Funding you earn now, next payment 03:00 UTC−0.0599%/8h= −65.6% APRnext payment −$0.75 per $10,000 · paid last 24h −0.087%
Price spread now: Nado against Kraken Futures+0.375%7-day average +0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$520.524% of the position
Funding, last 3 days (all we have)−0.078%−$8 on $10k
+Price spread, last 4 days (all we have)−0.641%−$64 · spread now +0.375%, 7d avg +0.005%
=Together, before fees−0.719%+ Points / potential airdropNado: Active · farm board−$72 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Nado is 0.370% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.375% now, against its 7-day average of +0.005%): +$37 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 3 days (−0.078% in total) that is about 16 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.078% in total (about -8.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.75 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 | 0.000005006 | 0.1390 | pay 0.0174% / 1h | 13m 05s | $4.3M | $15.2M | 50x |
| Short | Nado kPEPE-PERP | 0.000005025 | 0.0791 | get 0.0099% / 1h | 13m 05s | $184K | $871K | 10x |
Kraken Futures PF_PEPEUSD
Nado kPEPE-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- −$125.76
- Price spread: +0.375% → +0.005%
- $36.99
- Slippage, 4 orders
- −$35.35
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- −$141.12
- Costs to cover
- 0.524%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 1 min ago; Nado: live order book, 50 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, 1 min ago | 6.48 bp | 17.3 bp −$17 | 29.4 bp −$294 | 80.7 bp −$8,072 | doesn't fit |
| Sell Nado live order book, 50 min ago | 3.94 bp | 9.6 bp −$10 | 26.5 bp −$265 | 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 | 0.000005017 | +0.228% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005008 | +0.033% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005022 | +0.318% | $64K | $139K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005000 | −0.113% | $97.0M | $340.6M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005004 | −0.041% | $164.2M | $75.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004998 | −0.157% | $25.7M | $63.2M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005042 | +0.708% | $687K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005013 | +0.132% | $27K | $445K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005029 | +0.466% | $1K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005007 | +0.011% | $569K | $3.6M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget PEPEUSDT | +0.0127% | 8h | 0.000005000 | −0.129% | $45.8M | $173.2M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005016 | +0.208% | $8K | — | 15x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0315% | 8h | 0.000005006 | +0.001% | $33K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0342% | 8h | 0.000005003 | −0.061% | $45.5M | $585.4M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0350% | 1h | 0.000005004 | −0.041% | $71K | $124K | 25x | as long as short |
| BloFin PEPE-USDT | +0.0462% | 8h | 0.000005002 | −0.081% | $4.3M | $25.0M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0527% | 1h | 0.000005007 | +0.019% | $2K | $12K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0576% | 1h | 0.000005012 | +0.119% | $922K | $31.4M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0576% | 1h | 0.000005011 | +0.099% | $99K | $755K | 25x | as long as short |
| BingX 1000PEPE-USDC | +0.0605% | 8h | 0.000005001 | −0.097% | — | $2.3M | — | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0627% / S −0.1003% | 1h | 0.000005000 | −0.121% | $49K | — | 100x | as long as short |
| Binance 1000PEPEUSDT | +0.0639% | 8h | 0.000005001 | −0.104% | $139.9M | $1.21B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0639% | 8h | 0.000004997 | −0.179% | $94.6M | $290.3M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0640% | 1h | 0.000004997 | −0.176% | $530K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0640% | 1h | 0.000004980 | −0.521% | $141K | — | 3x | as long as short |
| Phemex u1000PEPEUSDT | +0.0734% | 8h | 0.000004997 | −0.191% | $2.3M | $7.1M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0737% | 8h | 0.000005008 | +0.038% | $1.8M | $9.2M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0789% | 8h | 0.000005020 | +0.272% | $6K | — | 20x | as long as short |
| Nado kPEPE-PERPshort | +0.0791% | 1h | 0.000005025 | +0.375% | $184K | $871K | 10x | |
| 01 Exchange kPEPEUSD | +0.0960% | 1h | 0.000005030 | +0.478% | $607 | $3K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0965% | 1h | 0.000005002 | −0.089% | $92K | $631K | 15x | as long as short |
| Injective PEPE/USDC PERP | +0.0973% | 1h | 0.000005011 | +0.099% | $4K | $102K | 12x | as long as short |
| Lighter 1000PEPE | +0.1184% | 1h | 0.000005009 | +0.059% | $663K | $8.1M | 10x | as long as short |
| Kraken Futures PF_PEPEUSDlong | +0.1390% | 1h | 0.000005006 | long leg | $4.3M | $15.2M | 50x | |
| Hyperliquid kPEPE | +0.1591% | 1h | 0.000005008 | +0.039% | $53.5M | $139.6M | 10x | as long as short |
Bitget PEPEUSDT
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Deribit 1000PEPE_USDC-PERPETUAL
BloFin PEPE-USDT
SoDEX 1000PEPE-USD
Coinbase International 1000PEPE-PERP-INTX
ApeX Omni 1000PEPEUSDT
BingX 1000PEPE-USDC
GMX PEPE/USD [ETH-USDC]
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Phemex u1000PEPEUSDT
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
01 Exchange kPEPEUSD
Backpack kPEPE_USDC_PERP
Injective PEPE/USDC PERP
Lighter 1000PEPE
Hyperliquid kPEPE