Funding you earn now, next payment 06:00 UTC+0.0279%/8h= +30.6% APRnext payment +$0.35 per $10,000 · paid last 24h −0.058%
Price spread now: Deribit against Lighter−0.039%7-day average −0.069% · you buy dearer than you sell
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$400.396% of the position
Funding, last 7 days−0.148%−$15 on $10k
+Price spread, last 4 days (all we have)+0.163%+$16 · spread now −0.039%, 7d avg −0.069%
=Together, before fees+0.014%+ Points / potential airdropLighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Deribit is 0.030% dearer against Lighter than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.069%. Mind the row above: over the last 7 days funding on this pair cost −0.148%, 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 -0.148% in total (about -7.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 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 | 0.000005105 | 0.0648 | pay 0.0081% / 1h | 17m 50s | $604K | $9.1M | 10x |
| Short | Deribit 1000PEPE_USDC-PERPETUAL | 0.000005103 | 0.0927 | get 0.0116% / 1h | 17m 50s | $73K | $127K | 25x |
Lighter 1000PEPE
Deribit 1000PEPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $58.62
- Price spread: −0.039% → −0.069%
- $3.02
- Slippage, 4 orders
- −$32.61
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $22.03
- Costs to cover
- 0.396%
- Break-even
- 4.4 days
Slippage from Lighter: live order book, 6 min ago; Deribit: live order book, 61 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, 6 min ago | 7.96 bp | 9.6 bp −$10 | 15.1 bp −$151 | 46.7 bp −$4,674 | doesn't fit |
| Sell Deribit live order book, 61 min ago | 6.69 bp | 10.2 bp −$10 | doesn't fit | 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 | 0.000005093 | −0.235% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005099 | −0.119% | $3K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005096 | −0.176% | $58K | $178K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005082 | −0.451% | $99.8M | $407.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005079 | −0.509% | $162.5M | $94.7M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005086 | −0.378% | $25.3M | $71.1M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005062 | −0.850% | $602K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005066 | −0.770% | $28K | $539K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005109 | +0.086% | $1K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005101 | −0.072% | $573K | $4.1M | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005104 | −0.010% | $8K | — | 15x | as long as short |
| SoDEX 1000PEPE-USD | +0.0244% | 1h | 0.000005102 | −0.059% | $2K | $10K | 10x | as long as short |
| Bitget PEPEUSDT | +0.0335% | 8h | 0.000005080 | −0.490% | $45.4M | $211.2M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0393% | 8h | 0.000005102 | −0.057% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0423% | 8h | 0.000005084 | −0.411% | $46.8M | $699.6M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0546% | 8h | 0.000005093 | −0.235% | $4.4M | $28.6M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0569% | 8h | 0.000005090 | −0.290% | $6K | — | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0606% | 8h | 0.000005104 | −0.012% | $2.4M | $7.9M | 50x | as long as short |
| Lighter 1000PEPElong | +0.0648% | 1h | 0.000005105 | long leg | $604K | $9.1M | 10x | |
| Nado kPEPE-PERP | +0.0660% | 1h | 0.000005109 | +0.081% | $169K | $944K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0672% | 1h | 0.000005094 | −0.221% | $74K | $835K | 15x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0680% | 1h | 0.000005106 | +0.020% | $655K | $37.6M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0688% | 1h | 0.000005109 | +0.078% | $616 | $3K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0717% | 1h | 0.000005024 | −1.587% | $154K | $813K | 25x | as long as short |
| BingX 1000PEPE-USDT | +0.0755% | 8h | 0.000005081 | −0.472% | — | $239.5M | — | as long as short |
| Extended 1000PEPE-USD | +0.0800% | 1h | 0.000005082 | −0.451% | $539K | $277K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000005106 | +0.020% | $144K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0801% | 8h | 0.000005084 | −0.407% | $98.0M | $303.1M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0802% | 8h | 0.000005080 | −0.488% | $142.1M | $1.42B | 75x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0837% | 1h | 0.000005100 | −0.106% | $4.6M | $16.7M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0847% | 8h | 0.000005084 | −0.415% | $1.8M | $11.3M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALshort | +0.0927% | 1h | 0.000005103 | −0.039% | $73K | $127K | 25x | |
| Hyperliquid kPEPE | +0.1003% | 1h | 0.000005095 | −0.196% | $53.9M | $152.9M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1131% / S −0.2171% | 1h | 0.000005000 | −2.057% | $64K | — | 100x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000005027 | −1.528% | $3K | $111K | 12x | as long as short |
Reya kPEPERUSDPERP
SoDEX 1000PEPE-USD
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
ApeX Omni 1000PEPEUSDT
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
Aster 1000PEPEUSDT
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]
Injective PEPE/USDC PERP