Funding you earn now, next payment 22:00 UTC−0.0148%/8h= −16.2% APRnext payment −$0.18 per $10,000 · paid last 24h +0.003%
Price spread now: Backpack against Lighter−0.074%7-day average −0.047% · you buy dearer than you sell
Net, funding: paid 7d − costs−$28as in the Funding arb table
Net, price: spread back to 7d avg − costs−$36as in the Price arb table
costs, in and out, $10k−$340.338% of the position
Funding, last 7 days+0.062%+$6 on $10k
+Price spread, last 4 days (all we have)+0.427%+$43 · spread now −0.074%, 7d avg −0.047%
=Together, before fees+0.489%+ Points / potential airdropLighter: Season 3 · farm board+$49 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Backpack is 0.027% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.047%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.062%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter 1000PEPE | 0.000004892 | 0.0320 | pay 0.0040% / 1h | 55m 07s | $587K | $4.9M | 10x |
| Short | Backpack kPEPE_USDC_PERP | 0.000004888 | 0.0172 | get 0.0022% / 1h | 55m 07s | $97K | $591K | 15x |
Lighter 1000PEPE
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- −$31.08
- Price spread: −0.074% → −0.047%
- −$2.68
- Slippage, 4 orders
- −$23.79
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$67.54
- Costs to cover
- 0.338%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; Backpack: live order book, 33 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 Lighter live order book, 3 min ago | 5.12 bp | 13.5 bp −$13 | 21.4 bp −$214 | 69.1 bp −$6,910 | doesn't fit |
| Sell Backpack live order book, 33 min ago | 0.10 bp | 5.3 bp −$5 | 17.2 bp −$172 | 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 | 0.000004892 | −0.001% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004893 | +0.014% | $15K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004896 | +0.082% | $56.8M | $67.1M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004897 | +0.102% | $58K | $108K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004888 | −0.080% | $88.5M | $265.8M | 50x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0100% | 8h | 0.000004888 | −0.082% | $42.8M | $484.3M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004896 | +0.082% | $149.4M | $59.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004888 | −0.080% | $24.7M | $48.8M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004889 | −0.052% | $719K | $3.8M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004893 | +0.011% | $28K | $335K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
OKX PEPE-USDT-SWAP
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDCShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004908 | +0.327% | $2K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004899 | +0.143% | $564K | $3.5M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0156% | 1h | 0.000004894 | +0.041% | $2K | $9K | 10x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0172% | 1h | 0.000004888 | −0.074% | $97K | $591K | 15x | |
| Bitget PEPEUSDT | +0.0183% | 8h | 0.000004886 | −0.119% | $45.8M | $136.3M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004898 | +0.113% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0220% | 8h | 0.000004893 | +0.020% | $4.0M | $21.6M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0312% / S −0.0263% | 1h | 0.000004000 | −18.234% | $48K | — | 100x | as long as short |
| Lighter 1000PEPElong | +0.0320% | 1h | 0.000004892 | long leg | $587K | $4.9M | 10x | |
| Orderly PERP_1000PEPE_USDC | +0.0345% | 8h | 0.000004898 | +0.129% | $31K | $10K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0352% | 8h | 0.000004899 | +0.140% | $5K | $16 | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0431% | 8h | 0.000004893 | +0.016% | $2.4M | $6.2M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004904 | +0.245% | $635K | $25.1M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0512% | 1h | 0.000004901 | +0.184% | $561 | $2K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004902 | +0.204% | $4K | $92K | 12x | as long as short |
| Nado kPEPE-PERP | +0.0639% | 1h | 0.000004898 | +0.129% | $193K | $845K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0699% | 1h | 0.000004891 | −0.020% | $101K | $755K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0749% | 1h | 0.000004891 | −0.024% | $3.9M | $12.5M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0760% | 8h | 0.000004884 | −0.164% | — | $253.7M | — | as long as short |
| Extended 1000PEPE-USD | +0.0792% | 1h | 0.000004893 | +0.019% | $537K | $146K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0792% | 8h | 0.000004885 | −0.149% | $114.9M | $280.7M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0792% | 1h | 0.000004895 | +0.061% | $138K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0793% | 8h | 0.000004893 | +0.029% | $131.4M | $987.3M | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0858% | 8h | 0.000004897 | +0.108% | $1.5M | $6.7M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0976% | 1h | 0.000004899 | +0.143% | $79K | $91K | 25x | as long as short |
SunX 1000PEPE-USDT
HTX PEPE-USDT
SoDEX 1000PEPE-USD
Bitget PEPEUSDT
Reya kPEPERUSDPERP
BloFin PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Nado kPEPE-PERP
ApeX Omni 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL