Funding you earn now, next payment 22:00 UTC−0.0275%/8h= −30.1% APRpaid last 24h −0.015%
Price spread now: Phemex against ApeX Omni+0.778%77s7-day average +0.061% · you sell dearer than you buy
Net, funding: paid 7d − costs−$75as 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−$660.660% of the position
Funding, last 7 days−0.085%−$9 on $10k
+Price spread, last 3 days (all we have)−0.555%−$56 · spread now +0.778%, 7d avg +0.061%
=The price spread pays, funding is against you. Phemex is 0.716% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.778% now, against its 7-day average of +0.061%): +$72 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 8.7 days. At the pace of the last 7 days (−0.085% in total) that is about 59 days. The two prices were read 77 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 -0.085% in total (about -4.4% 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 | ApeX Omni 1000PEPEUSDT | 0.000004809 | 0.0736 | pay 0.0092% / 1h | 21m 53s | $100K | $760K | 25x |
| Short | Phemex u1000PEPEUSDT | 0.000004846 | 0.0462 | get 0.0462% / 8h | 2h 21m | $2.3M | $6.3M | 50x |
ApeX Omni 1000PEPEUSDT
Phemex u1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against ApeX Omni. 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
- −$57.65
- Price spread: +0.778% → +0.061%
- $71.64
- Slippage, 4 orders
- −$44.01
- Fee ApeX Omni: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$52.02
- Costs to cover
- 0.660%
- Break-even
- from the start
Slippage from ApeX Omni: live order book, 67 min ago; Phemex: 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 ApeX Omni live order book, 67 min ago | 5.79 bp | 13.6 bp −$14 | 89.3 bp −$893 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 3.91 bp | 23.2 bp −$23 | 38.1 bp −$381 | doesn't fit | 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 | 0.000004845 | +0.747% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004843 | +0.705% | $14K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004845 | +0.749% | $58.0M | $71.3M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004847 | +0.790% | $60K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004852 | +0.894% | $88.6M | $274.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004849 | +0.832% | $151.4M | $62.1M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004853 | +0.923% | $25.2M | $53.1M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004837 | +0.589% | $705K | $3.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004818 | +0.186% | $27K | $337K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004856 | +0.969% | $1K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Hyperliquid kPEPE
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 | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004858 | +1.015% | $559K | $3.5M | 75x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0151% | 8h | 0.000004853 | +0.915% | $41.6M | $490.0M | 50x | as long as short |
| Bitget PEPEUSDT | +0.0179% | 8h | 0.000004851 | +0.878% | $42.9M | $152.0M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004852 | +0.899% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0268% | 8h | 0.000004854 | +0.936% | $3.9M | $21.9M | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0318% / S −0.0217% | 1h | 0.000004000 | −16.823% | $52K | — | 100x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0397% | 8h | 0.000004853 | +0.915% | $30K | $11K | 20x | as long as short |
| Phemex u1000PEPEUSDTshort | +0.0462% | 8h | 0.000004846 | +0.778% | $2.3M | $6.3M | 50x | |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004843 | +0.707% | $580K | $25.3M | 50x | as long as short |
| Lighter 1000PEPE | +0.0472% | 1h | 0.000004853 | +0.915% | $618K | $5.2M | 10x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0473% | 8h | 0.000004850 | +0.856% | $5K | $16 | 20x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004866 | +1.185% | $4K | $110K | 12x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0659% | 1h | 0.000004849 | +0.838% | $93K | $623K | 15x | as long as short |
| Nado kPEPE-PERP | +0.0692% | 1h | 0.000004854 | +0.941% | $192K | $847K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDTlong | +0.0736% | 1h | 0.000004809 | long leg | $100K | $760K | 25x | |
| Kraken Futures PF_PEPEUSD | +0.0755% | 1h | 0.000004849 | +0.827% | $3.9M | $13.0M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0782% | 1h | 0.000004851 | +0.873% | $82K | $94K | 25x | as long as short |
| BingX 1000PEPE-USDC | +0.0784% | 8h | 0.000004855 | +0.948% | — | $2.3M | — | as long as short |
| SoDEX 1000PEPE-USD | +0.0818% | 1h | 0.000004849 | +0.832% | $2K | $9K | 10x | as long as short |
| Aevo 1000PEPE-PERP | +0.0848% | 1h | 0.000004855 | +0.957% | $137K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0849% | 8h | 0.000004860 | +1.067% | $91.7M | $290.8M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0853% | 8h | 0.000004854 | +0.934% | $129.2M | $1.02B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0856% | 1h | 0.000004846 | +0.770% | $534K | $147K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0891% | 8h | 0.000004852 | +0.889% | $1.5M | $6.8M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.1240% | 1h | 0.000004859 | +1.040% | $557 | $2K | 10x | as long as short |
HTX PEPE-USDT
OKX PEPE-USDT-SWAP
Bitget PEPEUSDT
Reya kPEPERUSDPERP
BloFin PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Lighter 1000PEPE
Paradex kPEPE-USD-PERP
Injective PEPE/USDC PERP
Backpack kPEPE_USDC_PERP
Nado kPEPE-PERP
Kraken Futures PF_PEPEUSD
Deribit 1000PEPE_USDC-PERPETUAL
BingX 1000PEPE-USDC
SoDEX 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD