Funding you earn now, next payment 00:00 UTC−0.0469%/8h= −51.4% APRnext payment −$0.59 per $10,000 · paid last 24h −0.058%
Price spread now: ApeX Omni against Backpack+0.051%84s7-day average −0.021% · you sell dearer than you buy
Net, funding: paid 7d − costs−$60as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$450.453% of the position
Funding, last 7 days−0.149%−$15 on $10k
+Price spread, last 3 days (all we have)+0.040%+$4 · spread now +0.051%, 7d avg −0.021%
=The price spread pays, funding is against you. ApeX Omni is 0.071% dearer against Backpack than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.021%): +$7 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.149% in total) that is about 3.4 days. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.149% in total (about -7.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.59 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 | Backpack kPEPE_USDC_PERP | 0.000004743 | 0.0569 | pay 0.0071% / 1h | 21m 41s | $90K | $602K | 15x |
| Short | ApeX Omni 1000PEPEUSDT | 0.000004745 | 0.0100 | get 0.0013% / 1h | 21m 41s | $99K | $754K | 25x |
Backpack kPEPE_USDC_PERP
ApeX Omni 1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
ApeX Omni against Backpack. 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
- −$98.56
- Price spread: +0.051% → −0.021%
- $7.15
- Slippage, 4 orders
- −$25.28
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Net
- −$136.7
- Costs to cover
- 0.453%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 57 min ago; ApeX Omni: 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 Backpack live order book, 57 min ago | 3.23 bp | 11.8 bp −$12 | 30.4 bp −$304 | doesn't fit | doesn't fit |
| Sell ApeX Omni live order book, 57 min ago | 5.11 bp | 13.0 bp −$13 | 70.9 bp −$709 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid kPEPE | −0.0206% | 1h | 0.000004734 | −0.181% | $66.8M | $93.8M | 10x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004734 | −0.177% | $17K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000004734 | −0.186% | $13K | — | 150x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0067% | 1h | 0.000004738 | −0.088% | $3.8M | $13.7M | 50x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004737 | −0.118% | $59K | $116K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004734 | −0.190% | $85.9M | $291.7M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004737 | −0.118% | $149.0M | $64.7M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004737 | −0.116% | $24.2M | $54.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000004737 | −0.127% | $41.8M | $150.4M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004753 | +0.218% | $536K | $4.1M | — | as long as short |
Hyperliquid kPEPE
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Kraken Futures PF_PEPEUSD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPEShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004750 | +0.147% | $25K | $349K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDTshort | +0.0100% | 1h | 0.000004745 | +0.051% | $99K | $754K | 25x | |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004748 | +0.105% | $1K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004740 | −0.055% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004739 | −0.078% | $534K | $3.5M | 75x | as long as short |
| Lighter 1000PEPE | +0.0120% | 1h | 0.000004739 | −0.076% | $577K | $6.4M | 10x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0177% | 8h | 0.000004737 | −0.117% | $5K | $16 | 20x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004737 | −0.108% | $7K | — | 15x | as long as short |
| Phemex u1000PEPEUSDT | +0.0200% | 8h | 0.000004737 | −0.127% | $2.3M | $6.5M | 50x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0201% | 8h | 0.000004736 | −0.139% | $41.1M | $493.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0272% | 1h | 0.000004738 | −0.097% | $543 | $2K | 10x | as long as short |
| BloFin PEPE-USDT | +0.0322% | 8h | 0.000004749 | +0.135% | $3.9M | $22.3M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0378% | 8h | 0.000004738 | −0.105% | $29K | $13K | 20x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0383% / S −0.0439% | 1h | 0.000004000 | −15.658% | $42K | — | 100x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0400% | 1h | 0.000004736 | −0.139% | $578K | $25.5M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0437% | 1h | 0.000004755 | +0.261% | $4K | $102K | 12x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0569% | 1h | 0.000004743 | long leg | $90K | $602K | 15x | |
| Aster 1000PEPEUSDT | +0.0593% | 8h | 0.000004739 | −0.070% | $1.5M | $7.3M | 50x | as long as short |
| MEXC PEPE_USDT | +0.0597% | 8h | 0.000004740 | −0.065% | $88.5M | $281.9M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0598% | 8h | 0.000004737 | −0.115% | $130.5M | $1.06B | 75x | as long as short |
| BingX 1000PEPE-USDC | +0.0598% | 8h | 0.000004735 | −0.156% | — | $2.3M | — | as long as short |
| Extended 1000PEPE-USD | +0.0600% | 1h | 0.000004735 | −0.164% | $521K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0608% | 1h | 0.000004739 | −0.076% | $134K | — | 3x | as long as short |
| Nado kPEPE-PERP | +0.0653% | 1h | 0.000004741 | −0.041% | $181K | $849K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0806% | 1h | 0.000004741 | −0.034% | $76K | $98K | 25x | as long as short |
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Lighter 1000PEPE
Paradex kPEPE-USD-PERP
Reya kPEPERUSDPERP
Phemex u1000PEPEUSDT
OKX PEPE-USDT-SWAP
01 Exchange kPEPEUSD
BloFin PEPE-USDT
Orderly PERP_1000PEPE_USDC
GMX PEPE/USD [ETH-USDC]
Coinbase International 1000PEPE-PERP-INTX
Injective PEPE/USDC PERP
Aster 1000PEPEUSDT
MEXC PEPE_USDT
Binance 1000PEPEUSDT
BingX 1000PEPE-USDC
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL