Funding you earn now, next payment 05:00 UTC−0.1063%/8h= −116.4% APRpaid last 24h −0.133%
Price spread now: KuCoin against Backpack−0.063%7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$84as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$600.595% of the position
Funding, last 7 days−0.244%−$24 on $10k
+Price spread, last 4 days (all we have)+0.025%+$2 · spread now −0.063%, 7d avg −0.016%
=Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and KuCoin is 0.047% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.016%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.244% in total (about -12.7% 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 | Backpack kPEPE_USDC_PERP | 0.000005243 | 0.1163 | pay 0.0145% / 1h | 23m 04s | $68K | $724K | 15x |
| Short | KuCoin PEPEUSDTM | 0.000005240 | 0.0100 | get 0.0100% / 8h | 3h 23m | $26.0M | $68.5M | 75x |
Backpack kPEPE_USDC_PERP
KuCoin PEPEUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin against Backpack. 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
- −$223.23
- Price spread: −0.063% → −0.016%
- −$4.71
- Slippage, 4 orders
- −$37.55
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$287.49
- Costs to cover
- 0.595%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 31 min ago; KuCoin: live order book, 6 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 Backpack live order book, 31 min ago | 0.94 bp | 24.3 bp −$24 | 59.7 bp −$597 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 6 min ago | 1.61 bp | 16.2 bp −$16 | 29.4 bp −$294 | 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 | 0.000005232 | −0.207% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005232 | −0.206% | $14K | — | 150x | as long as short |
| Injective PEPE/USDC PERP | +0.0092% | 1h | 0.000005327 | +1.604% | $3K | $111K | 12x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005238 | −0.093% | $66K | $162K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005235 | −0.143% | $106.9M | $380.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005238 | −0.093% | $173.0M | $88.6M | 75x | as long as short |
| KuCoin PEPEUSDTMshort | +0.0100% | 8h | 0.000005240 | −0.063% | $26.0M | $68.5M | 75x | |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005215 | −0.541% | $677K | $5.2M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005260 | +0.324% | $29K | $533K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005246 | +0.055% | $2K | $2.5M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Injective PEPE/USDC PERP
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005241 | −0.046% | $588K | $3.9M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005237 | −0.108% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0303% | 8h | 0.000005241 | −0.032% | $50.9M | $190.6M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0396% | 8h | 0.000005244 | +0.025% | $35K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0434% | 8h | 0.000005240 | −0.055% | $50.5M | $677.0M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0455% | 8h | 0.000005239 | −0.071% | $6K | — | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0503% | 1h | 0.000005243 | +0.002% | $2K | $10K | 10x | as long as short |
| BloFin PEPE-USDT | +0.0562% | 8h | 0.000005240 | −0.055% | $4.9M | $28.3M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0644% | 8h | 0.000005241 | −0.027% | $2.5M | $7.6M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0712% | 1h | 0.000005245 | +0.040% | $723K | $36.4M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0761% | 8h | 0.000005242 | −0.013% | — | $235.6M | — | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000005235 | −0.151% | $148K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0801% | 8h | 0.000005242 | −0.011% | $100.7M | $295.9M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0804% | 8h | 0.000005242 | −0.017% | $152.7M | $1.33B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0808% | 1h | 0.000005243 | +0.005% | $553K | $231K | 25x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0843% | 1h | 0.000005254 | +0.212% | $161K | $808K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0875% | 1h | 0.000005236 | −0.134% | $188K | $916K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0909% | 8h | 0.000005243 | +0.010% | $1.8M | $10.3M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0962% / S −0.1923% | 1h | 0.000005000 | −4.633% | $64K | — | 100x | as long as short |
| 01 Exchange kPEPEUSD | +0.0992% | 1h | 0.000005243 | +0.002% | $632 | $3K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.1087% | 1h | 0.000005241 | −0.036% | $75K | $126K | 25x | as long as short |
| Backpack kPEPE_USDC_PERPlong | +0.1163% | 1h | 0.000005243 | long leg | $68K | $724K | 15x | |
| Lighter 1000PEPE | +0.1232% | 1h | 0.000005246 | +0.059% | $634K | $8.8M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1558% | 1h | 0.000005239 | −0.076% | $4.8M | $16.4M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1577% | 1h | 0.000005245 | +0.040% | $57.1M | $145.8M | 10x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
SoDEX 1000PEPE-USD
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
Aster 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
01 Exchange kPEPEUSD
Deribit 1000PEPE_USDC-PERPETUAL
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE