Funding you earn now, next payment 09:00 UTC−0.0707%/8h= −77.4% APRnext payment −$0.88 per $10,000 · paid last 24h 0.000%
Price spread now: Deribit against Nado−0.174%7-day average −0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$57as in the Price arb table
costs, in and out, $10k−$420.417% of the position
Funding, last 4 days (all we have)−0.053%−$5 on $10k
+Price spread, last 4 days (all we have)+0.250%+$25 · spread now −0.174%, 7d avg −0.017%
=Together, before fees+0.197%+ Points / potential airdropNado: Active · farm board+$20 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Deribit is 0.158% cheaper against Nado than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.017%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.053% in total (about -5.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.88 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 | Nado kPEPE-PERP | 0.000005129 | 0.1043 | pay 0.0130% / 1h | 57m 35s | $163K | $960K | 10x |
| Short | Deribit 1000PEPE_USDC-PERPETUAL | 0.000005120 | 0.0336 | get 0.0042% / 1h | 57m 35s | $73K | $128K | 25x |
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Nado. 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
- −$148.4
- Price spread: −0.174% → −0.017%
- −$15.75
- Slippage, 4 orders
- −$27.72
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$205.87
- Costs to cover
- 0.417%
- Break-even
- never at this rate
Slippage from Nado: live order book, 41 min ago; Deribit: live order book, 6 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 Nado live order book, 41 min ago | 2.91 bp | 11.2 bp −$11 | 26.6 bp −$266 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 6 min ago | 4.86 bp | 10.3 bp −$10 | 19.5 bp −$195 | 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 | 0.000005122 | −0.130% | $19K | $649 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005123 | −0.108% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005120 | −0.174% | $60K | $186K | 10x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005120 | −0.174% | $164.2M | $98.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005140 | +0.212% | $625K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005134 | +0.091% | $28K | $549K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005135 | +0.126% | $2K | $2.7M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005120 | −0.174% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005118 | −0.221% | $600K | $4.2M | 75x | as long as short |
| Injective PEPE/USDC PERP | +0.0147% | 1h | 0.000005133 | +0.079% | $8K | $120K | 12x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Injective PEPE/USDC PERPShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin PEPEUSDTM | +0.0149% | 8h | 0.000005109 | −0.399% | $26.8M | $74.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005130 | +0.018% | $8K | — | 15x | as long as short |
| Bybit 1000PEPEUSDT | +0.0191% | 8h | 0.000005128 | −0.024% | $99.1M | $433.6M | 50x | as long as short |
| Bitget PEPEUSDT | +0.0233% | 8h | 0.000005124 | −0.087% | $46.0M | $221.6M | 75x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0257% | 1h | 0.000005122 | −0.136% | $149K | $836K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0292% | 1h | 0.000005111 | −0.358% | $76K | $895K | 15x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALshort | +0.0336% | 1h | 0.000005120 | −0.174% | $73K | $128K | 25x | |
| Hyperliquid kPEPE | +0.0344% | 1h | 0.000005109 | −0.389% | $52.9M | $159.8M | 10x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0354% | 8h | 0.000005129 | +0.001% | $46.8M | $748.0M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0422% | 8h | 0.000005131 | +0.050% | $34K | $26K | 20x | as long as short |
| Lighter 1000PEPE | +0.0424% | 1h | 0.000005128 | −0.019% | $621K | $9.0M | 10x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0432% | 8h | 0.000005128 | −0.014% | $6K | — | 20x | as long as short |
| 01 Exchange kPEPEUSD | +0.0448% | 1h | 0.000005127 | −0.038% | $618 | $2K | 10x | as long as short |
| BloFin PEPE-USDT | +0.0472% | 8h | 0.000005132 | +0.059% | $4.5M | $30.4M | 75x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0504% | 1h | 0.000005132 | +0.059% | $671K | $39.8M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0620% | 1h | 0.000005116 | −0.245% | $4.7M | $16.7M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0665% | 8h | 0.000005126 | −0.063% | — | $175.5M | — | as long as short |
| Extended 1000PEPE-USD | +0.0688% | 1h | 0.000005124 | −0.103% | $536K | $279K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0688% | 8h | 0.000005132 | +0.063% | $100.2M | $305.3M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0688% | 1h | 0.000005148 | +0.371% | $146K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0688% | 8h | 0.000005119 | −0.203% | $141.3M | $1.51B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0700% | 8h | 0.000005121 | −0.156% | $1.7M | $12.0M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1019% / S −0.1217% | 1h | 0.000005000 | −2.514% | $50K | — | 100x | as long as short |
| Nado kPEPE-PERPlong | +0.1043% | 1h | 0.000005129 | long leg | $163K | $960K | 10x | |
| Phemex u1000PEPEUSDT | +0.2945% | 8h | 0.000005117 | −0.241% | $2.4M | $8.1M | 50x | as long as short |
KuCoin PEPEUSDTM
Reya kPEPERUSDPERP
Bybit 1000PEPEUSDT
Bitget PEPEUSDT
ApeX Omni 1000PEPEUSDT
Backpack kPEPE_USDC_PERP
Hyperliquid kPEPE
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
Lighter 1000PEPE
Paradex kPEPE-USD-PERP
01 Exchange kPEPEUSD
BloFin PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Phemex u1000PEPEUSDT