Funding you earn now, next payment 07:00 UTC−0.0475%/8h= −52.0% APRnext payment −$0.59 per $10,000 · paid last 24h −0.106%
Price spread now: Injective against Kraken Futures+0.274%7-day average +0.638% · you sell dearer than you buy
Net, funding: paid 7d − costs−$86as in the Funding arb table
Net, price: spread back to 7d avg − costs−$141as in the Price arb table
costs, in and out, $10k−$1051.049% of the position
Funding, last 7 days+0.194%+$19 on $10k
+Price spread, last 4 days (all we have)−0.280%−$28 · spread now +0.274%, 7d avg +0.638%
=Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Injective is 0.364% cheaper against Kraken Futures than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of +0.638%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.194%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.194% in total (about 10.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.59 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 | 0.000005094 | 0.0458 | pay 0.0057% / 1h | 16m 36s | $4.6M | $16.5M | 50x |
| Short | Injective PEPE/USDC PERP | 0.000005108 | −0.0016 | pay 0.0002% / 1h | 16m 36s | $9K | $120K | 12x |
Kraken Futures PF_PEPEUSD
Injective PEPE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Kraken Futures. 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
- −$99.66
- Price spread: +0.274% → +0.638%
- −$36.37
- Slippage, 4 orders
- −$94.86
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$240.91
- Costs to cover
- 1.049%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Injective: live order book, 27 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 Kraken Futures live order book, 2 min ago | 5.20 bp | 14.1 bp −$14 | 20.9 bp −$209 | 66.0 bp −$6,604 | doesn't fit |
| Sell Injective live order book, 27 min ago | 29.05 bp | 29.1 bp −$29 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PEPE/USDC PERPshort | −0.0016% | 1h | 0.000005108 | +0.274% | $9K | $120K | 12x | |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005093 | −0.021% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005090 | −0.081% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005099 | +0.097% | $59K | $181K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005096 | +0.038% | $99.4M | $419.8M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005093 | −0.021% | $162.2M | $97.4M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005098 | +0.070% | $596K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005101 | +0.144% | $28K | $544K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005109 | +0.290% | $2K | $2.7M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005099 | +0.091% | $591K | $4.2M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| KuCoin PEPEUSDTM | +0.0102% | 8h | 0.000005105 | +0.219% | $26.0M | $72.5M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0165% | 1h | 0.000005096 | +0.038% | $2K | $11K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005097 | +0.065% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0286% | 8h | 0.000005095 | +0.028% | $45.5M | $215.9M | 75x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0310% | 1h | 0.000005094 | −0.001% | $154K | $824K | 25x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0339% | 1h | 0.000005095 | +0.019% | $73K | $127K | 25x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0394% | 8h | 0.000005094 | −0.001% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0395% | 8h | 0.000005097 | +0.058% | $47.1M | $724.7M | 50x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0425% | 1h | 0.000005101 | +0.134% | $74K | $860K | 15x | as long as short |
| Kraken Futures PF_PEPEUSDlong | +0.0458% | 1h | 0.000005094 | long leg | $4.6M | $16.5M | 50x | |
| Paradex kPEPE-USD-PERP | +0.0510% | 8h | 0.000005100 | +0.116% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0516% | 8h | 0.000005096 | +0.038% | $4.4M | $29.3M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0550% | 8h | 0.000005099 | +0.093% | $2.4M | $8.0M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0624% | 1h | 0.000005099 | +0.097% | $680K | $38.5M | 50x | as long as short |
| Lighter 1000PEPE | +0.0680% | 1h | 0.000005103 | +0.176% | $607K | $9.1M | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.0680% | 1h | 0.000005102 | +0.156% | $615 | $3K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0730% | 8h | 0.000005097 | +0.048% | — | $2.3M | — | as long as short |
| Nado kPEPE-PERP | +0.0753% | 1h | 0.000005097 | +0.052% | $164K | $959K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0757% | 8h | 0.000005099 | +0.093% | $1.7M | $11.7M | 50x | as long as short |
| Extended 1000PEPE-USD | +0.0760% | 1h | 0.000005094 | −0.001% | $541K | $280K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0763% | 8h | 0.000005101 | +0.138% | $98.6M | $305.8M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0764% | 8h | 0.000005100 | +0.119% | $140.3M | $1.47B | 75x | as long as short |
| Aevo 1000PEPE-PERP | +0.0768% | 1h | 0.000005103 | +0.176% | $144K | — | 3x | as long as short |
| Hyperliquid kPEPE | +0.0945% | 1h | 0.000005106 | +0.235% | $52.8M | $156.6M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1130% / S −0.2257% | 1h | 0.000005000 | −1.846% | $63K | — | 100x | as long as short |
KuCoin PEPEUSDTM
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Bitget PEPEUSDT
ApeX Omni 1000PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Backpack kPEPE_USDC_PERP
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
Lighter 1000PEPE
01 Exchange kPEPEUSD
BingX 1000PEPE-USDC
Nado kPEPE-PERP
Aster 1000PEPEUSDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aevo 1000PEPE-PERP
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]