Funding you earn now, next payment 08:00 UTC+0.0299%/8h= +32.7% APRpaid last 24h +0.084%
Price spread now: Coinbase International against Bitget−0.273%7-day average −0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$67as in the Price arb table
costs, in and out, $10k−$420.419% of the position
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)+0.343%+$34 · spread now −0.273%, 7d avg −0.024%
=Funding pays, the price is against you. Coinbase International is 0.248% cheaper against Bitget than usual: you would sell low and buy high (spread −0.273% now, against its 7-day average of −0.024%). If the spread goes back, that is −$25 on $10k: about 2.8 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.050% in total) that is about 35 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% 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 | Bitget PEPEUSDT | 0.000005099 | 0.0205 | pay 0.0205% / 8h | 7h 37m | $45.8M | $222.5M | 75x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000005085 | 0.0504 | get 0.0063% / 1h | 37m 33s | $675K | $39.5M | 50x |
Bitget PEPEUSDT
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Bitget. 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
- $62.79
- Price spread: −0.273% → −0.024%
- −$24.81
- Slippage, 4 orders
- −$19.93
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$3.95
- Costs to cover
- 0.419%
- Break-even
- 7.4 days
Slippage from Bitget: live order book, 2 min ago; Coinbase International: 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 Bitget live order book, 2 min ago | 1.67 bp | 8.9 bp −$9 | 9.8 bp −$98 | 31.0 bp −$3,098 | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 2.95 bp | 10.5 bp −$11 | 15.9 bp −$159 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005089 | −0.186% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005107 | +0.159% | $59K | $186K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005101 | +0.041% | $98.4M | $436.6M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005101 | +0.041% | $161.9M | $99.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005099 | −0.005% | $638K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005089 | −0.201% | $28K | $550K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005105 | +0.118% | $2K | $2.7M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005080 | −0.371% | $598K | $4.2M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0132% | 1h | 0.000005101 | +0.041% | $2K | $11K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0147% | 1h | 0.000005084 | −0.292% | $7K | $121K | 12x | as long as short |
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDT
SoDEX 1000PEPE-USD
Injective PEPE/USDC PERPShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin PEPEUSDTM | +0.0163% | 8h | 0.000005106 | +0.135% | $26.7M | $74.8M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005102 | +0.055% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDTlong | +0.0205% | 8h | 0.000005099 | long leg | $45.8M | $222.5M | 75x | |
| OKX PEPE-USDT-SWAP | +0.0330% | 8h | 0.000005101 | +0.041% | $46.6M | $747.6M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0381% | 1h | 0.000005107 | +0.159% | $149K | $838K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0403% | 1h | 0.000005112 | +0.251% | $98K | $907K | 15x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0412% | 8h | 0.000005107 | +0.157% | $6K | — | 20x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0435% | 8h | 0.000005097 | −0.029% | $33K | $27K | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0453% | 8h | 0.000005102 | +0.057% | $2.3M | $8.1M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0456% | 8h | 0.000005088 | −0.214% | $4.4M | $30.3M | 75x | as long as short |
| Hyperliquid kPEPE | +0.0490% | 1h | 0.000005112 | +0.257% | $53.0M | $160.3M | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0504% | 1h | 0.000005085 | −0.273% | $675K | $39.5M | 50x | |
| 01 Exchange kPEPEUSD | +0.0528% | 1h | 0.000005104 | +0.100% | $616 | $2K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0535% | 1h | 0.000005098 | −0.018% | $73K | $128K | 25x | as long as short |
| Lighter 1000PEPE | +0.0544% | 1h | 0.000005109 | +0.198% | $611K | $9.0M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0622% | 1h | 0.000005098 | −0.025% | $4.8M | $16.7M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0639% | 8h | 0.000005101 | +0.033% | — | $176.3M | — | as long as short |
| Extended 1000PEPE-USD | +0.0656% | 1h | 0.000005101 | +0.051% | $537K | $280K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0657% | 8h | 0.000005105 | +0.120% | $100.7M | $307.3M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0657% | 8h | 0.000005109 | +0.191% | $140.8M | $1.51B | 75x | as long as short |
| Aevo 1000PEPE-PERP | +0.0664% | 1h | 0.000005097 | −0.037% | $144K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0674% | 8h | 0.000005105 | +0.117% | $1.7M | $12.0M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0679% | 1h | 0.000005102 | +0.071% | $162K | $965K | 10x | as long as short |
| dYdX PEPE-USD | +0.0967% | 1h | 0.000005100 | +0.014% | $19K | $649 | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1019% / S −0.1149% | 1h | 0.000005000 | −1.940% | $51K | — | 100x | as long as short |
KuCoin PEPEUSDTM
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
ApeX Omni 1000PEPEUSDT
Backpack kPEPE_USDC_PERP
Paradex kPEPE-USD-PERP
Orderly PERP_1000PEPE_USDC
Phemex u1000PEPEUSDT
BloFin PEPE-USDT
Hyperliquid kPEPE
01 Exchange kPEPEUSD
Deribit 1000PEPE_USDC-PERPETUAL
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Nado kPEPE-PERP
dYdX PEPE-USD
GMX PEPE/USD [ETH-USDC]