101.5M | $414.6M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005163 | +0.130% | $164.5M | $95.9M | 75x | as long as short |
| KuCoin PEPEUSDTMshort | +0.0100% | 8h | 0.000005164 | +0.148% | $25.9M | $72.0M | 75x | |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005155 | −0.032% | $615K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005165 | +0.176% | $28K | $540K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005172 | +0.307% | $2K | $2.6M | 20x | as long as short |
Injective PEPE/USDC PERP
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
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 | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005161 | +0.091% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005145 | −0.219% | $592K | $4.2M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005160 | +0.077% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0305% | 8h | 0.000005159 | +0.056% | $46.2M | $214.1M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0379% | 8h | 0.000005160 | +0.082% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0417% | 8h | 0.000005162 | +0.111% | $48.4M | $724.3M | 50x | as long as short |
| Kraken Futures PF_PEPEUSDlong | +0.0453% | 1h | 0.000005156 | long leg | $4.7M | $16.8M | 50x | |
| Backpack kPEPE_USDC_PERP | +0.0464% | 1h | 0.000005159 | +0.047% | $73K | $849K | 15x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0513% | 8h | 0.000005168 | +0.222% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0539% | 8h | 0.000005154 | −0.044% | $4.5M | $29.5M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0575% | 8h | 0.000005154 | −0.037% | $2.4M | $8.0M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0624% | 1h | 0.000005167 | +0.208% | $684K | $38.6M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0629% | 1h | 0.000005167 | +0.208% | $156K | $820K | 25x | as long as short |
| 01 Exchange kPEPEUSD | +0.0664% | 1h | 0.000005169 | +0.246% | $623 | $3K | 10x | as long as short |
| Lighter 1000PEPE | +0.0672% | 1h | 0.000005164 | +0.150% | $621K | $9.0M | 10x | as long as short |
| Nado kPEPE-PERP | +0.0711% | 1h | 0.000005164 | +0.150% | $164K | $956K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0719% | 1h | 0.000005163 | +0.130% | $74K | $127K | 25x | as long as short |
| BingX 1000PEPE-USDT | +0.0749% | 8h | 0.000005156 | +0.004% | — | $217.5M | — | as long as short |
| Extended 1000PEPE-USD | +0.0776% | 1h | 0.000005164 | +0.143% | $547K | $285K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0776% | 1h | 0.000005160 | +0.072% | $146K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0779% | 8h | 0.000005159 | +0.049% | $98.6M | $302.4M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0779% | 8h | 0.000005165 | +0.169% | $142.7M | $1.45B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0795% | 8h | 0.000005166 | +0.184% | $1.8M | $11.6M | 50x | as long as short |
| Hyperliquid kPEPE | +0.0947% | 1h | 0.000005166 | +0.188% | $55.1M | $154.5M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1133% / S −0.2351% | 1h | 0.000005000 | −3.031% | $63K | — | 100x | as long as short |
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Backpack kPEPE_USDC_PERP
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
ApeX Omni 1000PEPEUSDT
01 Exchange kPEPEUSD
Lighter 1000PEPE
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]