Funding you earn now, next payment 00:00 UTC+0.0497%/8h= +54.5% APRpaid last 24h +0.084%
Price spread now: Backpack against HTX+0.019%7-day average −0.018% · you sell dearer than you buy
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$44as in the Price arb table
costs, in and out, $10k−$470.473% of the position
Funding, last 7 days+0.145%+$14 on $10k
+Price spread, last 3 days (all we have)−0.094%−$9 · spread now +0.019%, 7d avg −0.018%
=Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Backpack is 0.037% dearer against HTX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.018%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.145% in total (about 7.6% 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 | HTX PEPE-USDT | 0.000004818 | 0.0100 | pay 0.0100% / 8h | 50m 31s | $546K | $3.5M | 75x |
| Short | Backpack kPEPE_USDC_PERP | 0.000004819 | 0.0597 | get 0.0075% / 1h | 50m 31s | $91K | $602K | 15x |
HTX PEPE-USDT
Backpack kPEPE_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against HTX. 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
- $104.43
- Price spread: +0.019% → −0.018%
- $3.71
- Slippage, 4 orders
- −$25.35
- Fee HTX: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $60.79
- Costs to cover
- 0.473%
- Break-even
- 2.9 days
Slippage from HTX: live order book, 3 min ago; Backpack: live order book, 28 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 HTX live order book, 3 min ago | 5.94 bp | 15.1 bp −$15 | 28.1 bp −$281 | doesn't fit | doesn't fit |
| Sell Backpack live order book, 28 min ago | 3.23 bp | 8.3 bp −$8 | 25.8 bp −$258 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid kPEPE | −0.0217% | 1h | 0.000004812 | −0.129% | $67.2M | $87.4M | 10x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004818 | −0.008% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004816 | −0.044% | $14K | — | 150x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0066% | 1h | 0.000004818 | −0.003% | $3.9M | $13.5M | 50x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004820 | +0.037% | $60K | $114K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004817 | −0.021% | $86.6M | $287.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004818 | −0.004% | $151.1M | $63.9M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004822 | +0.071% | $24.7M | $54.3M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000004819 | +0.008% | $42.6M | $149.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004798 | −0.422% | $596K | $4.1M | — | as long as short |
Hyperliquid kPEPE
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Kraken Futures PF_PEPEUSD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPEShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004806 | −0.248% | $28K | $344K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004829 | +0.232% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004820 | +0.037% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDTlong | +0.0100% | 8h | 0.000004818 | long leg | $546K | $3.5M | 75x | |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004820 | +0.028% | $7K | — | 15x | as long as short |
| Lighter 1000PEPE | +0.0200% | 1h | 0.000004823 | +0.100% | $637K | $6.3M | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0214% | 1h | 0.000004796 | −0.461% | $100K | $760K | 25x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0217% | 8h | 0.000004823 | +0.100% | $5K | $16 | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0217% | 8h | 0.000004822 | +0.079% | $41.8M | $499.1M | 50x | as long as short |
| Phemex u1000PEPEUSDT | +0.0238% | 8h | 0.000004819 | +0.025% | $2.3M | $6.4M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0240% | 1h | 0.000004818 | −0.004% | $552 | $2K | 10x | as long as short |
| BloFin PEPE-USDT | +0.0339% | 8h | 0.000004819 | +0.017% | $3.9M | $22.4M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0354% / S −0.0391% | 1h | 0.000004000 | −16.981% | $43K | — | 100x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0400% | 1h | 0.000004821 | +0.058% | $578K | $25.8M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0434% | 8h | 0.000004820 | +0.037% | $30K | $12K | 20x | as long as short |
| Injective PEPE/USDC PERP | +0.0437% | 1h | 0.000004814 | −0.087% | $4K | $102K | 12x | as long as short |
| Backpack kPEPE_USDC_PERPshort | +0.0597% | 1h | 0.000004819 | +0.019% | $91K | $602K | 15x | |
| BingX 1000PEPE-USDT | +0.0677% | 8h | 0.000004819 | +0.010% | — | $256.3M | — | as long as short |
| Extended 1000PEPE-USD | +0.0696% | 1h | 0.000004818 | −0.004% | $529K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0696% | 1h | 0.000004824 | +0.120% | $136K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0696% | 8h | 0.000004821 | +0.058% | $132.4M | $1.05B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0699% | 8h | 0.000004819 | +0.023% | $95.7M | $279.0M | 300x | as long as short |
| Aster 1000PEPEUSDT | +0.0702% | 8h | 0.000004823 | +0.090% | $1.5M | $7.3M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0832% | 1h | 0.000004822 | +0.078% | $185K | $845K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0996% | 1h | 0.000004823 | +0.100% | $82K | $94K | 25x | as long as short |
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Lighter 1000PEPE
ApeX Omni 1000PEPEUSDT
Paradex kPEPE-USD-PERP
OKX PEPE-USDT-SWAP
Phemex u1000PEPEUSDT
01 Exchange kPEPEUSD
BloFin PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Coinbase International 1000PEPE-PERP-INTX
Orderly PERP_1000PEPE_USDC
Injective PEPE/USDC PERP
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Aster 1000PEPEUSDT
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL