Funding you earn now, next payment 04:00 UTC+0.0546%/8h= +59.8% APRnext payment +$0.68 per $10,000 · paid last 24h +0.109%
Price spread now: Kraken Futures against Deribit−0.077%7-day average −0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$60as in the Price arb table
costs, in and out, $10k−$530.526% of the position
Funding, last 7 days+0.108%+$11 on $10k
+Price spread, last 4 days (all we have)+0.035%+$4 · spread now −0.077%, 7d avg −0.007%
=Funding pays, the price is against you. Kraken Futures is 0.070% cheaper against Deribit than usual: you would sell low and buy high (spread −0.077% now, against its 7-day average of −0.007%). If the spread goes back, that is −$7 on $10k: about 10 hours of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.108% in total) that is about 4.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.108% in total (about 5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.68 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 | Deribit 1000PEPE_USDC-PERPETUAL | 0.000005110 | 0.0729 | pay 0.0091% / 1h | 39m 29s | $72K | $124K | 25x |
| Short | Kraken Futures PF_PEPEUSD | 0.000005106 | 0.1276 | get 0.0159% / 1h | 39m 29s | $4.5M | $15.5M | 50x |
Deribit 1000PEPE_USDC-PERPETUAL
Kraken Futures PF_PEPEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Deribit. 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
- $114.7
- Price spread: −0.077% → −0.007%
- −$7
- Slippage, 4 orders
- −$35.64
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $55.06
- Costs to cover
- 0.526%
- Break-even
- 3.6 days
Slippage from Deribit: live order book, 49 min ago; Kraken Futures: live order book, 5 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 Deribit live order book, 49 min ago | 4.99 bp | 8.5 bp −$8 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 5 min ago | 6.29 bp | 16.7 bp −$17 | 20.3 bp −$203 | 95.4 bp −$9,542 | 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 | 0.000005098 | −0.233% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005096 | −0.270% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005107 | −0.059% | $65K | $141K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005097 | −0.249% | $99.6M | $346.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005098 | −0.235% | $169.3M | $76.2M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005102 | −0.151% | $26.2M | $64.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005091 | −0.380% | $688K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005091 | −0.381% | $31K | $451K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005116 | +0.114% | $2K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005107 | −0.065% | $585K | $3.7M | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget PEPEUSDT | +0.0174% | 8h | 0.000005102 | −0.166% | $46.5M | $175.2M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005099 | −0.222% | $8K | — | 15x | as long as short |
| Injective PEPE/USDC PERP | +0.0254% | 1h | 0.000005044 | −1.292% | $3K | $102K | 12x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0335% | 8h | 0.000005101 | −0.178% | $33K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0366% | 8h | 0.000005099 | −0.215% | $46.1M | $604.3M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0482% | 8h | 0.000005099 | −0.215% | $4.4M | $25.6M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0586% | 8h | 0.000005105 | −0.092% | $2.4M | $7.1M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0647% | 8h | 0.000005100 | −0.186% | — | $261.9M | — | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0672% | 1h | 0.000005113 | +0.059% | $979K | $32.2M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0675% / S −0.0930% | 1h | 0.000005000 | −2.153% | $46K | — | 100x | as long as short |
| Aevo 1000PEPE-PERP | +0.0688% | 1h | 0.000005101 | −0.176% | $144K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0694% | 8h | 0.000005100 | −0.198% | $93.4M | $287.7M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0696% | 1h | 0.000005100 | −0.194% | $541K | $226K | 25x | as long as short |
| Binance 1000PEPEUSDT | +0.0699% | 8h | 0.000005107 | −0.068% | $144.8M | $1.23B | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0707% | 1h | 0.000005109 | −0.020% | $2K | $12K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALlong | +0.0729% | 1h | 0.000005110 | long leg | $72K | $124K | 25x | |
| Nado kPEPE-PERP | +0.0788% | 1h | 0.000005103 | −0.142% | $199K | $880K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0794% | 8h | 0.000005102 | −0.160% | $1.8M | $9.3M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0804% | 8h | 0.000005103 | −0.129% | $6K | — | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0824% | 1h | 0.000005099 | −0.215% | $101K | $743K | 25x | as long as short |
| Lighter 1000PEPE | +0.0920% | 1h | 0.000005108 | −0.039% | $579K | $8.2M | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0948% | 1h | 0.000005107 | −0.063% | $98K | $655K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.1048% | 1h | 0.000005119 | +0.176% | $617 | $3K | 10x | as long as short |
| Kraken Futures PF_PEPEUSDshort | +0.1276% | 1h | 0.000005106 | −0.077% | $4.5M | $15.5M | 50x | |
| Hyperliquid kPEPE | +0.1460% | 1h | 0.000005114 | +0.078% | $54.9M | $140.3M | 10x | as long as short |
Bitget PEPEUSDT
Reya kPEPERUSDPERP
Injective PEPE/USDC PERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
BingX 1000PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
GMX PEPE/USD [ETH-USDC]
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Extended 1000PEPE-USD
Binance 1000PEPEUSDT
SoDEX 1000PEPE-USD
Nado kPEPE-PERP
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
Lighter 1000PEPE
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Hyperliquid kPEPE