Funding you earn now, next payment 11:00 UTC−0.0310%/8h= −33.9% APRpaid last 24h +0.017%
Price spread now: Deribit against BingX+0.020%7-day average — · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$420.417% of the position
Funding, last 7 days−0.077%−$8 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Deribit is 0.020% dearer against BingX than usual: you sell high and buy low (spread +0.020% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.077% in total) that is about 44 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.077% in total (about -4.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX 1000PEPE-USDC | 0.000004937 | 0.0310 | pay 0.0310% / 8h | 5h 52m | — | $2.3M | — |
| Short | Deribit 1000PEPE_USDC-PERPETUAL | 0.000004938 | 0 | get 0.0000% / 1h | 52m 07s | $57K | $115K | 25x |
BingX 1000PEPE-USDC
Deribit 1000PEPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against BingX. 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
- −$65.1
- Price spread: +0.020% → 0.000%
- $2.03
- Slippage, 4 orders
- −$24.67
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$104.74
- Costs to cover
- 0.417%
- Break-even
- never at this rate
Slippage from BingX: live order book, 9 min ago; Deribit: live order book, 59 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 BingX live order book, 9 min ago | 0.50 bp | 13.4 bp −$13 | 19.4 bp −$194 | 83.9 bp −$8,394 | 262.1 bp −$131.1K |
| Sell Deribit live order book, 59 min ago | 5.02 bp | 8.5 bp −$9 | 16.7 bp −$167 | doesn't fit | doesn't fit |
PEPE on 35 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PEPEUSD | −0.0371% | 1h | 0.000004939 | +0.036% | $4.6M | $15.8M | 50x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004940 | +0.068% | $25K | $18K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALshort | 0.0000% | 1h | 0.000004938 | +0.020% | $57K | $115K | 25x | |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000004943 | +0.128% | $3K | — | 150x | as long as short |
| 01 Exchange kPEPEUSD | +0.0064% | 1h | 0.000004941 | +0.081% | $596 | $2K | 10x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004941 | +0.081% | $595K | $9.0M | 10x | as long as short |
| Nado kPEPE-PERP | +0.0100% | 1h | 0.000004941 | +0.081% | $146K | $943K | 10x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004942 | +0.101% | $49.9M | $154.9M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004944 | +0.142% | $57K | $195K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004938 | +0.028% | $94.1M | $441.9M | 50x | as long as short |
Kraken Futures PF_PEPEUSD
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
01 Exchange kPEPEUSD
Lighter 1000PEPE
Nado kPEPE-PERP
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDTShow all 35 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004937 | 0.000% | $151.8M | $102.0M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004940 | +0.061% | $24.9M | $75.9M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000004943 | +0.126% | $43.5M | $230.9M | 75x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0100% | 1h | 0.000004941 | +0.089% | $75K | $990K | 15x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004937 | +0.005% | $643K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004955 | +0.373% | $27K | $569K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000004937 | 0.000% | $143K | $850K | 25x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004948 | +0.219% | $2K | $2.5M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004941 | +0.081% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004939 | +0.043% | $580K | $4.2M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0100% | 8h | 0.000004933 | −0.073% | $2.3M | $8.0M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0110% | 8h | 0.000004944 | +0.139% | $6K | — | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0135% | 8h | 0.000004938 | +0.020% | $44.3M | $719.7M | 50x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004937 | −0.001% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0259% | 8h | 0.000004948 | +0.223% | $4.3M | $28.7M | 75x | as long as short |
| Binance 1000PEPEUSDT | +0.0276% | 8h | 0.000004945 | +0.169% | $128.2M | $1.53B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0280% | 1h | 0.000004937 | −0.003% | $518K | $285K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0282% | 8h | 0.000004949 | +0.235% | $102.1M | $295.1M | 300x | as long as short |
| Injective PEPE/USDC PERP | +0.0284% | 1h | 0.000004940 | +0.061% | $4K | $122K | 12x | as long as short |
| Aster 1000PEPEUSDT | +0.0286% | 8h | 0.000004942 | +0.101% | $1.7M | $12.5M | 50x | as long as short |
| Aevo 1000PEPE-PERP | +0.0288% | 1h | 0.000004939 | +0.041% | $140K | — | 3x | as long as short |
| BingX 1000PEPE-USDClong | +0.0310% | 8h | 0.000004937 | long leg | — | $2.3M | — | |
| Orderly PERP_1000PEPE_USDC | +0.0345% | 8h | 0.000004938 | +0.028% | $32K | $30K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0400% | 1h | 0.000004942 | +0.101% | $739K | $38.8M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0839% / S −0.0953% | 1h | 0.000004000 | −18.979% | $50K | — | 100x | as long as short |
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Backpack kPEPE_USDC_PERP
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
ApeX Omni 1000PEPEUSDT
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Phemex u1000PEPEUSDT
Paradex kPEPE-USD-PERP
OKX PEPE-USDT-SWAP
Reya kPEPERUSDPERP
BloFin PEPE-USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Injective PEPE/USDC PERP
Aster 1000PEPEUSDT
Aevo 1000PEPE-PERP
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
GMX PEPE/USD [ETH-USDC]