Funding you earn now, next payment 07:00 UTC+0.0046%/8h= +5.1% APRnext payment +$0.06 per $10,000 · paid last 24h 0.000%
Price spread now: Backpack against Lighter+0.327%7-day average −0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$21as in the Funding arb table
Net, price: spread back to 7d avg − costs+$12as in the Price arb table
costs, in and out, $10k−$270.272% of the position
Funding, last 7 days+0.058%+$6 on $10k
+Price spread, last 4 days (all we have)−0.301%−$30 · spread now +0.327%, 7d avg −0.063%
=Together, before fees−0.243%+ Points / potential airdropLighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.390% dearer against Lighter than usual: you sell high and buy low: +$39 more if the spread goes back to its 7-day average of −0.063%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter 1000PEPE | 0.000005170 | 0.0736 | pay 0.0092% / 1h | 56m 28s | $622K | $9.0M | 10x |
| Short | Backpack kPEPE_USDC_PERP | 0.000005187 | 0.0782 | get 0.0098% / 1h | 56m 28s | $72K | $848K | 15x |
Lighter 1000PEPE
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter. 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
- $9.74
- Price spread: +0.327% → −0.063%
- $39.03
- Slippage, 4 orders
- −$17.24
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $21.53
- Costs to cover
- 0.272%
- Break-even
- from the start
Slippage from Lighter: live order book, 7 min ago; Backpack: live order book, 52 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 Lighter live order book, 7 min ago | 1.95 bp | 8.5 bp −$9 | 20.0 bp −$200 | 50.8 bp −$5,082 | doesn't fit |
| Sell Backpack live order book, 52 min ago | 0.10 bp | 5.2 bp −$5 | 24.3 bp −$243 | 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 PERP | −0.0016% | 1h | 0.000005206 | +0.696% | $10K | $119K | 12x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005156 | −0.270% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005187 | +0.337% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005166 | −0.077% | $60K | $180K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005161 | −0.172% | $101.5M | $413.1M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005160 | −0.193% | $163.2M | $95.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005165 | −0.089% | $25.9M | $71.7M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005159 | −0.222% | $617K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005173 | +0.057% | $28K | $539K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005199 | +0.563% | $1K | $2.6M | 20x | as long as short |
Injective PEPE/USDC PERP
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005190 | +0.387% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005187 | +0.329% | $590K | $4.2M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005165 | −0.101% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0310% | 8h | 0.000005161 | −0.174% | $46.2M | $213.7M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0379% | 8h | 0.000005187 | +0.319% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0417% | 8h | 0.000005163 | −0.135% | $48.4M | $721.5M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0450% | 1h | 0.000005187 | +0.326% | $4.7M | $16.8M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0518% | 8h | 0.000005167 | −0.065% | $6K | — | 20x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0522% | 1h | 0.000005188 | +0.348% | $74K | $127K | 25x | as long as short |
| BloFin PEPE-USDT | +0.0545% | 8h | 0.000005186 | +0.309% | $4.4M | $29.6M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0556% | 8h | 0.000005184 | +0.271% | $2.4M | $8.0M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0624% | 1h | 0.000005187 | +0.329% | $701K | $38.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0672% | 1h | 0.000005162 | −0.155% | $623 | $3K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0672% | 1h | 0.000005154 | −0.309% | $156K | $818K | 25x | as long as short |
| Lighter 1000PEPElong | +0.0736% | 1h | 0.000005170 | long leg | $622K | $9.0M | 10x | |
| Nado kPEPE-PERP | +0.0738% | 1h | 0.000005162 | −0.157% | $165K | $955K | 10x | as long as short |
| BingX 1000PEPE-USDT | +0.0751% | 8h | 0.000005165 | −0.091% | — | $217.3M | — | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0782% | 1h | 0.000005187 | +0.327% | $72K | $848K | 15x | |
| Aevo 1000PEPE-PERP | +0.0784% | 1h | 0.000005194 | +0.464% | $147K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0788% | 8h | 0.000005157 | −0.248% | $98.5M | $301.8M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0789% | 8h | 0.000005163 | −0.133% | $143.0M | $1.44B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0792% | 1h | 0.000005160 | −0.190% | $547K | $281K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0812% | 8h | 0.000005165 | −0.101% | $1.8M | $11.6M | 50x | as long as short |
| Hyperliquid kPEPE | +0.0898% | 1h | 0.000005168 | −0.039% | $55.2M | $154.4M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1134% / S −0.2351% | 1h | 0.000005000 | −3.288% | $64K | — | 100x | as long as short |
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Kraken Futures PF_PEPEUSD
Paradex kPEPE-USD-PERP
Deribit 1000PEPE_USDC-PERPETUAL
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
BingX 1000PEPE-USDT
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aster 1000PEPEUSDT
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]