PEPE

Alert

Funding spread now, next payment 19:00 UTC+0.0370%/8h

next payment, per $10,000+$0.46paid, last 24h−0.053%paid, last 5 days−0.146%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 5 days it paid -0.146% in total (about -11.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.46 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	0.000004946	0.0593	pay 0.0074% / 1h	35m 04s	$96K	$533K	15x
Short	Deribit 1000PEPE_USDC-PERPETUAL	0.000004951	0.0963	get 0.0120% / 1h	35m 04s	$84K	$86K	25x

Funding history

latest

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Funding on every exchange

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Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee DeribitbpOrdersRate

Funding earned: $77.75
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $60.75
Break-even: 1.5 days

Slippage unknown: Backpack: live order book, 65 min ago; Deribit: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.093%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 65 min ago	0.10 bp	8.1 bp −$8	31.8 bp −$318	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PEPE on 35 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
dYdX PEPE-USD	0.0000%	1h	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	$18K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	$63K	$91K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	$87.8M	$245.2M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	$42.3M	$461.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	$146.1M	$55.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	$26.4M	$41.5M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	$45.8M	$127.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	$702K	$3.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	$28K	$325K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	$2K	$2.3M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	$574K	$3.6M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0179% / S −0.0030%	1h	$65K	—	100x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	$7K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0202%	8h	$30K	$9K	20x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	$4.0M	$19.9M	75x	as long as short
Nado kPEPE-PERP	+0.0289%	1h	$197K	$757K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0356%	1h	$92K	$752K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0357%	1h	$2K	$8K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0454%	8h	$2.5M	$6.0M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0456%	8h	$6K	$52	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0512%	1h	$671K	$23.6M	50x	as long as short
Backpack kPEPE_USDC_PERPlong	+0.0593%	1h	$96K	$533K	15x
BingX 1000PEPE-USDC	+0.0611%	8h	—	$2.3M	—	as long as short
Hyperliquid kPEPE	+0.0614%	1h	$55.2M	$57.0M	10x	as long as short
Aevo 1000PEPE-PERP	+0.0648%	1h	$140K	—	3x	as long as short
MEXC PEPE_USDT	+0.0650%	8h	$109.0M	$267.6M	300x	as long as short
Extended 1000PEPE-USD	+0.0656%	1h	$544K	$128K	25x	as long as short
Binance 1000PEPEUSDT	+0.0656%	8h	$130.0M	$899.4M	75x	as long as short
01 Exchange kPEPEUSD	+0.0688%	1h	$566	$2K	10x	as long as short
Lighter 1000PEPE	+0.0720%	1h	$619K	$4.7M	10x	as long as short
Aster 1000PEPEUSDT	+0.0843%	8h	$1.4M	$5.7M	50x	as long as short
Injective PEPE/USDC PERP	+0.0921%	1h	$5K	$67K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUALshort	+0.0963%	1h	$84K	$86K	25x
Kraken Futures PF_PEPEUSD	+0.1104%	1h	$3.6M	$10.4M	50x	as long as short