Funding you earn now, next payment 03:00 UTC+0.1127%/8h= +123.4% APRpaid last 24h +0.072%
Price spread now: Hyperliquid against BloFin+0.380%87s7-day average +0.108% · you sell dearer than you buy
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$450.450% of the position
Funding, last 7 days+0.229%+$23 on $10k
+Price spread, last 4 days (all we have)−0.406%−$41 · spread now +0.380%, 7d avg +0.108%
=Together, before fees−0.177%+ Points / potential airdropHyperliquid: Season 2 · farm board−$18 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Hyperliquid is 0.272% dearer against BloFin than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.108%. The two prices were read 87 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.229% in total (about 11.9% 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 | BloFin PEPE-USDT | 0.000005002 | 0.0462 | pay 0.0462% / 8h | 5h 11m | $4.3M | $25.0M | 75x |
| Short | Hyperliquid kPEPE | 0.000005021 | 0.1588 | get 0.0199% / 1h | 11m 46s | $53.7M | $139.6M | 10x |
BloFin PEPE-USDT
Hyperliquid kPEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against BloFin. 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
- $236.62
- Price spread: +0.380% → +0.108%
- $27.21
- Slippage, 4 orders
- −$24.03
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $218.79
- Costs to cover
- 0.450%
- Break-even
- 0.5 days
Slippage from BloFin: live order book, 2 min ago; Hyperliquid: live order book, 12 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 BloFin live order book, 2 min ago | 1.99 bp | 9.5 bp −$9 | 12.1 bp −$121 | 34.0 bp −$3,404 | 80.4 bp −$40.2K |
| Sell Hyperliquid live order book, 12 min ago | 2.98 bp | 17.5 bp −$18 | 27.2 bp −$272 | 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 | 0.000005009 | +0.150% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005000 | −0.044% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005008 | +0.120% | $63K | $139K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005010 | +0.162% | $97.2M | $340.8M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005008 | +0.120% | $164.4M | $75.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005010 | +0.154% | $25.8M | $63.3M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005042 | +0.790% | $687K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005013 | +0.213% | $27K | $445K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005015 | +0.252% | $1K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005007 | +0.094% | $569K | $3.6M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PEPEUSDT | +0.0127% | 8h | 0.000005013 | +0.222% | $45.9M | $173.2M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005006 | +0.087% | $8K | — | 15x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0315% | 8h | 0.000005009 | +0.142% | $33K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0340% | 8h | 0.000005015 | +0.260% | $45.6M | $586.8M | 50x | as long as short |
| BloFin PEPE-USDTlong | +0.0462% | 8h | 0.000005002 | long leg | $4.3M | $25.0M | 75x | |
| SoDEX 1000PEPE-USD | +0.0523% | 1h | 0.000005007 | +0.100% | $2K | $12K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0550% | 1h | 0.000005007 | +0.100% | $71K | $124K | 25x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0576% | 1h | 0.000005014 | +0.240% | $940K | $31.4M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0576% | 1h | 0.000005011 | +0.180% | $99K | $755K | 25x | as long as short |
| BingX 1000PEPE-USDT | +0.0608% | 8h | 0.000005013 | +0.218% | — | $261.3M | — | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0629% / S −0.1007% | 1h | 0.000005000 | −0.040% | $49K | — | 100x | as long as short |
| Binance 1000PEPEUSDT | +0.0636% | 8h | 0.000005027 | +0.504% | $140.7M | $1.21B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0638% | 8h | 0.000005015 | +0.270% | $94.2M | $290.4M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0640% | 1h | 0.000005016 | +0.276% | $530K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0640% | 1h | 0.000005003 | +0.020% | $141K | — | 3x | as long as short |
| Phemex u1000PEPEUSDT | +0.0727% | 8h | 0.000005006 | +0.082% | $2.4M | $7.1M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0728% | 8h | 0.000005011 | +0.172% | $1.8M | $9.2M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0783% | 8h | 0.000005009 | +0.136% | $6K | — | 20x | as long as short |
| Nado kPEPE-PERP | +0.0802% | 1h | 0.000005006 | +0.089% | $185K | $872K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0958% | 1h | 0.000005009 | +0.140% | $92K | $632K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0960% | 1h | 0.000005017 | +0.300% | $605 | $3K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0973% | 1h | 0.000005011 | +0.180% | $4K | $102K | 12x | as long as short |
| Lighter 1000PEPE | +0.1176% | 1h | 0.000005025 | +0.460% | $665K | $8.1M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1390% | 1h | 0.000005005 | +0.063% | $4.3M | $15.2M | 50x | as long as short |
| Hyperliquid kPEPEshort | +0.1588% | 1h | 0.000005021 | +0.380% | $53.7M | $139.6M | 10x |
Bitget PEPEUSDT
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
SoDEX 1000PEPE-USD
Deribit 1000PEPE_USDC-PERPETUAL
Coinbase International 1000PEPE-PERP-INTX
ApeX Omni 1000PEPEUSDT
BingX 1000PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Phemex u1000PEPEUSDT
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD