Funding you earn now, next payment 02:00 UTC+0.0476%/8h= +52.1% APRpaid last 24h +0.053%
Price spread now: Coinbase International against Gate−0.545%7-day average +0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$115as in the Price arb table
costs, in and out, $10k−$570.567% of the position
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 3 days (all we have)+0.554%+$55 · spread now −0.545%, 7d avg +0.040%
=Funding pays, the price is against you. Coinbase International is 0.585% cheaper against Gate than usual: you would sell low and buy high (spread −0.545% now, against its 7-day average of +0.040%). If the spread goes back, that is −$58 on $10k: about 4.1 days of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.041% in total) that is about 3 months.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.041% in total (about 2.1% 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 | Gate PEPE_USDT | 0.000005136 | 0.0100 | pay 0.0100% / 8h | 5h 56m | $164.6M | $72.1M | 75x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000005108 | 0.0576 | get 0.0072% / 1h | 56m 36s | $926K | $30.8M | 50x |
Gate PEPE_USDT
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Gate. 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
- $99.96
- Price spread: −0.545% → +0.040%
- −$58.47
- Slippage, 4 orders
- −$31.7
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$15.22
- Costs to cover
- 0.567%
- Break-even
- 8.1 days
Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 3 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 Gate live order book, 2 min ago | 0.98 bp | 15.1 bp −$15 | 27.9 bp −$279 | 93.7 bp −$9,375 | doesn't fit |
| Sell Coinbase International live order book, 3 min ago | 4.89 bp | 15.5 bp −$15 | 20.3 bp −$203 | doesn't fit | doesn't fit |
PEPE on 34 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 | 0.000005132 | −0.085% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005097 | −0.752% | $18K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005140 | +0.078% | $63K | $128K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005143 | +0.136% | $100.4M | $328.2M | 50x | as long as short |
| Gate PEPE_USDTlong | +0.0100% | 8h | 0.000005136 | long leg | $164.6M | $72.1M | 75x | |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005143 | +0.144% | $25.7M | $61.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005151 | +0.298% | $48.2M | $167.7M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005100 | −0.709% | $681K | $4.5M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005107 | −0.568% | $27K | $424K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005109 | −0.516% | $2K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005108 | −0.545% | $582K | $3.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005104 | −0.625% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0280% | 8h | 0.000005149 | +0.253% | $46.5M | $587.1M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0298% | 8h | 0.000005106 | −0.576% | $33K | $24K | 20x | as long as short |
| BingX 1000PEPE-USDC | +0.0530% | 8h | 0.000005138 | +0.045% | — | $2.3M | — | as long as short |
| Phemex u1000PEPEUSDT | +0.0535% | 8h | 0.000005105 | −0.602% | $2.4M | $7.0M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0541% / S −0.0937% | 1h | 0.000005000 | −2.648% | $48K | — | 100x | as long as short |
| Aevo 1000PEPE-PERP | +0.0560% | 1h | 0.000005103 | −0.643% | $144K | — | 3x | as long as short |
| Extended 1000PEPE-USD | +0.0568% | 1h | 0.000005149 | +0.250% | $565K | $199K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0568% | 8h | 0.000005151 | +0.298% | $97.9M | $285.5M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0572% | 8h | 0.000005143 | +0.127% | $145.6M | $1.18B | 75x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0576% | 1h | 0.000005108 | −0.545% | $926K | $30.8M | 50x | |
| ApeX Omni 1000PEPEUSDT | +0.0647% | 1h | 0.000005110 | −0.506% | $106K | $749K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0671% | 8h | 0.000005127 | −0.171% | $1.7M | $8.3M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0707% | 8h | 0.000005148 | +0.231% | $6K | — | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0834% | 1h | 0.000005103 | −0.643% | $2K | $12K | 10x | as long as short |
| Nado kPEPE-PERP | +0.0857% | 1h | 0.000005104 | −0.627% | $194K | $858K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0898% | 1h | 0.000005112 | −0.461% | $100K | $610K | 15x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0927% | 1h | 0.000005103 | −0.643% | $62K | $114K | 25x | as long as short |
| Injective PEPE/USDC PERP | +0.0973% | 1h | 0.000005105 | −0.604% | $4K | $102K | 12x | as long as short |
| 01 Exchange kPEPEUSD | +0.1160% | 1h | 0.000005168 | +0.623% | $623 | $3K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1364% | 1h | 0.000005103 | −0.650% | $4.1M | $14.6M | 50x | as long as short |
| Lighter 1000PEPE | +0.1992% | 1h | 0.000005148 | +0.234% | $1.1M | $7.4M | 10x | as long as short |
| Hyperliquid kPEPE | +0.2044% | 1h | 0.000005141 | +0.097% | $56.8M | $136.7M | 10x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
BingX 1000PEPE-USDC
Phemex u1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Aevo 1000PEPE-PERP
Extended 1000PEPE-USD
MEXC PEPE_USDT
Binance 1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
SoDEX 1000PEPE-USD
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
Deribit 1000PEPE_USDC-PERPETUAL
Injective PEPE/USDC PERP
01 Exchange kPEPEUSD
Kraken Futures PF_PEPEUSD
Lighter 1000PEPE
Hyperliquid kPEPE