Funding you earn now, next payment 07:00 UTC−0.0046%/8h= −5.1% APRnext payment −$0.06 per $10,000 · paid last 24h 0.000%
Price spread now: Lighter against Backpack−0.326%7-day average +0.063% · you buy dearer than you sell
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$270.272% of the position
Funding, last 7 days−0.058%−$6 on $10k
+Price spread, last 4 days (all we have)+0.300%+$30 · spread now −0.326%, 7d avg +0.063%
=Together, before fees+0.242%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.389% cheaper against Backpack than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of +0.063%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack kPEPE_USDC_PERP | 0.000005187 | 0.0782 | pay 0.0098% / 1h | 56m 17s | $72K | $848K | 15x |
| Short | Lighter 1000PEPE | 0.000005170 | 0.0736 | get 0.0092% / 1h | 56m 17s | $622K | $9.0M | 10x |
Backpack kPEPE_USDC_PERP
Lighter 1000PEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$9.74
- Price spread: −0.326% → +0.063%
- −$38.93
- Slippage, 4 orders
- −$17.24
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$75.9
- Costs to cover
- 0.272%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 53 min ago; Lighter: 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, 53 min ago | 0.10 bp | 6.2 bp −$6 | 25.3 bp −$253 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 1.95 bp | 7.4 bp −$7 | 20.0 bp −$200 | 53.3 bp −$5,335 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PEPE/USDC PERP | −0.0016% | 1h | 0.000005206 | +0.368% | $10K | $119K | 12x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005156 | −0.595% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005158 | −0.548% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005166 | −0.403% | $60K | $180K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005162 | −0.488% | $101.5M | $413.1M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005159 | −0.538% | $163.2M | $95.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005159 | −0.534% | $25.9M | $71.7M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005159 | −0.547% | $617K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005173 | −0.269% | $28K | $539K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005172 | −0.280% | $2K | $2.6M | 20x | as long as short |
Injective PEPE/USDC PERP
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005158 | −0.557% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005175 | −0.229% | $590K | $4.2M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005165 | −0.427% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0310% | 8h | 0.000005158 | −0.565% | $46.2M | $213.7M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0332% | 1h | 0.000005160 | −0.519% | $74K | $127K | 25x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0379% | 8h | 0.000005159 | −0.544% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0417% | 8h | 0.000005162 | −0.480% | $48.4M | $721.4M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0453% | 1h | 0.000005156 | −0.597% | $4.7M | $16.8M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0518% | 8h | 0.000005167 | −0.391% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0545% | 8h | 0.000005186 | −0.017% | $4.4M | $29.6M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0576% | 8h | 0.000005155 | −0.615% | $2.4M | $8.0M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0624% | 1h | 0.000005169 | −0.345% | $702K | $38.3M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0672% | 1h | 0.000005162 | −0.480% | $623 | $3K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0672% | 1h | 0.000005154 | −0.634% | $156K | $818K | 25x | as long as short |
| Lighter 1000PEPEshort | +0.0736% | 1h | 0.000005170 | −0.326% | $622K | $9.0M | 10x | |
| Nado kPEPE-PERP | +0.0738% | 1h | 0.000005162 | −0.482% | $165K | $955K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0757% | 8h | 0.000005164 | −0.434% | — | $2.3M | — | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0782% | 1h | 0.000005187 | long leg | $72K | $848K | 15x | |
| Aevo 1000PEPE-PERP | +0.0784% | 1h | 0.000005166 | −0.403% | $146K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0788% | 8h | 0.000005157 | −0.573% | $98.5M | $301.8M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0789% | 8h | 0.000005165 | −0.430% | $143.0M | $1.44B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0792% | 1h | 0.000005161 | −0.503% | $547K | $285K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0812% | 8h | 0.000005164 | −0.443% | $1.8M | $11.6M | 50x | as long as short |
| Hyperliquid kPEPE | +0.0898% | 1h | 0.000005168 | −0.364% | $55.2M | $154.4M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1133% / S −0.2351% | 1h | 0.000005000 | −3.603% | $63K | — | 100x | as long as short |
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Kraken Futures PF_PEPEUSD
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
BingX 1000PEPE-USDC
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aster 1000PEPEUSDT
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]