Funding you earn now, next payment 23:00 UTC−0.0203%/8h= −22.2% APRnext payment −$0.25 per $10,000 · paid last 24h +0.041%
Price spread now: Backpack against Aevo−0.062%7-day average +0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$4,651as in the Funding arb table
Net, price: spread back to 7d avg − costs−$4,673as in the Price arb table
costs, in and out, $10k−$4,66646.657% of the position
Funding, last 7 days+0.145%+$15 on $10k
+Price spread, last 3 days (all we have)−0.159%−$16 · spread now −0.062%, 7d avg +0.008%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Backpack is 0.070% cheaper against Aevo than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.008%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.145%, 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 | Aevo 1000PEPE-PERP | 0.000004824 | 0.0800 | pay 0.0100% / 1h | 26m 51s | $136K | — | 3x |
| Short | Backpack kPEPE_USDC_PERP | 0.000004821 | 0.0597 | get 0.0075% / 1h | 26m 51s | $92K | $615K | 15x |
Aevo 1000PEPE-PERP
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Aevo. 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
- −$42.57
- Price spread: −0.062% → +0.008%
- −$6.99
- Slippage, 4 orders
- −$4,639.67
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$4,715.23
- Costs to cover
- 46.657%
- Break-even
- never at this rate
Slippage from Aevo: live order book, 57 min ago; Backpack: live order book, 57 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 Aevo live order book, 57 min ago | 408.35 bp | 1709.8 bp −$1,710 | doesn't fit | doesn't fit | doesn't fit |
| Sell Backpack live order book, 57 min ago | 0.10 bp | 5.4 bp −$5 | 17.0 bp −$170 | 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 | 0.000004812 | −0.241% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004814 | −0.205% | $14K | — | 150x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004811 | −0.269% | $578K | $5.6M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004810 | −0.290% | $62.6M | $80.0M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004818 | −0.124% | $60K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004813 | −0.218% | $87.3M | $281.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004812 | −0.249% | $149.9M | $63.0M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004818 | −0.131% | $24.8M | $54.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004818 | −0.126% | $574K | $4.0M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004819 | −0.105% | $27K | $342K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Lighter 1000PEPE
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 | 0.000004827 | +0.068% | $1K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004822 | −0.041% | $3K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004817 | −0.147% | $543K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0140% | 8h | 0.000004811 | −0.263% | $42.4M | $151.9M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004816 | −0.157% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0205% | 8h | 0.000004816 | −0.166% | $41.9M | $492.4M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0212% / S −0.0091% | 1h | 0.000004000 | −17.081% | $54K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0323% | 8h | 0.000004823 | −0.021% | $3.9M | $22.2M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0339% | 8h | 0.000004817 | −0.154% | $5K | $16 | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0375% | 8h | 0.000004828 | +0.077% | $2.3M | $6.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0432% | 1h | 0.000004820 | −0.083% | $552 | $2K | 10x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0446% | 8h | 0.000004824 | +0.002% | $29K | $11K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0448% | 1h | 0.000004822 | −0.041% | $600K | $25.7M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0580% | 1h | 0.000004821 | −0.062% | $81K | $94K | 25x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0596% | 1h | 0.000004818 | −0.124% | $102K | $763K | 25x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0597% | 1h | 0.000004821 | −0.062% | $92K | $615K | 15x | |
| Nado kPEPE-PERP | +0.0744% | 1h | 0.000004820 | −0.074% | $186K | $855K | 10x | as long as short |
| Binance 1000PEPEUSDT | +0.0797% | 8h | 0.000004809 | −0.311% | $130.3M | $1.04B | 75x | as long as short |
| BingX 1000PEPE-USDC | +0.0799% | 8h | 0.000004818 | −0.135% | — | $2.3M | — | as long as short |
| Extended 1000PEPE-USD | +0.0800% | 1h | 0.000004815 | −0.177% | $529K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERPlong | +0.0800% | 1h | 0.000004824 | long leg | $136K | — | 3x | |
| MEXC PEPE_USDT | +0.0806% | 8h | 0.000004819 | −0.106% | $91.6M | $284.4M | 300x | as long as short |
| Aster 1000PEPEUSDT | +0.0824% | 8h | 0.000004819 | −0.095% | $1.5M | $7.1M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0873% | 1h | 0.000004833 | +0.187% | $4K | $103K | 12x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1323% | 1h | 0.000004820 | −0.074% | $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
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Deribit 1000PEPE_USDC-PERPETUAL
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
Binance 1000PEPEUSDT
BingX 1000PEPE-USDC
Extended 1000PEPE-USD
MEXC PEPE_USDT
Aster 1000PEPEUSDT
Injective PEPE/USDC PERP
Kraken Futures PF_PEPEUSD