Funding you earn now, next payment 05:00 UTC+0.0258%/8h= +28.3% APRpaid last 24h +0.071%
Price spread now: Coinbase International against OKX+0.194%7-day average −0.003% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$19as in the Price arb table
costs, in and out, $10k−$390.387% of the position
Funding, last 7 days+0.042%+$4 on $10k
+Price spread, last 4 days (all we have)−0.233%−$23 · spread now +0.194%, 7d avg −0.003%
=Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.198% dearer against OKX than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.003%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% 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 | 0.000005147 | 0.0422 | pay 0.0422% / 8h | 2h 07m | $47.5M | $713.2M | 50x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000005157 | 0.0680 | get 0.0085% / 1h | 7m 06s | $694K | $38.1M | 50x |
OKX PEPE-USDT-SWAP
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- $54.26
- Price spread: +0.194% → −0.003%
- $19.76
- Slippage, 4 orders
- −$18.74
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $35.27
- Costs to cover
- 0.387%
- Break-even
- 2.4 days
Slippage from OKX: live order book, 2 min ago; Coinbase International: live order book, 2 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, 2 min ago | 0.97 bp | 8.6 bp −$9 | 12.5 bp −$125 | 36.0 bp −$3,604 | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 3.88 bp | 12.5 bp −$13 | 16.2 bp −$162 | 61.6 bp −$6,159 | 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 | 0.000005150 | +0.050% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0007% | 1h | 0.000005154 | +0.130% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005158 | +0.214% | $59K | $178K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005148 | +0.027% | $100.7M | $410.3M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005157 | +0.194% | $163.3M | $95.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005163 | +0.319% | $26.2M | $71.4M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005142 | −0.105% | $614K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005135 | −0.231% | $28K | $538K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005165 | +0.354% | $2K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005160 | +0.253% | $586K | $4.2M | 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 | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0184% | 1h | 0.000005161 | +0.272% | $2K | $11K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005158 | +0.204% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0323% | 8h | 0.000005158 | +0.220% | $46.0M | $212.6M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0383% | 8h | 0.000005163 | +0.303% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAPlong | +0.0422% | 8h | 0.000005147 | long leg | $47.5M | $713.2M | 50x | |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0526% | 1h | 0.000005158 | +0.214% | $74K | $127K | 25x | as long as short |
| BloFin PEPE-USDT | +0.0549% | 8h | 0.000005159 | +0.233% | $4.3M | $29.3M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0550% | 8h | 0.000005158 | +0.211% | $6K | — | 20x | as long as short |
| Lighter 1000PEPE | +0.0592% | 1h | 0.000005165 | +0.350% | $623K | $9.1M | 10x | as long as short |
| Phemex u1000PEPEUSDT | +0.0611% | 8h | 0.000005163 | +0.307% | $2.4M | $7.9M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0645% | 1h | 0.000005156 | +0.180% | $160K | $951K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0660% | 1h | 0.000005160 | +0.251% | $67K | $842K | 15x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0680% | 1h | 0.000005157 | +0.194% | $694K | $38.1M | 50x | |
| 01 Exchange kPEPEUSD | +0.0688% | 1h | 0.000005163 | +0.311% | $623 | $3K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0762% | 8h | 0.000005158 | +0.223% | — | $2.3M | — | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0784% | 1h | 0.000005139 | −0.155% | $156K | $817K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0797% | 8h | 0.000005162 | +0.295% | $99.2M | $304.4M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0798% | 8h | 0.000005151 | +0.071% | $143.2M | $1.43B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0800% | 1h | 0.000005160 | +0.252% | $547K | $281K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000005162 | +0.291% | $146K | — | 3x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0828% | 1h | 0.000005158 | +0.217% | $4.7M | $16.7M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0833% | 8h | 0.000005155 | +0.153% | $1.9M | $11.4M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1026% | 1h | 0.000005160 | +0.253% | $54.9M | $153.5M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1132% / S −0.2351% | 1h | 0.000005000 | −2.856% | $63K | — | 100x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000005158 | +0.214% | $10K | $119K | 12x | as long as short |
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
Deribit 1000PEPE_USDC-PERPETUAL
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Lighter 1000PEPE
Phemex u1000PEPEUSDT
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
BingX 1000PEPE-USDC
ApeX Omni 1000PEPEUSDT
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Kraken Futures PF_PEPEUSD
Aster 1000PEPEUSDT
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]
Injective PEPE/USDC PERP