Funding you earn now, next payment 22:00 UTC+0.0352%/8h= +38.5% APRnext payment +$0.44 per $10,000 · paid last 24h −0.049%
Price spread now: Coinbase International against Lighter+0.063%7-day average −0.035% · you sell dearer than you buy
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$370.367% of the position
Funding, last 7 days−0.136%−$14 on $10k
+Price spread, last 3 days (all we have)−0.089%−$9 · spread now +0.063%, 7d avg −0.035%
=Together, before fees−0.225%+ Points / potential airdropLighter: Season 3 · farm board−$22 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Coinbase International is 0.098% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.035%. Mind the row above: over the last 7 days funding on this pair cost −0.136%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.136% in total (about -7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 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 | Lighter 1000PEPE | 0.000004793 | 0.0096 | pay 0.0012% / 1h | 9m 40s | $668K | $6.0M | 10x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000004796 | 0.0448 | get 0.0056% / 1h | 9m 40s | $582K | $25.5M | 50x |
Lighter 1000PEPE
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $73.92
- Price spread: +0.063% → −0.035%
- $9.8
- Slippage, 4 orders
- −$26.69
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $47.03
- Costs to cover
- 0.367%
- Break-even
- 2.5 days
Slippage from Lighter: live order book, 8 min ago; Coinbase International: 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 Lighter live order book, 8 min ago | 4.18 bp | 10.3 bp −$10 | 21.3 bp −$213 | 46.2 bp −$4,622 | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 3.13 bp | 10.6 bp −$11 | 14.1 bp −$141 | 49.9 bp −$4,993 | 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 | 0.000004789 | −0.093% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004789 | −0.073% | $14K | — | 150x | as long as short |
| Lighter 1000PEPElong | +0.0096% | 1h | 0.000004793 | long leg | $668K | $6.0M | 10x | |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004789 | −0.083% | $62.9M | $83.1M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004792 | −0.021% | $59K | $114K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004791 | −0.042% | $87.0M | $283.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004788 | −0.104% | $150.4M | $63.5M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004790 | −0.058% | $24.7M | $54.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004794 | +0.018% | $543K | $4.0M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004795 | +0.047% | $28K | $343K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
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 | 0.000004796 | +0.052% | $1K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004796 | +0.063% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004792 | −0.017% | $540K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0110% | 8h | 0.000004790 | −0.058% | $42.1M | $148.8M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004788 | −0.097% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0219% | 8h | 0.000004792 | −0.021% | $41.5M | $491.4M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0268% | 8h | 0.000004793 | +0.010% | $5K | $16 | 20x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0328% / S −0.0354% | 1h | 0.000004000 | −16.545% | $43K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0338% | 8h | 0.000004795 | +0.042% | $3.9M | $22.1M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0342% | 8h | 0.000004794 | +0.015% | $2.3M | $6.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0408% | 1h | 0.000004789 | −0.083% | $549 | $2K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0447% | 1h | 0.000004792 | −0.021% | $101K | $763K | 25x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0448% | 1h | 0.000004796 | +0.063% | $582K | $25.5M | 50x | |
| Orderly PERP_1000PEPE_USDC | +0.0450% | 8h | 0.000004794 | +0.021% | $29K | $11K | 20x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0544% | 1h | 0.000004794 | +0.019% | $91K | $615K | 15x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0585% | 1h | 0.000004794 | +0.021% | $81K | $94K | 25x | as long as short |
| BingX 1000PEPE-USDT | +0.0726% | 8h | 0.000004793 | −0.004% | — | $256.4M | — | as long as short |
| Binance 1000PEPEUSDT | +0.0745% | 8h | 0.000004793 | −0.010% | $130.4M | $1.04B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0750% | 8h | 0.000004792 | −0.023% | $91.4M | $285.9M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0752% | 1h | 0.000004791 | −0.038% | $526K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0752% | 1h | 0.000004795 | +0.042% | $136K | — | 3x | as long as short |
| Nado kPEPE-PERP | +0.0754% | 1h | 0.000004792 | −0.024% | $184K | $845K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0764% | 8h | 0.000004792 | −0.024% | $1.5M | $7.2M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0873% | 1h | 0.000004814 | +0.438% | $4K | $103K | 12x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1330% | 1h | 0.000004795 | +0.032% | $3.9M | $13.3M | 50x | as long as short |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Bitget PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
ApeX Omni 1000PEPEUSDT
Orderly PERP_1000PEPE_USDC
Backpack kPEPE_USDC_PERP
Deribit 1000PEPE_USDC-PERPETUAL
BingX 1000PEPE-USDT
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Nado kPEPE-PERP
Aster 1000PEPEUSDT
Injective PEPE/USDC PERP
Kraken Futures PF_PEPEUSD