Funding you earn now, next payment 03:00 UTC+0.0176%/8h= +19.3% APRnext payment +$0.22 per $10,000 · paid last 24h +0.047%
Price spread now: Backpack against Nado+0.357%7-day average −0.001% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$440.441% of the position
Funding, last 3 days (all we have)+0.052%+$5 on $10k
+Price spread, last 4 days (all we have)−0.520%−$52 · spread now +0.357%, 7d avg −0.001%
=Together, before fees−0.468%+ Points / potential airdropNado: Active · farm board−$47 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Backpack is 0.357% dearer against Nado than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of −0.001%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Nado kPEPE-PERP | 0.000005019 | 0.0788 | pay 0.0098% / 1h | 10m 30s | $186K | $872K | 10x |
| Short | Backpack kPEPE_USDC_PERP | 0.000005036 | 0.0964 | get 0.0120% / 1h | 10m 30s | $93K | $632K | 15x |
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Nado. 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
- $37
- Price spread: +0.357% → −0.001%
- $35.75
- Slippage, 4 orders
- −$27.07
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $28.67
- Costs to cover
- 0.441%
- Break-even
- 1.6 days
Slippage from Nado: live order book, 53 min ago; Backpack: live order book, 53 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 Nado live order book, 53 min ago | 3.94 bp | 10.9 bp −$11 | 38.0 bp −$380 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 53 min ago | 0.89 bp | 6.5 bp −$6 | 21.1 bp −$211 | 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 | 0.000005018 | 0.000% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005019 | +0.020% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005026 | +0.149% | $64K | $139K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005021 | +0.044% | $97.5M | $340.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005020 | +0.030% | $164.8M | $75.7M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005020 | +0.022% | $25.8M | $63.3M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005020 | +0.020% | $681K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005022 | +0.068% | $27K | $443K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005031 | +0.241% | $1K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005026 | +0.147% | $571K | $3.6M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget PEPEUSDT | +0.0131% | 8h | 0.000005020 | +0.032% | $45.9M | $173.2M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005017 | −0.039% | $8K | — | 15x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0317% | 8h | 0.000005030 | +0.237% | $33K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0343% | 8h | 0.000005026 | +0.149% | $45.6M | $588.2M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0460% | 8h | 0.000005032 | +0.269% | $4.3M | $25.1M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0533% | 1h | 0.000005034 | +0.309% | $2K | $12K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0542% | 1h | 0.000005020 | +0.030% | $99K | $755K | 25x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0576% | 1h | 0.000005027 | +0.169% | $942K | $31.5M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0608% | 8h | 0.000005024 | +0.100% | — | $2.3M | — | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0631% / S −0.1011% | 1h | 0.000005000 | −0.369% | $49K | — | 100x | as long as short |
| MEXC PEPE_USDT | +0.0636% | 8h | 0.000005021 | +0.056% | $94.6M | $290.5M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0638% | 8h | 0.000005023 | +0.099% | $140.5M | $1.21B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0640% | 1h | 0.000005024 | +0.110% | $533K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0640% | 1h | 0.000005018 | −0.010% | $142K | — | 3x | as long as short |
| Phemex u1000PEPEUSDT | +0.0713% | 8h | 0.000005026 | +0.155% | $2.4M | $7.1M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0737% | 8h | 0.000005027 | +0.163% | $1.8M | $9.2M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0783% | 8h | 0.000005021 | +0.047% | $6K | — | 20x | as long as short |
| Nado kPEPE-PERPlong | +0.0788% | 1h | 0.000005019 | long leg | $186K | $872K | 10x | |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0944% | 1h | 0.000005031 | +0.249% | $71K | $124K | 25x | as long as short |
| 01 Exchange kPEPEUSD | +0.0960% | 1h | 0.000005033 | +0.289% | $607 | $3K | 10x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0964% | 1h | 0.000005036 | +0.357% | $93K | $632K | 15x | |
| Injective PEPE/USDC PERP | +0.0973% | 1h | 0.000005011 | −0.149% | $4K | $102K | 12x | as long as short |
| Lighter 1000PEPE | +0.1176% | 1h | 0.000005026 | +0.149% | $665K | $8.1M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1383% | 1h | 0.000005032 | +0.264% | $4.3M | $15.2M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1586% | 1h | 0.000005032 | +0.269% | $53.8M | $139.6M | 10x | as long as short |
Bitget PEPEUSDT
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
SoDEX 1000PEPE-USD
ApeX Omni 1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDC
GMX PEPE/USD [ETH-USDC]
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Phemex u1000PEPEUSDT
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
Deribit 1000PEPE_USDC-PERPETUAL
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE