PEPE

Alert

Funding spread now, next payment 18:00 UTC+0.2460%/8h

next payment, per $10,000+$3.07paid, last 24h+0.016%paid, last 4 days+0.098%to open and closeno order book

Long on Injective Short on Kraken Futures

The current rate is far above what this pair has been paying: over the last 4 days it paid 0.098% in total (about 9.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.07 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	Injective PEPE/USDC PERP	0.000004954	−0.0669	get 0.0084% / 1h	48m 56s	$40K	$47K	12x
Short	Kraken Futures PF_PEPEUSD	0.000004974	0.1791	get 0.0224% / 1h	48m 56s	$3.5M	$9.6M	50x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee InjectivebpFee Kraken FuturesbpOrdersRate

Funding earned: $516.54
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $506.52
Break-even: 0.1 days

Slippage unknown: Injective: no order-book sample; Kraken Futures: live order book, 1 min ago. Net counts fees only.

Price risk

price view

Price gap now: +0.395%
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 Injective no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 1 min ago	3.62 bp	11.7 bp −$12	15.9 bp −$159	87.9 bp −$8,793	doesn't fit

Injective: 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 35 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PEPE/USDC PERPlong	−0.0669%	1h	$40K	$47K	12x
dYdX PEPE-USD	0.0000%	1h	$18K	$95	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	0.0000%	1h	$84K	$96K	25x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	$17K	—	150x	as long as short
Nado kPEPE-PERP	+0.0100%	1h	$225K	$743K	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	$64K	$81K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	$88.8M	$224.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	$42.9M	$440.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	$143.2M	$51.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	$21.5M	$37.6M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0100%	8h	$46.9M	$115.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	$818K	$2.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	$27K	$336K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	$2K	$2.3M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	$588K	$3.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0127%	8h	$31K	$8K	20x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	$8K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	$4.1M	$19.1M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0296% / S −0.0245%	1h	$47K	—	100x	as long as short
SoDEX 1000PEPE-USD	+0.0364%	1h	$2K	$8K	10x	as long as short
BingX 1000PEPE-USDC	+0.0431%	8h	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0472%	1h	$541K	$249K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	$141K	—	3x	as long as short
MEXC PEPE_USDT	+0.0474%	8h	$109.8M	$252.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0474%	8h	$129.1M	$842.4M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0495%	8h	$6K	$52	20x	as long as short
Phemex u1000PEPEUSDT	+0.0500%	8h	$2.5M	$6.0M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0528%	1h	$639K	$22.2M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0610%	1h	$92K	$753K	25x	as long as short
Hyperliquid kPEPE	+0.0674%	1h	$57.0M	$52.8M	10x	as long as short
01 Exchange kPEPEUSD	+0.0704%	1h	$570	$2K	10x	as long as short
Aster 1000PEPEUSDT	+0.0857%	8h	$1.4M	$5.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0907%	1h	$91K	$503K	15x	as long as short
Lighter 1000PEPE	+0.0968%	1h	$631K	$4.5M	10x	as long as short
Kraken Futures PF_PEPEUSDshort	+0.1791%	1h	$3.5M	$9.6M	50x