Funding you earn now, next payment 02:00 UTC+0.0645%/8h= +70.7% APRpaid last 24h +0.087%
Price spread now: Backpack against OKX+0.125%7-day average +0.021% · 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−$32as in the Price arb table
costs, in and out, $10k−$420.424% of the position
Funding, last 7 days+0.210%+$21 on $10k
+Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.125%, 7d avg +0.021%
=Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Backpack is 0.104% dearer against OKX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.021%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.210% in total (about 11.0% a year). A funding rate is set anew for every payment. 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 | OKX PEPE-USDT-SWAP | 0.000005030 | 0.0205 | pay 0.0205% / 8h | 6h 47m | $44.4M | $557.0M | 50x |
| Short | Backpack kPEPE_USDC_PERP | 0.000005036 | 0.0850 | get 0.0106% / 1h | 47m 47s | $101K | $624K | 15x |
OKX PEPE-USDT-SWAP
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against OKX. 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
- $135.5
- Price spread: +0.125% → +0.021%
- $10.41
- Slippage, 4 orders
- −$22.42
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $103.49
- Costs to cover
- 0.424%
- Break-even
- 1.7 days
Slippage from OKX: live order book, 1 min ago; Backpack: live order book, 21 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 OKX live order book, 1 min ago | 0.99 bp | 6.5 bp −$6 | 11.4 bp −$114 | 38.4 bp −$3,843 | doesn't fit |
| Sell Backpack live order book, 21 min ago | 4.93 bp | 11.8 bp −$12 | 27.1 bp −$271 | 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 | 0.000005017 | −0.265% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005008 | −0.429% | $3K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005027 | −0.060% | $62K | $125K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005023 | −0.145% | $96.9M | $319.6M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005028 | −0.040% | $159.8M | $69.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005032 | +0.034% | $25.3M | $59.2M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005028 | −0.040% | $44.6M | $158.3M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004998 | −0.642% | $557K | $4.5M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004981 | −0.974% | $46K | $387K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000004999 | −0.616% | $106K | $751K | 25x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
ApeX Omni 1000PEPEUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005032 | +0.032% | $2K | $2.5M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005022 | −0.159% | $559K | $3.6M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0100% | 8h | 0.000005031 | +0.016% | $2.4M | $6.8M | 50x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005013 | −0.333% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAPlong | +0.0205% | 8h | 0.000005030 | long leg | $44.4M | $557.0M | 50x | |
| Orderly PERP_1000PEPE_USDC | +0.0273% | 8h | 0.000005026 | −0.085% | $33K | $22K | 20x | as long as short |
| BloFin PEPE-USDT | +0.0318% | 8h | 0.000005008 | −0.437% | $4.2M | $24.6M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0395% | 8h | 0.000005026 | −0.077% | $6K | $16 | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0424% | 1h | 0.000005015 | −0.298% | $660K | $28.7M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0450% | 8h | 0.000005031 | +0.020% | — | $258.0M | — | as long as short |
| MEXC PEPE_USDT | +0.0479% | 8h | 0.000005035 | +0.103% | $95.9M | $288.0M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0480% | 1h | 0.000005034 | +0.077% | $552K | $199K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0480% | 1h | 0.000005027 | −0.060% | $142K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0481% | 8h | 0.000005034 | +0.078% | $139.5M | $1.16B | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0505% / S −0.0410% | 1h | 0.000005000 | −0.596% | $63K | — | 100x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0547% | 1h | 0.000005023 | −0.139% | $61K | $114K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0561% | 8h | 0.000005030 | +0.006% | $1.7M | $8.0M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0599% | 1h | 0.000005023 | −0.139% | $2K | $12K | 10x | as long as short |
| Nado kPEPE-PERP | +0.0610% | 1h | 0.000005015 | −0.293% | $177K | $883K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0829% | 1h | 0.000005024 | −0.126% | $3.9M | $14.4M | 50x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0850% | 1h | 0.000005036 | +0.125% | $101K | $624K | 15x | |
| Injective PEPE/USDC PERP | +0.0909% | 1h | 0.000005024 | −0.119% | $4K | $102K | 12x | as long as short |
| 01 Exchange kPEPEUSD | +0.0936% | 1h | 0.000005034 | +0.080% | $1K | $2K | 10x | as long as short |
| Lighter 1000PEPE | +0.1168% | 1h | 0.000005027 | −0.060% | $646K | $6.8M | 10x | as long as short |
| Hyperliquid kPEPE | +0.2577% | 1h | 0.000005039 | +0.179% | $55.6M | $134.8M | 10x | as long as short |
SunX 1000PEPE-USDT
HTX PEPE-USDT
Phemex u1000PEPEUSDT
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Deribit 1000PEPE_USDC-PERPETUAL
Aster 1000PEPEUSDT
SoDEX 1000PEPE-USD
Nado kPEPE-PERP
Kraken Futures PF_PEPEUSD
Injective PEPE/USDC PERP
01 Exchange kPEPEUSD
Lighter 1000PEPE
Hyperliquid kPEPE