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Funding arb · Price arb /

PEPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 00:00 UTC−0.0504%/8h= −55.2% APRpaid last 24h +0.094%
Price spread now: Lighter against MEXC+0.062%7-day average −0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$3as in the Funding arb table
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$170.172% of the position
Long on MEXCShort on Lighter
What this pair did over the last
the charts below follow
Funding, last 7 days+0.139%+$14 on $10k
Price spread, last 7 days−0.292%−$29 · spread now +0.062%, 7d avg −0.027%
Together, before fees−0.153%+ Points / potential airdropLighter: Season 3 · farm board−$15 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.089% dearer against MEXC than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of −0.027%): +$9 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 14 hours. Mind the row above: over the last 7 days funding on this pair paid +0.139%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.139% in total (about 7.2% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongMEXC PEPE_USDT0.0000048100.0680pay 0.0680% / 8h43m 52s$93.4M$279.9M300x
ShortLighter 1000PEPE0.0000048130.0176get 0.0022% / 1h43m 52s$627K$6.3M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. Falling: the short leg gains. Rising: it loses.
latest
Price spreadloading…

Funding on every exchange

click an exchange to add or hide it
latest
How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Funding earned
−$105.84
Price spread: +0.062% → −0.027%
$8.89
Slippage, 4 orders
−$17.24
Fee MEXC: 0 bp × 2 orders
$0
Fee Lighter: 0 bp × 2 orders
$0
Net
−$114.19
Costs to cover
0.172%
Break-even
never at this rate
Slippage from MEXC: live order book, 5 min ago; Lighter: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy MEXC live order book, 5 min ago0.10 bp0.2 bp $012.1 bp −$12147.0 bp −$4,70574.6 bp −$37.3K
Sell Lighter live order book, 4 min ago4.16 bp12.5 bp −$1326.2 bp −$26256.1 bp −$5,611doesn't fit

PEPE on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Hyperliquid kPEPE−0.0249%1h0.000004804−0.125%$67.4M$88.9M10xas long as short
dYdX PEPE-USD0.0000%1h0.000004810−0.006%$18K$9510xas long as short
gTrade (Gains Network) PEPE/USDL +0.0006% / S −0.0006%1h0.000004809−0.017%$14K—150xas long as short
Kraken Futures PF_PEPEUSD+0.0066%1h0.0000048100.000%$3.9M$13.6M50xas long as short
Pacifica kPEPE+0.0100%1h0.0000048100.000%$59K$115K10xas long as short
Bybit 1000PEPEUSDT+0.0100%8h0.000004809−0.021%$86.5M$288.6M50xas long as short
Gate PEPE_USDT+0.0100%8h0.000004808−0.042%$150.5M$64.1M75xas long as short
KuCoin PEPEUSDTM+0.0100%8h0.000004810+0.006%$24.6M$54.3M75xas long as short
Bitget PEPEUSDT+0.0100%8h0.000004811+0.012%$42.4M$149.7M75xas long as short
Variational Omni 1000PEPE+0.0100%8h0.000004829+0.393%$591K$4.1M—as long as short
Show all 35 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX 1000PEPEUSDC+0.0100%4h0.000004811+0.030%$26K$348K20xas long as short
ApeX Omni 1000PEPEUSDT+0.0100%1h0.000004803−0.146%$101K$762K25xas long as short
SunX 1000PEPE-USDT+0.0100%8h0.000004824+0.285%$1K$2.4M20xas long as short
SoDEX 1000PEPE-USD+0.0100%1h0.000004812+0.042%$2K$12K10xas long as short
HTX PEPE-USDT+0.0100%8h0.000004812+0.044%$544K$3.5M75xas long as short
Lighter 1000PEPEshort+0.0176%1h0.000004813+0.062%$627K$6.3M10x
Reya kPEPERUSDPERP+0.0189%1h0.000004813+0.063%$7K—15xas long as short
Paradex kPEPE-USD-PERP+0.0206%8h0.000004815+0.113%$5K$1620xas long as short
OKX PEPE-USDT-SWAP+0.0213%8h0.000004811+0.021%$41.7M$498.6M50xas long as short
Phemex u1000PEPEUSDT+0.0218%8h0.000004810−0.010%$2.3M$6.4M50xas long as short
01 Exchange kPEPEUSD+0.0224%1h0.000004817+0.146%$552$2K10xas long as short
BloFin PEPE-USDT+0.0336%8h0.000004822+0.249%$3.9M$22.4M75xas long as short
GMX PEPE/USD [ETH-USDC]L +0.0363% / S −0.0406%1h0.000004000−16.840%$43K—100xas long as short
Coinbase International 1000PEPE-PERP-INTX+0.0400%1h0.000004814+0.083%$570K$25.8M50xas long as short
Orderly PERP_1000PEPE_USDC+0.0418%8h0.000004814+0.083%$30K$12K20xas long as short
Injective PEPE/USDC PERP+0.0437%1h0.000004831+0.437%$4K$102K12xas long as short
Backpack kPEPE_USDC_PERP+0.0511%1h0.000004812+0.035%$91K$601K15xas long as short
Deribit 1000PEPE_USDC-PERPETUAL+0.0582%1h0.000004813+0.062%$81K$94K25xas long as short
BingX 1000PEPE-USDC+0.0668%8h0.000004810+0.002%—$2.3M—as long as short
Binance 1000PEPEUSDT+0.0677%8h0.000004811+0.018%$131.9M$1.05B75xas long as short
Extended 1000PEPE-USD+0.0680%1h0.000004810−0.002%$529K$148K25xas long as short
MEXC PEPE_USDTlong+0.0680%8h0.000004810long leg$93.4M$279.9M300x
Aevo 1000PEPE-PERP+0.0680%1h0.000004813+0.062%$136K—3xas long as short
Aster 1000PEPEUSDT+0.0683%8h0.000004812+0.049%$1.5M$7.2M50xas long as short
Nado kPEPE-PERP+0.0806%1h0.000004818+0.159%$184K$847K10xas long as short