PEPE

Alert

Funding spread now, next payment 17:00 UTC−0.1271%/8h

next payment, per $10,000−$1.59paid, last 24h+0.037%paid, last 5 days+0.082%to open and close $10k−$57

Long on Kraken Futures Short on Backpack

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.082% in total (about 5.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.59 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	Kraken Futures PF_PEPEUSD	0.000004941	0.2381	pay 0.0298% / 1h	1m 32s	$3.5M	$10.0M	50x
Short	Backpack kPEPE_USDC_PERP	0.000004940	0.1111	get 0.0139% / 1h	1m 32s	$95K	$496K	15x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee BackpackbpOrdersRate

Funding earned: −$266.82
Slippage, 4 orders: −$36.59
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$323.41
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Backpack: live order book, 44 min ago.

Price risk

price view

Price gap now: −0.024%
Avg gap 7d: +0.011%

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 Kraken Futures live order book, 4 min ago	11.12 bp	21.5 bp −$22	32.6 bp −$326	83.6 bp −$8,360	doesn't fit
Sell Backpack live order book, 44 min ago	1.42 bp	6.7 bp −$7	24.3 bp −$243	doesn't fit	doesn't fit

PEPE on 35 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
dYdX PEPE-USD	0.0000%	1h	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	$17K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	$61K	$82K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	$88.9M	$223.1M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	$42.8M	$436.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	$141.7M	$51.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	$21.1M	$37.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	$46.4M	$114.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	$829K	$2.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	$28K	$351K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	$1K	$2.3M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	$581K	$3.7M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0111%	8h	$31K	$8K	20x	as long as short
Injective PEPE/USDC PERP	+0.0123%	1h	$40K	$59K	12x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	$4.0M	$18.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0296% / S −0.0244%	1h	$48K	—	100x	as long as short
Nado kPEPE-PERP	+0.0343%	1h	$226K	$732K	10x	as long as short
BingX 1000PEPE-USDT	+0.0406%	8h	—	$234.5M	—	as long as short
Aevo 1000PEPE-PERP	+0.0416%	1h	$140K	—	3x	as long as short
Extended 1000PEPE-USD	+0.0432%	1h	$538K	$253K	25x	as long as short
MEXC PEPE_USDT	+0.0432%	8h	$115.3M	$265.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0436%	8h	$128.4M	$838.0M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0440%	1h	$638K	$21.9M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0496%	8h	$2.5M	$5.9M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0506%	8h	$6K	$52	20x	as long as short
SoDEX 1000PEPE-USD	+0.0554%	1h	$1K	$8K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0654%	1h	$92K	$752K	25x	as long as short
Hyperliquid kPEPE	+0.0731%	1h	$56.7M	$52.9M	10x	as long as short
Aster 1000PEPEUSDT	+0.0853%	8h	$1.4M	$5.3M	50x	as long as short
01 Exchange kPEPEUSD	+0.0880%	1h	$566	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0966%	1h	$84K	$96K	25x	as long as short
Lighter 1000PEPE	+0.1080%	1h	$629K	$4.7M	10x	as long as short
Backpack kPEPE_USDC_PERPshort	+0.1111%	1h	$95K	$496K	15x
Kraken Futures PF_PEPEUSDlong	+0.2381%	1h	$3.5M	$10.0M	50x