Funding you earn now, next payment 02:00 UTC−0.1695%/8h= −185.6% APRpaid last 24h −0.058%
Price spread now: Binance against Hyperliquid−0.156%7-day average −0.062% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$320.325% of the position
Funding, last 7 days−0.400%−$40 on $10k
+Price spread, last 7 days+0.123%+$12 · spread now −0.156%, 7d avg −0.062%
=Together, before fees−0.277%+ Points / potential airdropHyperliquid: Season 2 · farm board−$28 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$51 a day on $10k at the current rate, and Binance is 0.093% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.062%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.400% in total (about -20.8% 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 | Hyperliquid kPEPE | 0.000005071 | 0.2221 | pay 0.0278% / 1h | 25m 09s | $56.1M | $136.0M | 10x |
| Short | Binance 1000PEPEUSDT | 0.000005063 | 0.0526 | get 0.0526% / 8h | 6h 25m | $143.0M | $1.17B | 75x |
Hyperliquid kPEPE
Binance 1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Hyperliquid. 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
- −$355.92
- Price spread: −0.156% → −0.062%
- −$9.34
- Slippage, 4 orders
- −$13.46
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$397.72
- Costs to cover
- 0.325%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Binance: live order book, 4 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 Hyperliquid live order book, 9 min ago | 0.99 bp | 8.9 bp −$9 | 21.3 bp −$213 | doesn't fit | doesn't fit |
| Sell Binance live order book, 4 min ago | 0.10 bp | 7.6 bp −$8 | 12.7 bp −$127 | 42.3 bp −$4,229 | doesn't fit |
PEPE on 34 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 | 0.000005048 | −0.451% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005061 | −0.193% | $14K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005058 | −0.256% | $61K | $125K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005057 | −0.282% | $98.2M | $323.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005058 | −0.256% | $161.4M | $70.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005060 | −0.217% | $25.0M | $60.6M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005063 | −0.166% | $46.9M | $160.7M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005092 | +0.407% | $624K | $4.5M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005086 | +0.294% | $34K | $413K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005066 | −0.089% | $2K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005060 | −0.215% | $570K | $3.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005065 | −0.128% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0232% | 8h | 0.000005063 | −0.158% | $45.2M | $568.1M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0278% | 8h | 0.000005063 | −0.160% | $33K | $23K | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0286% | 8h | 0.000005060 | −0.211% | $2.4M | $6.9M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0321% | 1h | 0.000005065 | −0.118% | $107K | $746K | 25x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0424% | 1h | 0.000005067 | −0.079% | $627K | $29.6M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0491% | 8h | 0.000005060 | −0.223% | — | $258.9M | — | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0511% / S −0.0536% | 1h | 0.000005000 | −1.400% | $56K | — | 100x | as long as short |
| Aevo 1000PEPE-PERP | +0.0520% | 1h | 0.000005099 | +0.552% | $144K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0526% | 8h | 0.000005061 | −0.189% | $94.7M | $290.6M | 300x | as long as short |
| Binance 1000PEPEUSDTshort | +0.0526% | 8h | 0.000005063 | −0.156% | $143.0M | $1.17B | 75x | |
| Extended 1000PEPE-USD | +0.0528% | 1h | 0.000005062 | −0.176% | $557K | $199K | 25x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0546% | 8h | 0.000005058 | −0.258% | $6K | $16 | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0575% | 1h | 0.000005065 | −0.118% | $2K | $12K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0629% | 8h | 0.000005064 | −0.135% | $1.7M | $8.2M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0632% | 1h | 0.000005067 | −0.074% | $182K | $881K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0738% | 1h | 0.000005065 | −0.118% | $61K | $114K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0823% | 1h | 0.000005063 | −0.161% | $4.0M | $14.5M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0909% | 1h | 0.000005098 | +0.532% | $4K | $102K | 12x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0929% | 1h | 0.000005063 | −0.168% | $101K | $617K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0976% | 1h | 0.000005061 | −0.197% | $1K | $2K | 10x | as long as short |
| Lighter 1000PEPE | +0.1520% | 1h | 0.000005073 | +0.039% | $1.1M | $7.4M | 10x | as long as short |
| Hyperliquid kPEPElong | +0.2221% | 1h | 0.000005071 | long leg | $56.1M | $136.0M | 10x |
HTX PEPE-USDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
Phemex u1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Extended 1000PEPE-USD
Paradex kPEPE-USD-PERP
SoDEX 1000PEPE-USD
Aster 1000PEPEUSDT
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL
Kraken Futures PF_PEPEUSD
Injective PEPE/USDC PERP
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Lighter 1000PEPE