Funding you earn now, next payment 01:00 UTC−0.1578%/8h= −172.8% APRnext payment −$1.97 per $10,000 · paid last 24h +0.011%
Price spread now: Lighter against Hyperliquid−0.294%7-day average −0.082% · you buy dearer than you sell
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$290.295% of the position
Funding, last 7 days−0.276%−$28 on $10k
+Price spread, last 7 days+0.039%+$4 · spread now −0.294%, 7d avg −0.082%
=Together, before fees−0.237%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$47 a day on $10k at the current rate, and Lighter is 0.212% cheaper against Hyperliquid than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of −0.082%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.276% in total (about -14.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.97 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 | Hyperliquid kPEPE | 0.000005103 | 0.2162 | pay 0.0270% / 1h | 8m 08s | $56.7M | $132.6M | 10x |
| Short | Lighter 1000PEPE | 0.000005088 | 0.0584 | get 0.0073% / 1h | 8m 08s | $669K | $6.9M | 10x |
Hyperliquid kPEPE
Lighter 1000PEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$331.48
- Price spread: −0.294% → −0.082%
- −$21.18
- Slippage, 4 orders
- −$20.49
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$382.16
- Costs to cover
- 0.295%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 6 min ago; Lighter: 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 Hyperliquid live order book, 6 min ago | 1.97 bp | 8.4 bp −$8 | 13.1 bp −$131 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 5 min ago | 0.99 bp | 2.2 bp −$2 | 16.5 bp −$165 | 51.1 bp −$5,111 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_PEPEUSD | −0.0115% | 1h | 0.000005084 | −0.372% | $4.0M | $14.3M | 50x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005061 | −0.819% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005080 | −0.451% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005067 | −0.705% | $60K | $120K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005083 | −0.398% | $95.8M | $310.4M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005080 | −0.451% | $163.2M | $68.9M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005082 | −0.415% | $25.9M | $57.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005082 | −0.412% | $45.3M | $155.1M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005026 | −1.515% | $588K | $4.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005026 | −1.510% | $52K | $379K | 20x | as long as short |
Kraken Futures PF_PEPEUSD
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDCShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005089 | −0.276% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005084 | −0.372% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005066 | −0.729% | $567K | $3.5M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0100% | 8h | 0.000005079 | −0.476% | $2.4M | $6.8M | 50x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005080 | −0.445% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0193% | 8h | 0.000005082 | −0.412% | $45.2M | $549.4M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0236% | 1h | 0.000005028 | −1.470% | $110K | $753K | 25x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0273% | 8h | 0.000005082 | −0.421% | $31K | $18K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0287% | 8h | 0.000005059 | −0.853% | $6K | $16 | 20x | as long as short |
| BloFin PEPE-USDT | +0.0315% | 8h | 0.000005074 | −0.568% | $4.2M | $24.5M | 75x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0368% | 1h | 0.000005086 | −0.333% | $605K | $28.4M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0459% | 8h | 0.000005082 | −0.417% | — | $257.6M | — | as long as short |
| Aevo 1000PEPE-PERP | +0.0472% | 1h | 0.000005072 | −0.607% | $143K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0475% | 8h | 0.000005086 | −0.329% | $100.8M | $291.6M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0476% | 8h | 0.000005085 | −0.348% | $141.0M | $1.13B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0480% | 1h | 0.000005085 | −0.355% | $558K | $199K | 25x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0496% / S −0.0839% | 1h | 0.000005000 | −2.018% | $47K | — | 100x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0537% | 1h | 0.000005087 | −0.314% | $62K | $114K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0537% | 8h | 0.000005075 | −0.554% | $1.5M | $7.5M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0555% | 1h | 0.000005074 | −0.562% | $190K | $861K | 10x | as long as short |
| Lighter 1000PEPEshort | +0.0584% | 1h | 0.000005088 | −0.294% | $669K | $6.9M | 10x | |
| Injective PEPE/USDC PERP | +0.0636% | 1h | 0.000005063 | −0.784% | $4K | $102K | 12x | as long as short |
| 01 Exchange kPEPEUSD | +0.0640% | 1h | 0.000005079 | −0.470% | $1K | $2K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0643% | 1h | 0.000005086 | −0.341% | $96K | $601K | 15x | as long as short |
| Hyperliquid kPEPElong | +0.2162% | 1h | 0.000005103 | long leg | $56.7M | $132.6M | 10x |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Phemex u1000PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
ApeX Omni 1000PEPEUSDT
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
GMX PEPE/USD [ETH-USDC]
Deribit 1000PEPE_USDC-PERPETUAL
Aster 1000PEPEUSDT
Nado kPEPE-PERP
Injective PEPE/USDC PERP
01 Exchange kPEPEUSD
Backpack kPEPE_USDC_PERP