Funding you earn now, next payment 23:00 UTC+0.0200%/8h= +21.9% APRnext payment +$0.25 per $10,000 · paid last 24h −0.044%
Price spread now: Nado against Backpack+0.053%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$410.415% of the position
Funding, last 3 days (all we have)−0.050%−$5 on $10k
+Price spread, last 3 days (all we have)+0.026%+$3 · spread now +0.053%, 7d avg +0.006%
=Together, before fees−0.024%+ Points / potential airdropNado: Active · farm board−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Nado is 0.047% dearer against Backpack than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.006%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.050% in total (about -5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 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 | 0.000004801 | 0.0558 | pay 0.0070% / 1h | 15m 48s | $93K | $614K | 15x |
| Short | Nado kPEPE-PERP | 0.000004803 | 0.0757 | get 0.0095% / 1h | 15m 48s | $185K | $845K | 10x |
Backpack kPEPE_USDC_PERP
Nado kPEPE-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Nado 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
- $41.98
- Price spread: +0.053% → +0.006%
- $4.71
- Slippage, 4 orders
- −$24.48
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Net
- $5.21
- Costs to cover
- 0.415%
- Break-even
- 6.1 days
Slippage from Backpack: live order book, 3 min ago; Nado: live order book, 2 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, 3 min ago | 3.23 bp | 11.8 bp −$12 | 30.4 bp −$304 | doesn't fit | doesn't fit |
| Sell Nado live order book, 2 min ago | 3.13 bp | 12.6 bp −$13 | 33.4 bp −$334 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004786 | −0.307% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004798 | −0.058% | $14K | — | 150x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004798 | −0.060% | $662K | $5.9M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004797 | −0.081% | $61.9M | $81.9M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004789 | −0.248% | $59K | $114K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004799 | −0.040% | $86.6M | $282.1M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004793 | −0.165% | $149.9M | $63.2M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004800 | −0.029% | $24.7M | $54.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004812 | +0.229% | $543K | $4.0M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004816 | +0.308% | $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 | 0.000004805 | +0.090% | $1K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004800 | −0.019% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004781 | −0.415% | $540K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0122% | 8h | 0.000004800 | −0.029% | $42.2M | $148.7M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004799 | −0.047% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0217% | 8h | 0.000004801 | +0.002% | $41.5M | $491.2M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0291% | 8h | 0.000004786 | −0.301% | $5K | $16 | 20x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0321% / S −0.0342% | 1h | 0.000004000 | −16.682% | $43K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0328% | 8h | 0.000004783 | −0.373% | $3.9M | $22.1M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0349% | 8h | 0.000004799 | −0.031% | $2.3M | $6.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0408% | 1h | 0.000004804 | +0.065% | $550 | $2K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0448% | 1h | 0.000004802 | +0.023% | $582K | $25.5M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0451% | 8h | 0.000004803 | +0.035% | $29K | $11K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0542% | 1h | 0.000004816 | +0.315% | $102K | $764K | 25x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.0558% | 1h | 0.000004801 | long leg | $93K | $614K | 15x | |
| BingX 1000PEPE-USDT | +0.0749% | 8h | 0.000004801 | +0.002% | — | $256.4M | — | as long as short |
| Nado kPEPE-PERPshort | +0.0757% | 1h | 0.000004803 | +0.053% | $185K | $845K | 10x | |
| Binance 1000PEPEUSDT | +0.0766% | 8h | 0.000004799 | −0.045% | $130.3M | $1.04B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0768% | 1h | 0.000004798 | −0.070% | $526K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0768% | 1h | 0.000004802 | +0.023% | $136K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0770% | 8h | 0.000004800 | −0.015% | $91.0M | $285.5M | 300x | as long as short |
| Aster 1000PEPEUSDT | +0.0780% | 8h | 0.000004799 | −0.044% | $1.5M | $7.1M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0873% | 1h | 0.000004798 | −0.060% | $4K | $103K | 12x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.1001% | 1h | 0.000004803 | +0.044% | $81K | $94K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1329% | 1h | 0.000004799 | −0.041% | $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
Paradex kPEPE-USD-PERP
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
Coinbase International 1000PEPE-PERP-INTX
Orderly PERP_1000PEPE_USDC
ApeX Omni 1000PEPEUSDT
BingX 1000PEPE-USDT
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