Funding you earn now, next payment 22:00 UTC−0.0320%/8h= −35.0% APRnext payment −$0.40 per $10,000 · paid last 24h −0.003%
Price spread now: Coinbase International against Nado−0.030%7-day average +0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$43as in the Price arb table
costs, in and out, $10k−$390.391% of the position
Funding, last 3 days (all we have)+0.005%$0 on $10k
+Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.030%, 7d avg +0.008%
=Together, before fees+0.029%+ Points / potential airdropNado: Active · farm board+$3 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Coinbase International is 0.038% cheaper against Nado than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.008%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.005% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 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 | Nado kPEPE-PERP | 0.000004841 | 0.0768 | pay 0.0096% / 1h | 44m 52s | $186K | $854K | 10x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000004840 | 0.0448 | get 0.0056% / 1h | 44m 52s | $660K | $25.5M | 50x |
Nado kPEPE-PERP
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$67.11
- Price spread: −0.030% → +0.008%
- −$3.82
- Slippage, 4 orders
- −$22.06
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$109.99
- Costs to cover
- 0.391%
- Break-even
- never at this rate
Slippage from Nado: live order book, 39 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 Nado live order book, 39 min ago | 4.12 bp | 11.9 bp −$12 | 28.6 bp −$286 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 4 min ago | 2.05 bp | 9.1 bp −$9 | 13.3 bp −$133 | 47.8 bp −$4,784 | 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 | 0.000004835 | −0.144% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004831 | −0.223% | $14K | — | 150x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004836 | −0.113% | $630K | $5.4M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004826 | −0.320% | $60.6M | $76.4M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004840 | −0.030% | $60K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004826 | −0.320% | $87.7M | $278.4M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004826 | −0.320% | $150.6M | $62.1M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004831 | −0.210% | $25.0M | $53.7M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004845 | +0.074% | $545K | $3.9M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004853 | +0.245% | $27K | $343K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Lighter 1000PEPE
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDCShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004848 | +0.131% | $1K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004835 | −0.134% | $2K | $9K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004839 | −0.053% | $549K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0170% | 8h | 0.000004829 | −0.262% | $42.6M | $151.4M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004841 | 0.000% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0206% | 8h | 0.000004830 | −0.237% | $41.5M | $490.2M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0316% / S −0.0215% | 1h | 0.000004000 | −17.381% | $52K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0325% | 8h | 0.000004836 | −0.113% | $3.9M | $22.1M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0439% | 8h | 0.000004835 | −0.140% | $30K | $11K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0442% | 8h | 0.000004839 | −0.061% | $5K | $16 | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0443% | 8h | 0.000004838 | −0.066% | $2.3M | $6.4M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0448% | 1h | 0.000004840 | −0.030% | $660K | $25.5M | 50x | |
| 01 Exchange kPEPEUSD | +0.0560% | 1h | 0.000004842 | +0.011% | $555 | $2K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0701% | 1h | 0.000004834 | −0.156% | $92K | $614K | 15x | as long as short |
| Nado kPEPE-PERPlong | +0.0768% | 1h | 0.000004841 | long leg | $186K | $854K | 10x | |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0785% | 1h | 0.000004837 | −0.092% | $82K | $94K | 25x | as long as short |
| BingX 1000PEPE-USDT | +0.0830% | 8h | 0.000004829 | −0.264% | — | $256.0M | — | as long as short |
| Binance 1000PEPEUSDT | +0.0860% | 8h | 0.000004830 | −0.239% | $130.1M | $1.03B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0864% | 1h | 0.000004830 | −0.235% | $532K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0864% | 1h | 0.000004838 | −0.072% | $137K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0865% | 8h | 0.000004830 | −0.239% | $91.6M | $282.8M | 300x | as long as short |
| Injective PEPE/USDC PERP | +0.0873% | 1h | 0.000004868 | +0.548% | $4K | $103K | 12x | as long as short |
| Aster 1000PEPEUSDT | +0.0892% | 8h | 0.000004831 | −0.210% | $1.5M | $7.0M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.1140% | 1h | 0.000004853 | +0.238% | $103K | $764K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1319% | 1h | 0.000004834 | −0.144% | $4.0M | $13.2M | 50x | as long as short |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Bitget PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
Backpack kPEPE_USDC_PERP
Deribit 1000PEPE_USDC-PERPETUAL
BingX 1000PEPE-USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Injective PEPE/USDC PERP
Aster 1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
Kraken Futures PF_PEPEUSD