PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0616%/8h= −67.5% APRnext payment −$0.77 per $10,000 · paid last 24h −0.058%

Price spread now: Coinbase International against Lighter−0.038%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.153%−$15 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.038%, 7d avg −0.034%

Together, before fees−0.141%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: −$18 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.153% in total (about -8.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.77 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	Lighter 1000PEPE	0.000005328	0.1328	pay 0.0166% / 1h	45m 04s	$692K	$8.6M	10x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000005326	0.0712	get 0.0089% / 1h	45m 04s	$712K	$36.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee Coinbase InternationalbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$129.36
Price spread: −0.038% → −0.034%: −$0.34
Slippage, 4 orders: −$38.14
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$177.84
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Coinbase International: live order book, 4 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, 8 min ago	7.51 bp	12.0 bp −$12	21.0 bp −$210	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	4.68 bp	10.8 bp −$11	17.9 bp −$179	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
dYdX PEPE-USD	0.0000%	1h	0.000005317	−0.198%	$20K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005313	−0.280%	$15K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005381	+0.995%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005321	−0.131%	$69K	$153K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005316	−0.229%	$104.8M	$372.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005316	−0.225%	$176.2M	$86.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005328	+0.004%	$26.9M	$67.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005314	−0.271%	$761K	$5.1M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005342	+0.271%	$43K	$498K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005325	−0.064%	$2K	$2.5M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005327	−0.011%	$610K	$3.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005322	−0.122%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0264%	8h	0.000005316	−0.220%	$51.9M	$186.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0380%	8h	0.000005328	−0.008%	$36K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0422%	8h	0.000005322	−0.113%	$52.5M	$675.6M	50x	as long as short
BloFin PEPE-USDT	+0.0544%	8h	0.000005326	−0.038%	$4.5M	$28.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0619%	8h	0.000005329	+0.013%	$2.6M	$7.5M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0634%	1h	0.000005327	−0.019%	$2K	$10K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0690%	1h	0.000005327	−0.019%	$75K	$126K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0712%	1h	0.000005326	−0.038%	$712K	$36.3M	50x
BingX 1000PEPE-USDT	+0.0764%	8h	0.000005316	−0.216%	—	$264.0M	—	as long as short
Paradex kPEPE-USD-PERP	+0.0799%	8h	0.000005320	−0.142%	$6K	—	20x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005320	−0.150%	$150K	—	3x	as long as short
MEXC PEPE_USDT	+0.0807%	8h	0.000005323	−0.094%	$103.7M	$292.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0807%	8h	0.000005324	−0.075%	$154.1M	$1.31B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000005328	−0.003%	$563K	$226K	25x	as long as short
Nado kPEPE-PERP	+0.0856%	1h	0.000005325	−0.047%	$190K	$914K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0897% / S −0.1756%	1h	0.000005000	−6.156%	$65K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0935%	8h	0.000005326	−0.034%	$1.9M	$9.9M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1118%	1h	0.000005342	+0.263%	$177K	$798K	25x	as long as short
01 Exchange kPEPEUSD	+0.1240%	1h	0.000005333	+0.094%	$643	$3K	10x	as long as short
Lighter 1000PEPElong	+0.1328%	1h	0.000005328	long leg	$692K	$8.6M	10x
Backpack kPEPE_USDC_PERP	+0.1350%	1h	0.000005325	−0.062%	$72K	$722K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1533%	1h	0.000005325	−0.064%	$4.9M	$16.3M	50x	as long as short
Hyperliquid kPEPE	+0.1762%	1h	0.000005323	−0.094%	$58.4M	$144.5M	10x	as long as short