Funding you earn now, next payment 02:00 UTC+0.1317%/8h= +144.2% APRnext payment +$1.65 per $10,000 · paid last 24h −0.007%
Price spread now: Hyperliquid against Injective+0.079%93s7-day average −0.463% · you sell dearer than you buy
Net, funding: paid 7d − costs−$94as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$990.990% of the position
Funding, last 7 days+0.051%+$5 on $10k
+Price spread, last 3 days (all we have)−0.133%−$13 · spread now +0.079%, 7d avg −0.463%
=Together, before fees−0.082%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$40 a day on $10k at the current rate, and Hyperliquid is 0.542% dearer against Injective than usual: you sell high and buy low: +$54 more if the spread goes back to its 7-day average of −0.463%. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.65 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 | Injective PEPE/USDC PERP | 0.000005070 | 0.0909 | pay 0.0114% / 1h | 25m 48s | $4K | $102K | 12x |
| Short | Hyperliquid kPEPE | 0.000005074 | 0.2226 | get 0.0278% / 1h | 25m 48s | $56.1M | $135.9M | 10x |
Injective PEPE/USDC PERP
Hyperliquid kPEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Injective. 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
- $276.59
- Price spread: +0.079% → −0.463%
- $54.23
- Slippage, 4 orders
- −$89.94
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $231.85
- Costs to cover
- 0.990%
- Break-even
- 1.1 days
Slippage from Injective: live order book, 43 min ago; Hyperliquid: live order book, 8 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 Injective live order book, 43 min ago | 22.64 bp | 59.9 bp −$60 | doesn't fit | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 0.99 bp | 7.6 bp −$8 | 10.2 bp −$102 | doesn't fit | 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 | 0.000005107 | +0.723% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005091 | +0.420% | $14K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005113 | +0.848% | $62K | $125K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005059 | −0.217% | $98.3M | $322.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005064 | −0.118% | $161.5M | $70.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005074 | +0.087% | $25.1M | $60.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005065 | −0.103% | $46.9M | $160.6M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005092 | +0.427% | $624K | $4.5M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005065 | −0.093% | $27K | $406K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005100 | +0.588% | $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 | 0.000005092 | +0.444% | $576K | $3.6M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0163% | 8h | 0.000005095 | +0.491% | $2.4M | $6.9M | 50x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005100 | +0.589% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0232% | 8h | 0.000005066 | −0.079% | $45.2M | $568.3M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0277% | 8h | 0.000005100 | +0.602% | $33K | $23K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0321% | 1h | 0.000005065 | −0.099% | $107K | $746K | 25x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0339% | 1h | 0.000005098 | +0.552% | $62K | $114K | 25x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0424% | 1h | 0.000005103 | +0.651% | $660K | $29.5M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0486% | 8h | 0.000005063 | −0.128% | — | $2.3M | — | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0511% / S −0.0869% | 1h | 0.000005000 | −1.381% | $48K | — | 100x | as long as short |
| MEXC PEPE_USDT | +0.0520% | 8h | 0.000005067 | −0.061% | $95.0M | $290.5M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0520% | 1h | 0.000005110 | +0.789% | $144K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0526% | 8h | 0.000005066 | −0.078% | $143.1M | $1.17B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0528% | 1h | 0.000005074 | +0.076% | $560K | $199K | 25x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0548% | 8h | 0.000005110 | +0.795% | $6K | $16 | 20x | as long as short |
| Nado kPEPE-PERP | +0.0595% | 1h | 0.000005104 | +0.676% | $183K | $881K | 10x | as long as short |
| SoDEX 1000PEPE-USD | +0.0599% | 1h | 0.000005098 | +0.552% | $2K | $12K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0629% | 8h | 0.000005087 | +0.339% | $1.7M | $8.2M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0817% | 1h | 0.000005095 | +0.489% | $4.0M | $14.5M | 50x | as long as short |
| Injective PEPE/USDC PERPlong | +0.0909% | 1h | 0.000005070 | long leg | $4K | $102K | 12x | |
| Backpack kPEPE_USDC_PERP | +0.0943% | 1h | 0.000005084 | +0.268% | $101K | $616K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0984% | 1h | 0.000005117 | +0.927% | $1K | $2K | 10x | as long as short |
| Lighter 1000PEPE | +0.1520% | 1h | 0.000005107 | +0.730% | $1.1M | $7.4M | 10x | as long as short |
| Hyperliquid kPEPEshort | +0.2226% | 1h | 0.000005074 | +0.079% | $56.1M | $135.9M | 10x |
HTX PEPE-USDT
Phemex u1000PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
ApeX Omni 1000PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDC
GMX PEPE/USD [ETH-USDC]
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Paradex kPEPE-USD-PERP
Nado kPEPE-PERP
SoDEX 1000PEPE-USD
Aster 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Lighter 1000PEPE