Funding you earn now, next payment 06:00 UTC+0.0303%/8h= +33.2% APRpaid last 24h +0.076%
Price spread now: Deribit against OKX−0.310%56s7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$780.783% of the position
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)+0.427%+$43 · spread now −0.310%, 7d avg −0.016%
=Funding pays, the price is against you. Deribit is 0.294% cheaper against OKX than usual: you would sell low and buy high (spread −0.310% now, against its 7-day average of −0.016%). If the spread goes back, that is −$29 on $10k: about 3.2 days of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.050% in total) that is about 41 days. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% 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 | 0.000005164 | 0.0419 | pay 0.0419% / 8h | 2h 01m | $48.1M | $718.5M | 50x |
| Short | Deribit 1000PEPE_USDC-PERPETUAL | 0.000005148 | 0.0722 | get 0.0090% / 1h | 1m 25s | $73K | $127K | 25x |
OKX PEPE-USDT-SWAP
Deribit 1000PEPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $63.62
- Price spread: −0.310% → −0.016%
- −$29.42
- Slippage, 4 orders
- −$61.25
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$44.05
- Costs to cover
- 0.783%
- Break-even
- 11.8 days
Slippage from OKX: live order book, 3 min ago; Deribit: live order book, 12 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, 3 min ago | 0.98 bp | 8.8 bp −$9 | 14.4 bp −$144 | 36.0 bp −$3,600 | doesn't fit |
| Sell Deribit live order book, 12 min ago | 27.35 bp | 30.8 bp −$31 | doesn't fit | 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 | 0.000005145 | −0.367% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0007% | 1h | 0.000005155 | −0.167% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005152 | −0.232% | $59K | $178K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005160 | −0.081% | $100.7M | $410.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005153 | −0.213% | $163.1M | $95.9M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005154 | −0.199% | $25.9M | $71.6M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005136 | −0.550% | $614K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005129 | −0.683% | $28K | $540K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005159 | −0.097% | $1K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005137 | −0.519% | $584K | $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 | +0.0137% | 1h | 0.000005154 | −0.194% | $2K | $11K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005163 | −0.020% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0316% | 8h | 0.000005162 | −0.035% | $45.9M | $213.0M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0379% | 8h | 0.000005162 | −0.033% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAPlong | +0.0419% | 8h | 0.000005164 | long leg | $48.1M | $718.5M | 50x | |
| Paradex kPEPE-USD-PERP | +0.0539% | 8h | 0.000005150 | −0.279% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0543% | 8h | 0.000005131 | −0.639% | $4.4M | $29.2M | 75x | as long as short |
| Lighter 1000PEPE | +0.0600% | 1h | 0.000005155 | −0.174% | $622K | $9.1M | 10x | as long as short |
| Phemex u1000PEPEUSDT | +0.0610% | 8h | 0.000005155 | −0.170% | $2.4M | $8.0M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0650% | 1h | 0.000005158 | −0.116% | $162K | $953K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0652% | 1h | 0.000005156 | −0.151% | $67K | $844K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0680% | 1h | 0.000005155 | −0.174% | $622 | $3K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0680% | 1h | 0.000005146 | −0.349% | $688K | $38.1M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0703% | 1h | 0.000005129 | −0.678% | $155K | $818K | 25x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALshort | +0.0722% | 1h | 0.000005148 | −0.310% | $73K | $127K | 25x | |
| BingX 1000PEPE-USDT | +0.0757% | 8h | 0.000005161 | −0.064% | — | $217.1M | — | as long as short |
| Extended 1000PEPE-USD | +0.0784% | 1h | 0.000005149 | −0.286% | $544K | $281K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0787% | 8h | 0.000005163 | −0.023% | $99.2M | $305.1M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0791% | 8h | 0.000005162 | −0.044% | $143.0M | $1.44B | 75x | as long as short |
| Aevo 1000PEPE-PERP | +0.0792% | 1h | 0.000005164 | 0.000% | $146K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0817% | 8h | 0.000005158 | −0.110% | $1.9M | $11.5M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0828% | 1h | 0.000005155 | −0.178% | $4.7M | $16.8M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1037% | 1h | 0.000005167 | +0.058% | $55.1M | $154.0M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1132% / S −0.2351% | 1h | 0.000005000 | −3.176% | $63K | — | 100x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000005128 | −0.697% | $10K | $119K | 12x | as long as short |
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Lighter 1000PEPE
Phemex u1000PEPEUSDT
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Coinbase International 1000PEPE-PERP-INTX
ApeX Omni 1000PEPEUSDT
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]
Injective PEPE/USDC PERP