Funding you earn now, next payment 23:00 UTC+0.0210%/8h= +23.0% APRpaid last 24h −0.077%
Price spread now: BingX against Backpack−0.046%7-day average −0.019% · you buy dearer than you sell
Net, funding: paid 7d − costs−$62as in the Funding arb table
Net, price: spread back to 7d avg − costs−$50as in the Price arb table
costs, in and out, $10k−$480.477% of the position
Funding, last 7 days−0.143%−$14 on $10k
+Price spread, last 4 days (all we have)−0.095%−$10 · spread now −0.046%, 7d avg −0.019%
=Funding pays, the price is against you. BingX is 0.027% cheaper against Backpack than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of −0.019%). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.143%, 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 -0.143% in total (about -7.5% a year). A funding rate is set anew for every payment. 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 | 0.000004825 | 0.0589 | pay 0.0074% / 1h | 28m 27s | $92K | $615K | 15x |
| Short | BingX 1000PEPE-USDC | 0.000004823 | 0.0799 | get 0.0799% / 8h | 1h 28m | — | $2.3M | — |
Backpack kPEPE_USDC_PERP
BingX 1000PEPE-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX 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
- $44.05
- Price spread: −0.046% → −0.019%
- −$2.66
- Slippage, 4 orders
- −$27.74
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$6.35
- Costs to cover
- 0.477%
- Break-even
- 8.0 days
Slippage from Backpack: live order book, 55 min ago; BingX: 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 Backpack live order book, 55 min ago | 0.10 bp | 13.7 bp −$14 | 36.5 bp −$365 | doesn't fit | doesn't fit |
| Sell BingX live order book, 5 min ago | 0.73 bp | 13.5 bp −$14 | 21.3 bp −$213 | 87.6 bp −$8,763 | 233.2 bp −$116.6K |
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 | 0.000004829 | +0.084% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004820 | −0.097% | $14K | — | 150x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004836 | +0.232% | $576K | $5.6M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004824 | −0.017% | $62.6M | $79.7M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004832 | +0.149% | $60K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004822 | −0.058% | $87.4M | $281.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004826 | +0.025% | $150.2M | $62.9M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004824 | −0.008% | $24.8M | $54.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004818 | −0.143% | $574K | $4.0M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004832 | +0.144% | $27K | $344K | 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 | 0.000004829 | +0.095% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004824 | −0.017% | $3K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004820 | −0.093% | $545K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0142% | 8h | 0.000004829 | +0.085% | $42.5M | $151.8M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004827 | +0.051% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0203% | 8h | 0.000004823 | −0.037% | $41.9M | $492.8M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0212% / S −0.0091% | 1h | 0.000004000 | −17.095% | $54K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0323% | 8h | 0.000004820 | −0.099% | $3.9M | $22.2M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0344% | 8h | 0.000004834 | +0.200% | $5K | $16 | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0390% | 8h | 0.000004827 | +0.056% | $2.3M | $6.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0432% | 1h | 0.000004836 | +0.232% | $554 | $2K | 10x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0446% | 8h | 0.000004824 | −0.023% | $29K | $11K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0448% | 1h | 0.000004822 | −0.058% | $595K | $25.7M | 50x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0589% | 1h | 0.000004825 | long leg | $92K | $615K | 15x | |
| ApeX Omni 1000PEPEUSDT | +0.0656% | 1h | 0.000004829 | +0.087% | $103K | $764K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0732% | 1h | 0.000004829 | +0.087% | $186K | $855K | 10x | as long as short |
| BingX 1000PEPE-USDCshort | +0.0799% | 8h | 0.000004823 | −0.046% | — | $2.3M | — | |
| Binance 1000PEPEUSDT | +0.0807% | 8h | 0.000004825 | +0.015% | $130.8M | $1.04B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0808% | 1h | 0.000004821 | −0.085% | $529K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0808% | 1h | 0.000004825 | +0.004% | $136K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0811% | 8h | 0.000004828 | +0.073% | $91.6M | $284.3M | 300x | as long as short |
| Aster 1000PEPEUSDT | +0.0828% | 8h | 0.000004834 | +0.197% | $1.5M | $7.0M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0873% | 1h | 0.000004825 | +0.004% | $4K | $103K | 12x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0995% | 1h | 0.000004824 | −0.017% | $82K | $94K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1323% | 1h | 0.000004822 | −0.054% | $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
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Aster 1000PEPEUSDT
Injective PEPE/USDC PERP
Deribit 1000PEPE_USDC-PERPETUAL
Kraken Futures PF_PEPEUSD