Funding you earn now, next payment 05:00 UTC+0.0580%/8h= +63.5% APRpaid last 24h +0.083%
Price spread now: Coinbase International against KuCoin−0.264%7-day average +0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$77as in the Price arb table
costs, in and out, $10k−$480.481% of the position
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 4 days (all we have)+0.280%+$28 · spread now −0.264%, 7d avg +0.028%
=Funding pays, the price is against you. Coinbase International is 0.292% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.264% now, against its 7-day average of +0.028%). If the spread goes back, that is −$29 on $10k: about 40 hours of funding at the current rate (+$17 a day). At the pace of the last 7 days (+0.041% in total) that is about 50 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.041% in total (about 2.1% 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 | KuCoin PEPEUSDTM | 0.000004993 | 0.0100 | pay 0.0100% / 8h | 2h 53m | $24.9M | $70.0M | 75x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000004980 | 0.0680 | get 0.0085% / 1h | 53m 05s | $626K | $36.2M | 50x |
KuCoin PEPEUSDTM
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against KuCoin. 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
- $121.8
- Price spread: −0.264% → +0.028%
- −$29.23
- Slippage, 4 orders
- −$26.14
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $44.43
- Costs to cover
- 0.481%
- Break-even
- 4.4 days
Slippage from KuCoin: live order book, 11 min ago; Coinbase International: 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 KuCoin live order book, 11 min ago | 1.46 bp | 16.1 bp −$16 | 30.7 bp −$307 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 1 min ago | 3.01 bp | 8.0 bp −$8 | 10.9 bp −$109 | 50.6 bp −$5,060 | 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 | 0.000004977 | −0.331% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000004972 | −0.427% | $3K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004980 | −0.264% | $62K | $165K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004983 | −0.200% | $97.9M | $398.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004984 | −0.184% | $160.4M | $92.2M | 75x | as long as short |
| KuCoin PEPEUSDTMlong | +0.0100% | 8h | 0.000004993 | long leg | $24.9M | $70.0M | 75x | |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004979 | −0.292% | $597K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004977 | −0.315% | $27K | $536K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004990 | −0.066% | $2K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004986 | −0.144% | $556K | $4.1M | 75x | 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-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004975 | −0.363% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0346% | 8h | 0.000004985 | −0.174% | $44.6M | $205.6M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0357% | 1h | 0.000004982 | −0.224% | $2K | $10K | 10x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0409% | 8h | 0.000004988 | −0.104% | $45.7M | $672.1M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0416% | 8h | 0.000004981 | −0.234% | $33K | $27K | 20x | as long as short |
| Lighter 1000PEPE | +0.0528% | 1h | 0.000004989 | −0.084% | $601K | $9.0M | 10x | as long as short |
| BloFin PEPE-USDT | +0.0531% | 8h | 0.000004989 | −0.084% | $4.7M | $27.6M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0546% | 8h | 0.000004980 | −0.268% | $6K | — | 20x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0553% | 1h | 0.000004986 | −0.138% | $73K | $825K | 15x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0554% | 1h | 0.000004979 | −0.284% | $71K | $127K | 25x | as long as short |
| 01 Exchange kPEPEUSD | +0.0648% | 1h | 0.000004981 | −0.244% | $601 | $3K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0680% | 1h | 0.000004980 | −0.264% | $626K | $36.2M | 50x | |
| Phemex u1000PEPEUSDT | +0.0705% | 8h | 0.000004991 | −0.036% | $2.4M | $7.8M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0788% | 8h | 0.000004986 | −0.138% | — | $2.3M | — | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000004981 | −0.244% | $141K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0805% | 8h | 0.000004993 | −0.004% | $96.7M | $298.1M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0806% | 8h | 0.000004985 | −0.158% | $141.7M | $1.39B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0808% | 1h | 0.000004980 | −0.261% | $528K | $262K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0857% | 1h | 0.000004983 | −0.198% | $4.6M | $16.7M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0877% | 8h | 0.000004980 | −0.273% | $1.7M | $10.9M | 50x | as long as short |
| Hyperliquid kPEPE | +0.0966% | 1h | 0.000004995 | +0.036% | $52.9M | $150.1M | 10x | as long as short |
| Nado kPEPE-PERP | +0.0972% | 1h | 0.000004975 | −0.359% | $166K | $939K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1043% / S −0.1475% | 1h | 0.000004000 | −19.891% | $69K | — | 100x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000005327 | +6.685% | $3K | $111K | 12x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.2033% | 1h | 0.000004976 | −0.344% | $153K | $812K | 25x | as long as short |
Reya kPEPERUSDPERP
Bitget PEPEUSDT
SoDEX 1000PEPE-USD
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
Lighter 1000PEPE
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Backpack kPEPE_USDC_PERP
Deribit 1000PEPE_USDC-PERPETUAL
01 Exchange kPEPEUSD
Phemex u1000PEPEUSDT
BingX 1000PEPE-USDC
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Kraken Futures PF_PEPEUSD
Aster 1000PEPEUSDT
Hyperliquid kPEPE
Nado kPEPE-PERP
GMX PEPE/USD [ETH-USDC]
Injective PEPE/USDC PERP
ApeX Omni 1000PEPEUSDT