PEPE Perpetual Futures

The open-interest-weighted PEPE funding rate is -0.0056% per 8 hours, or -6.11% annualised. Negative funding means shorts pay longs. Across exchanges it ranges from -0.0183% on Bitget to +0.0169% on Crypto.com. Compare all funding rates.

PEPE perpetual open interest is $303.12M (68978.93B PEPE), down 1.99% in 24 hours. Gate.io holds the most at $108.81M. That is 16.82% of Pepe's market cap.

PEPE is an Ethereum-based memecoin named after Pepe the Frog. It launched in 2023 with no stated utility and was presented as a pure meme token. Its value rests on community attention and trading demand, which makes it one of the more sentiment-driven assets in crypto.

Pepe perps traded $338.09M in the last 24 hours, -35.79% on the day before. OKX leads with 46%, followed by MEXC ($75.35M) and Bitget ($22.64M).

Over the last 24 hours 48.2% of accounts are long and 51.8% short, a long/short ratio of 0.93. See the long/short ratio by exchange.

Some exchanges quote PEPE perps in units of 1,000 tokens because a single PEPE is worth a tiny fraction of a cent. A 1000PEPE contract price is simply 1,000 times the token price. Hyperliquid uses a similar convention with its kPEPE ticker, so prices across venues are only comparable after adjusting for unit size.

PEPE funding swings because positioning is driven by retail momentum. When the price rallies, leveraged longs crowd in and push funding sharply positive, and after a sell-off it can flip negative quickly. Comparing PEPE with other memecoins on the funding rates page helps show whether a move is specific to PEPE.

$464.1K of PEPE positions were liquidated in 24 hours, $126.1K longs and $338.0K shorts. OKX saw the most at $421.5K. See liquidations across the market.

PEPE often moves with DOGE and other large memecoins when risk appetite rises or falls across the sector. It can also break away on its own listings or social media momentum. Traders watch both the wider memecoin group and PEPE's own open interest to judge which force is in charge.

PEPE perpetual futures are derivatives contracts that track the price of PEPE and never expire. Instead of settling on a date, they use a funding rate to stay close to the spot price. You can go long or short with leverage without holding any PEPE.

Funding is a payment between longs and shorts. When PEPE perps trade above the index price, funding is positive and longs pay shorts. When they trade below it, shorts pay longs. Most exchanges settle every 8 hours and some, including Hyperliquid, settle every hour.

PEPE perps trade on 9 tracked exchanges. By volume the largest are OKX, MEXC and Bitget. Compare fees and features on the best perpetual exchanges.

Coinperps does not give trading advice. Funding, open interest, the long/short ratio and liquidations show how other traders are positioned, but crowded positioning can last longer than expected. Size positions so a liquidation would not hurt you.