Funding you earn now, next payment 06:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.078%
Price spread now: Coinbase International against OKX−0.097%7-day average −0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$49as in the Price arb table
costs, in and out, $10k−$400.399% of the position
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)+0.058%+$6 · spread now −0.097%, 7d avg −0.003%
=Funding pays, the price is against you. Coinbase International is 0.094% cheaper against OKX than usual: you would sell low and buy high (spread −0.097% now, against its 7-day average of −0.003%). If the spread goes back, that is −$9 on $10k: about 36 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.050% in total) that is about 13 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.050% in total (about 2.6% 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 | OKX PEPE-USDT-SWAP | 0.000005152 | 0.0416 | pay 0.0416% / 8h | 1h 48m | $48.4M | $723.5M | 50x |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000005147 | 0.0624 | get 0.0078% / 1h | 48m 36s | $667K | $38.6M | 50x |
OKX PEPE-USDT-SWAP
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against OKX. 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
- $43.74
- Price spread: −0.097% → −0.003%
- −$9.37
- Slippage, 4 orders
- −$19.94
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$5.57
- Costs to cover
- 0.399%
- Break-even
- 7.9 days
Slippage from OKX: live order book, 6 min ago; Coinbase International: live order book, 6 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 OKX live order book, 6 min ago | 0.97 bp | 6.2 bp −$6 | 10.5 bp −$105 | 33.3 bp −$3,330 | doesn't fit |
| Sell Coinbase International live order book, 6 min ago | 4.84 bp | 12.7 bp −$13 | 17.2 bp −$172 | 54.4 bp −$5,441 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective PEPE/USDC PERP | −0.0016% | 1h | 0.000005161 | +0.175% | $10K | $119K | 12x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000005158 | +0.108% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005145 | −0.140% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005160 | +0.155% | $60K | $180K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005155 | +0.058% | $101.4M | $414.7M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005155 | +0.058% | $164.1M | $96.0M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005159 | +0.140% | $25.9M | $72.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005155 | +0.051% | $615K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005165 | +0.260% | $28K | $540K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005154 | +0.045% | $2K | $2.6M | 20x | as long as short |
Injective PEPE/USDC PERP
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005149 | −0.058% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005149 | −0.054% | $594K | $4.2M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005146 | −0.122% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0303% | 8h | 0.000005152 | +0.002% | $46.1M | $214.2M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0380% | 8h | 0.000005153 | +0.012% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAPlong | +0.0416% | 8h | 0.000005152 | long leg | $48.4M | $723.5M | 50x | |
| Backpack kPEPE_USDC_PERP | +0.0433% | 1h | 0.000005156 | +0.078% | $73K | $849K | 15x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0454% | 1h | 0.000005146 | −0.116% | $4.7M | $16.8M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0508% | 8h | 0.000005159 | +0.135% | $6K | — | 20x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0527% | 1h | 0.000005150 | −0.039% | $73K | $127K | 25x | as long as short |
| BloFin PEPE-USDT | +0.0542% | 8h | 0.000005145 | −0.136% | $4.5M | $29.5M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0587% | 8h | 0.000005146 | −0.109% | $2.4M | $8.0M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0624% | 1h | 0.000005147 | −0.097% | $667K | $38.6M | 50x | |
| ApeX Omni 1000PEPEUSDT | +0.0629% | 1h | 0.000005167 | +0.291% | $156K | $820K | 25x | as long as short |
| Lighter 1000PEPE | +0.0640% | 1h | 0.000005163 | +0.214% | $621K | $9.0M | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.0656% | 1h | 0.000005146 | −0.116% | $621 | $3K | 10x | as long as short |
| Nado kPEPE-PERP | +0.0711% | 1h | 0.000005164 | +0.233% | $164K | $956K | 10x | as long as short |
| BingX 1000PEPE-USDT | +0.0743% | 8h | 0.000005150 | −0.033% | — | $217.5M | — | as long as short |
| Binance 1000PEPEUSDT | +0.0774% | 8h | 0.000005165 | +0.243% | $142.6M | $1.45B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0776% | 1h | 0.000005148 | −0.074% | $547K | $286K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0776% | 1h | 0.000005152 | 0.000% | $146K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0778% | 8h | 0.000005157 | +0.097% | $98.5M | $302.5M | 300x | as long as short |
| Aster 1000PEPEUSDT | +0.0791% | 8h | 0.000005159 | +0.132% | $1.8M | $11.6M | 50x | as long as short |
| Hyperliquid kPEPE | +0.0949% | 1h | 0.000005163 | +0.214% | $55.2M | $154.6M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1132% / S −0.2351% | 1h | 0.000005000 | −2.950% | $63K | — | 100x | as long as short |
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
Backpack kPEPE_USDC_PERP
Kraken Futures PF_PEPEUSD
Paradex kPEPE-USD-PERP
Deribit 1000PEPE_USDC-PERPETUAL
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
Lighter 1000PEPE
01 Exchange kPEPEUSD
Nado kPEPE-PERP
BingX 1000PEPE-USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Aster 1000PEPEUSDT
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]