PEPE

Alert

Funding spread now, next payment 15:00 UTC+0.0656%/8h

next payment, per $10,000+$0.82paid, last 24h+0.048%paid, last 5 days+0.133%to open and closeno order book

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.133% in total (about 10.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.82 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	Deribit 1000PEPE_USDC-PERPETUAL	0.000004433	0	get 0.0000% / 1h	31m 04s	$37K	$63K	25x
Short	Lighter 1000PEPE	0.000004440	0.0656	get 0.0082% / 1h	31m 04s	$883K	$2.7M	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee DeribitbpFee LighterbpOrdersRate

Funding earned: $137.76
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $130.76
Break-even: 0.4 days

Slippage unknown: Deribit: no order-book sample; Lighter: live order book, 3 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.158%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Deribit no order-book sample	—	—	—	—	—
Sell Lighter live order book, 3 min ago	4.53 bp	8.4 bp −$8	18.9 bp −$189	54.2 bp −$5,419	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PEPE on 34 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PEPE/USDC PERP	−0.0104%	1h	$16K	$39K	12x	as long as short
Phemex u1000PEPEUSDT	−0.0030%	8h	$2.2M	$5.2M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	$16K	$908	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUALlong	0.0000%	1h	$37K	$63K	25x
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0002%	1h	$4K	—	150x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0062%	8h	$27K	$3K	20x	as long as short
Aevo 1000PEPE-PERP	+0.0096%	1h	$125K	—	3x	as long as short
Paradex kPEPE-USD-PERP	+0.0098%	8h	$5K	$52	20x	as long as short
Nado kPEPE-PERP	+0.0100%	1h	$228K	$400K	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	$53K	$35K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Binance 1000PEPEUSDT	+0.0100%	8h	$99.6M	$456.9M	75x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	$74.5M	$113.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	$32.3M	$215.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	$113.5M	$26.0M	75x	as long as short
MEXC PEPE_USDT	+0.0100%	8h	$111.5M	$207.0M	300x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	$20.0M	$24.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	$42.1M	$62.1M	75x	as long as short
BingX 1000PEPE-USDT	+0.0100%	8h	—	$160.5M	—	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	$536K	$1.6M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	$26K	$326K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	$104K	$712K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	$2K	$1.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	$2K	$7K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	$484K	$2.2M	75x	as long as short
Extended 1000PEPE-USD	+0.0104%	1h	$469K	$207K	25x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	$7K	—	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0200%	1h	$605K	$6.7M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0204%	1h	$121K	$189K	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	$3.0M	$11.7M	75x	as long as short
Aster 1000PEPEUSDT	+0.0356%	8h	$1.4M	$2.8M	50x	as long as short
Hyperliquid kPEPE	+0.0371%	1h	$50.5M	$34.9M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0405% / S −0.0617%	1h	$54K	—	100x	as long as short
Kraken Futures PF_PEPEUSD	+0.0525%	1h	$2.8M	$8.3M	50x	as long as short
Lighter 1000PEPEshort	+0.0656%	1h	$883K	$2.7M	10x