Funding you earn now, next payment 09:00 UTC−0.0356%/8h= −39.0% APRpaid last 24h −0.196%
Price spread now: OKX against Kraken Futures−0.034%7-day average +0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs−$65as in the Funding arb table
Net, price: spread back to 7d avg − costs−$53as in the Price arb table
costs, in and out, $10k−$470.466% of the position
Funding, last 7 days−0.187%−$19 on $10k
+Price spread, last 4 days (all we have)−0.264%−$26 · spread now −0.034%, 7d avg +0.030%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and OKX is 0.064% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.030%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.187% in total (about -9.7% 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 | 0.000005007 | 0.0633 | pay 0.0079% / 1h | 59m 59s | $4.6M | $17.1M | 50x |
| Short | OKX PEPE-USDT-SWAP | 0.000005005 | 0.0277 | get 0.0277% / 8h | 6h 59m | $45.8M | $742.8M | 50x |
Kraken Futures PF_PEPEUSD
OKX PEPE-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$74.72
- Price spread: −0.034% → +0.030%
- −$6.43
- Slippage, 4 orders
- −$26.58
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$127.74
- Costs to cover
- 0.466%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 4 min ago; OKX: live order book, 4 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 | 5.11 bp | 17.4 bp −$17 | 25.2 bp −$252 | 88.3 bp −$8,830 | doesn't fit |
| Sell OKX live order book, 4 min ago | 1.00 bp | 9.1 bp −$9 | 13.0 bp −$130 | 35.9 bp −$3,593 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005002 | −0.092% | $3K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005004 | −0.054% | $57K | $197K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005003 | −0.074% | $96.2M | $447.1M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005005 | −0.034% | $159.8M | $103.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004998 | −0.183% | $653K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004994 | −0.246% | $27K | $568K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000004990 | −0.334% | $145K | $846K | 25x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005012 | +0.103% | $1K | $2.6M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005007 | +0.006% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005004 | −0.046% | $585K | $4.2M | 75x | as long as short |
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
ApeX Omni 1000PEPEUSDT
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PEPEUSDT | +0.0132% | 8h | 0.000005007 | +0.006% | $44.6M | $225.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0133% | 8h | 0.000005010 | +0.058% | $25.7M | $75.9M | 75x | as long as short |
| Injective PEPE/USDC PERP | +0.0147% | 1h | 0.000005011 | +0.085% | $6K | $121K | 12x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0150% | 1h | 0.000005006 | −0.014% | $57K | $139K | 25x | as long as short |
| Phemex u1000PEPEUSDT | +0.0187% | 8h | 0.000005011 | +0.089% | $2.3M | $8.0M | 50x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005006 | −0.010% | $8K | — | 15x | as long as short |
| Lighter 1000PEPE | +0.0256% | 1h | 0.000005010 | +0.066% | $592K | $9.1M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0276% | 1h | 0.000005008 | +0.026% | $51.6M | $161.7M | 10x | as long as short |
| OKX PEPE-USDT-SWAPshort | +0.0277% | 8h | 0.000005005 | −0.034% | $45.8M | $742.8M | 50x | |
| Paradex kPEPE-USD-PERP | +0.0285% | 8h | 0.000004997 | −0.192% | $6K | — | 20x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0320% | 1h | 0.000005006 | −0.006% | $66K | $959K | 15x | as long as short |
| BloFin PEPE-USDT | +0.0401% | 8h | 0.000005008 | +0.026% | $4.4M | $30.1M | 75x | as long as short |
| 01 Exchange kPEPEUSD | +0.0408% | 1h | 0.000004999 | −0.154% | $603 | $2K | 10x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0431% | 8h | 0.000005007 | +0.016% | $32K | $31K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0504% | 1h | 0.000005012 | +0.105% | $665K | $39.4M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0554% | 1h | 0.000004999 | −0.153% | $152K | $950K | 10x | as long as short |
| Binance 1000PEPEUSDT | +0.0560% | 8h | 0.000005006 | −0.011% | $132.1M | $1.54B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0560% | 1h | 0.000005005 | −0.034% | $525K | $286K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0560% | 1h | 0.000005004 | −0.054% | $141K | — | 3x | as long as short |
| BingX 1000PEPE-USDT | +0.0563% | 8h | 0.000005007 | +0.002% | — | $179.7M | — | as long as short |
| MEXC PEPE_USDT | +0.0564% | 8h | 0.000005009 | +0.042% | $99.6M | $313.9M | 300x | as long as short |
| Aster 1000PEPEUSDT | +0.0583% | 8h | 0.000005007 | +0.007% | $1.8M | $12.3M | 50x | as long as short |
| Kraken Futures PF_PEPEUSDlong | +0.0633% | 1h | 0.000005007 | long leg | $4.6M | $17.1M | 50x | |
| GMX PEPE/USD [ETH-USDC] | L +0.0926% / S −0.1034% | 1h | 0.000005000 | −0.134% | $50K | — | 100x | as long as short |
| dYdX PEPE-USD | +0.5056% | 1h | 0.000004999 | −0.154% | $25K | $12K | 10x | as long as short |
Bitget PEPEUSDT
KuCoin PEPEUSDTM
Injective PEPE/USDC PERP
Deribit 1000PEPE_USDC-PERPETUAL
Phemex u1000PEPEUSDT
Reya kPEPERUSDPERP
Lighter 1000PEPE
Hyperliquid kPEPE
Paradex kPEPE-USD-PERP
Backpack kPEPE_USDC_PERP
BloFin PEPE-USDT
01 Exchange kPEPEUSD
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Nado kPEPE-PERP
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
BingX 1000PEPE-USDT
MEXC PEPE_USDT
Aster 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
dYdX PEPE-USD