Funding you earn now, next payment 07:00 UTC−0.0200%/8h= −21.9% APRnext payment −$0.25 per $10,000 · paid last 24h +0.054%
Price spread now: Lighter against Nado+0.092%7-day average +0.050% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$290.295% of the position
Funding, last 3 days (all we have)+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.092%, 7d avg +0.050%
=Together, before fees−0.069%+ Points / potential airdropNado: Active · Lighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.042% dearer against Nado than usual: you sell high and buy low (spread +0.092% now, against its 7-day average of +0.050%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 17 hours. Mind the row above: over the last 3 days funding on this pair paid +0.050%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.050% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 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 | 0.000005076 | 0.0768 | pay 0.0096% / 1h | 33m 17s | $163K | $959K | 10x |
| Short | Lighter 1000PEPE | 0.000005081 | 0.0568 | get 0.0071% / 1h | 33m 17s | $606K | $9.0M | 10x |
Nado kPEPE-PERP
Lighter 1000PEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$41.97
- Price spread: +0.092% → +0.050%
- $4.21
- Slippage, 4 orders
- −$22.46
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$67.22
- Costs to cover
- 0.295%
- Break-even
- never at this rate
Slippage from Nado: live order book, 10 min ago; Lighter: live order book, 5 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, 10 min ago | 2.90 bp | 11.6 bp −$12 | 35.2 bp −$352 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 1.95 bp | 3.0 bp −$3 | 14.9 bp −$149 | 45.7 bp −$4,571 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PEPE/USDC PERP | −0.0016% | 1h | 0.000005077 | +0.013% | $9K | $120K | 12x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005071 | −0.105% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005071 | −0.097% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005078 | +0.033% | $59K | $181K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005078 | +0.033% | $99.4M | $418.4M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005074 | −0.046% | $161.7M | $96.9M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005078 | +0.025% | $25.7M | $72.4M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005114 | +0.734% | $611K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005128 | +1.010% | $28K | $542K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005086 | +0.187% | $1K | $2.7M | 20x | as long as short |
Injective PEPE/USDC PERP
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005077 | +0.007% | $587K | $4.2M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0163% | 1h | 0.000005080 | +0.072% | $2K | $11K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0188% | 1h | 0.000005132 | +1.097% | $155K | $822K | 25x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005079 | +0.054% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0292% | 8h | 0.000005080 | +0.076% | $45.5M | $215.4M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0341% | 1h | 0.000005078 | +0.033% | $72K | $127K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0377% | 1h | 0.000005077 | +0.011% | $72K | $857K | 15x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0388% | 8h | 0.000005081 | +0.088% | $33K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0411% | 8h | 0.000005079 | +0.053% | $47.2M | $720.7M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0460% | 1h | 0.000005078 | +0.030% | $4.6M | $16.5M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0498% | 8h | 0.000005079 | +0.047% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0535% | 8h | 0.000005077 | +0.013% | $4.5M | $29.2M | 75x | as long as short |
| Lighter 1000PEPEshort | +0.0568% | 1h | 0.000005081 | +0.092% | $606K | $9.0M | 10x | |
| Phemex u1000PEPEUSDT | +0.0579% | 8h | 0.000005081 | +0.084% | $2.4M | $8.0M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0624% | 1h | 0.000005083 | +0.131% | $687K | $38.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0664% | 1h | 0.000005083 | +0.131% | $613 | $3K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0734% | 8h | 0.000005078 | +0.029% | — | $2.3M | — | as long as short |
| MEXC PEPE_USDT | +0.0765% | 8h | 0.000005080 | +0.080% | $97.0M | $304.2M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0765% | 8h | 0.000005081 | +0.086% | $139.4M | $1.46B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0768% | 8h | 0.000005080 | +0.066% | $1.8M | $11.7M | 50x | as long as short |
| Nado kPEPE-PERPlong | +0.0768% | 1h | 0.000005076 | long leg | $163K | $959K | 10x | |
| Extended 1000PEPE-USD | +0.0768% | 1h | 0.000005078 | +0.038% | $538K | $279K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0768% | 1h | 0.000005082 | +0.112% | $144K | — | 3x | as long as short |
| Hyperliquid kPEPE | +0.0970% | 1h | 0.000005081 | +0.092% | $53.3M | $155.9M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1130% / S −0.2257% | 1h | 0.000005000 | −1.504% | $63K | — | 100x | as long as short |
HTX PEPE-USDT
SoDEX 1000PEPE-USD
ApeX Omni 1000PEPEUSDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
Backpack kPEPE_USDC_PERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Kraken Futures PF_PEPEUSD
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
BingX 1000PEPE-USDC
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]