Funding you earn now, next payment 07:00 UTC−0.0242%/8h= −26.5% APRnext payment −$0.30 per $10,000 · paid last 24h −0.010%
Price spread now: Coinbase International against Nado+0.038%7-day average −0.005% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$460.462% of the position
Funding, last 4 days (all we have)−0.013%−$1 on $10k
+Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.038%, 7d avg −0.005%
=Together, before fees−0.085%+ Points / potential airdropNado: Active · farm board−$8 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.043% dearer against Nado than usual: you sell high and buy low (spread +0.038% now, against its 7-day average of −0.005%): +$4 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 4 days (−0.013% in total) that is about 12 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.013% in total (about -1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.30 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 | Nado kPEPE-PERP | 0.000005134 | 0.0786 | pay 0.0098% / 1h | 52m 19s | $164K | $954K | 10x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000005136 | 0.0544 | get 0.0068% / 1h | 52m 19s | $685K | $38.9M | 50x |
Nado kPEPE-PERP
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Nado. 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
- −$50.73
- Price spread: +0.038% → −0.005%
- $4.32
- Slippage, 4 orders
- −$29.23
- Fee Nado: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$92.64
- Costs to cover
- 0.462%
- Break-even
- never at this rate
Slippage from Nado: live order book, 51 min ago; Coinbase International: live order book, 2 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 Nado live order book, 51 min ago | 2.90 bp | 11.6 bp −$12 | 35.2 bp −$352 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 2 min ago | 3.89 bp | 14.1 bp −$14 | 19.1 bp −$191 | 52.4 bp −$5,245 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005123 | −0.214% | $19K | $649 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005126 | −0.150% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005130 | −0.078% | $60K | $182K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005136 | +0.035% | $100.1M | $422.8M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005126 | −0.156% | $162.8M | $97.8M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005132 | −0.048% | $608K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005162 | +0.544% | $28K | $543K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000005159 | +0.486% | $150K | $831K | 25x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005138 | +0.085% | $1K | $2.7M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005131 | −0.063% | $597K | $4.2M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
ApeX Omni 1000PEPEUSDT
SunX 1000PEPE-USDT
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin PEPEUSDTM | +0.0114% | 8h | 0.000005134 | −0.004% | $26.5M | $72.9M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0180% | 1h | 0.000005137 | +0.058% | $2K | $11K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005132 | −0.038% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0281% | 8h | 0.000005137 | +0.060% | $46.5M | $217.3M | 75x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0355% | 1h | 0.000005126 | −0.152% | $76K | $869K | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0391% | 8h | 0.000005137 | +0.058% | $47.2M | $735.5M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0404% | 8h | 0.000005135 | +0.027% | $34K | $26K | 20x | as long as short |
| Injective PEPE/USDC PERP | +0.0404% | 1h | 0.000005162 | +0.545% | $8K | $120K | 12x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0505% | 8h | 0.000005128 | −0.119% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0515% | 8h | 0.000005124 | −0.195% | $4.4M | $29.8M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0526% | 8h | 0.000005139 | +0.101% | $2.4M | $8.1M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0544% | 1h | 0.000005136 | +0.038% | $685K | $38.9M | 50x | |
| Lighter 1000PEPE | +0.0552% | 1h | 0.000005135 | +0.019% | $612K | $9.0M | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.0696% | 1h | 0.000005136 | +0.038% | $619 | $2K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0715% | 1h | 0.000005134 | −0.001% | $4.7M | $16.6M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0720% | 8h | 0.000005128 | −0.127% | — | $2.3M | — | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0725% | 1h | 0.000005134 | 0.000% | $73K | $127K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0731% | 8h | 0.000005130 | −0.081% | $1.7M | $11.7M | 50x | as long as short |
| Extended 1000PEPE-USD | +0.0744% | 1h | 0.000005135 | +0.024% | $539K | $285K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0744% | 1h | 0.000005139 | +0.097% | $145K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0747% | 8h | 0.000005134 | +0.009% | $99.9M | $303.0M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0748% | 8h | 0.000005138 | +0.069% | $141.2M | $1.48B | 75x | as long as short |
| Nado kPEPE-PERPlong | +0.0786% | 1h | 0.000005134 | long leg | $164K | $954K | 10x | |
| Hyperliquid kPEPE | +0.0900% | 1h | 0.000005137 | +0.058% | $53.4M | $156.9M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1132% / S −0.1782% | 1h | 0.000005000 | −2.611% | $69K | — | 100x | as long as short |
KuCoin PEPEUSDTM
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Backpack kPEPE_USDC_PERP
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
Injective PEPE/USDC PERP
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Lighter 1000PEPE
01 Exchange kPEPEUSD
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDC
Deribit 1000PEPE_USDC-PERPETUAL
Aster 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]