Funding you earn now, next payment 21:00 UTC−0.0330%/8h= −36.1% APRpaid last 24h −0.084%
Price spread now: Gate against Backpack−0.071%7-day average −0.018% · you buy dearer than you sell
Net, funding: paid 7d − costs−$61as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$400.396% of the position
Funding, last 7 days−0.210%−$21 on $10k
+Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.071%, 7d avg −0.018%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Gate is 0.053% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.018%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.210% in total (about -11.0% 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 | 0.000004900 | 0.0430 | pay 0.0054% / 1h | 21m 59s | $93K | $584K | 15x |
| Short | Gate PEPE_USDT | 0.000004897 | 0.0100 | get 0.0100% / 8h | 3h 21m | $149.3M | $60.0M | 75x |
Backpack kPEPE_USDC_PERP
Gate PEPE_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate 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
- −$69.32
- Price spread: −0.071% → −0.018%
- −$5.34
- Slippage, 4 orders
- −$14.6
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$114.27
- Costs to cover
- 0.396%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 6 min ago; Gate: live order book, 7 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, 6 min ago | 0.10 bp | 9.1 bp −$9 | 47.5 bp −$475 | doesn't fit | doesn't fit |
| Sell Gate live order book, 7 min ago | 2.04 bp | 11.4 bp −$11 | 14.8 bp −$148 | 54.8 bp −$5,478 | 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 | 0.000004890 | −0.223% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004889 | −0.237% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004889 | −0.235% | $58K | $105K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004898 | −0.055% | $88.5M | $265.7M | 50x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0100% | 8h | 0.000004902 | +0.031% | $43.0M | $487.1M | 50x | as long as short |
| Gate PEPE_USDTshort | +0.0100% | 8h | 0.000004897 | −0.071% | $149.3M | $60.0M | 75x | |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004900 | −0.014% | $25.2M | $48.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004938 | +0.757% | $744K | $3.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004907 | +0.133% | $28K | $332K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004912 | +0.237% | $2K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
OKX PEPE-USDT-SWAP
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 | 0.000004891 | −0.194% | $566K | $3.7M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0167% | 8h | 0.000004901 | +0.016% | $46.5M | $139.5M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0177% | 1h | 0.000004902 | +0.031% | $2K | $9K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004898 | −0.043% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0220% | 8h | 0.000004897 | −0.071% | $4.1M | $21.6M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0301% / S −0.0208% | 1h | 0.000004000 | −18.376% | $52K | — | 100x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0323% | 8h | 0.000004905 | +0.088% | $31K | $10K | 20x | as long as short |
| Hyperliquid kPEPE | +0.0364% | 1h | 0.000004901 | +0.010% | $56.3M | $64.5M | 10x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0427% | 8h | 0.000004888 | −0.249% | $5K | $26 | 20x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0430% | 1h | 0.000004900 | long leg | $93K | $584K | 15x | |
| ApeX Omni 1000PEPEUSDT | +0.0460% | 1h | 0.000004898 | −0.051% | $101K | $756K | 25x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004900 | −0.010% | $622K | $25.0M | 50x | as long as short |
| Phemex u1000PEPEUSDT | +0.0465% | 8h | 0.000004899 | −0.039% | $2.4M | $6.2M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0680% | 1h | 0.000004896 | −0.092% | $561 | $2K | 10x | as long as short |
| Nado kPEPE-PERP | +0.0708% | 1h | 0.000004897 | −0.067% | $193K | $854K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0779% | 8h | 0.000004889 | −0.235% | — | $2.3M | — | as long as short |
| Extended 1000PEPE-USD | +0.0800% | 1h | 0.000004901 | +0.012% | $537K | $146K | 25x | as long as short |
| Binance 1000PEPEUSDT | +0.0801% | 8h | 0.000004902 | +0.026% | $132.6M | $980.1M | 75x | as long as short |
| MEXC PEPE_USDT | +0.0805% | 8h | 0.000004899 | −0.039% | $118.5M | $272.3M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0808% | 1h | 0.000004900 | −0.010% | $139K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0878% | 8h | 0.000004902 | +0.027% | $1.5M | $6.7M | 50x | as long as short |
| Lighter 1000PEPE | +0.0920% | 1h | 0.000004904 | +0.071% | $599K | $5.0M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0924% | 1h | 0.000004902 | +0.032% | $3.9M | $12.3M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0975% | 1h | 0.000004903 | +0.051% | $79K | $91K | 25x | as long as short |
| Injective PEPE/USDC PERP | +0.1046% | 1h | 0.000004936 | +0.724% | $5K | $81K | 12x | as long as short |
HTX PEPE-USDT
Bitget PEPEUSDT
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
BloFin PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Orderly PERP_1000PEPE_USDC
Hyperliquid kPEPE
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
Nado kPEPE-PERP
BingX 1000PEPE-USDC
Extended 1000PEPE-USD
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
Deribit 1000PEPE_USDC-PERPETUAL
Injective PEPE/USDC PERP