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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−0.0630%/8h= −68.9% APRnext payment −$6.30 per $10,000 · paid last 24h −0.089%
Price spread now: Bybit against Aster−0.073%7-day average −0.097% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$310.308% of the position
Long on AsterShort on Bybit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.225%−$23 on $10k
Price spread, last 7 days−0.063%−$6 · spread now −0.073%, 7d avg −0.097%
Together, before fees−0.288%+ Points / potential airdropAster: Stage 5 · farm board−$29 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Bybit is 0.024% dearer against Aster than usual: you sell high and buy low (spread −0.073% now, against its 7-day average of −0.097%): +$2 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.225% in total) that is about 18 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.225% in total (about -11.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongAster 1000PEPEUSDT0.0000047910.0730pay 0.0730% / 8h1h 00m$1.5M$7.2M50x
ShortBybit 1000PEPEUSDT0.0000047880.0100get 0.0100% / 8h1h 00m$86.6M$285.7M50x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Bybit against Aster. 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
−$132.22
Price spread: −0.073% → −0.097%
$2.41
Slippage, 4 orders
−$11.83
Fee Aster: 4 bp × 2 orders
−$8
Fee Bybit: 5.5 bp × 2 orders
−$11
Net
−$160.65
Costs to cover
0.308%
Break-even
never at this rate
Slippage from Aster: live order book, 3 min ago; Bybit: 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 Aster live order book, 3 min ago2.08 bp7.9 bp −$817.3 bp −$173doesn't fitdoesn't fit
Sell Bybit live order book, 4 min ago1.04 bp7.9 bp −$811.8 bp −$11832.7 bp −$3,274197.0 bp −$98.5K

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
dYdX PEPE-USD0.0000%1h0.000004791−0.009%$18K$9510xas long as short
gTrade (Gains Network) PEPE/USDL +0.0006% / S −0.0006%1h0.000004785−0.127%$14K—150xas long as short
Lighter 1000PEPE+0.0096%1h0.000004791−0.004%$665K$6.0M10xas long as short
Hyperliquid kPEPE+0.0100%1h0.000004783−0.171%$64.0M$85.3M10xas long as short
Pacifica kPEPE+0.0100%1h0.000004794+0.058%$59K$114K10xas long as short
Bybit 1000PEPEUSDTshort+0.0100%8h0.000004788−0.073%$86.6M$285.7M50x
Gate PEPE_USDT+0.0100%8h0.000004786−0.109%$150.2M$63.8M75xas long as short
KuCoin PEPEUSDTM+0.0100%8h0.000004788−0.069%$24.7M$54.1M75xas long as short
Bitget PEPEUSDT+0.0100%8h0.000004788−0.058%$42.2M$149.2M75xas long as short
Variational Omni 1000PEPE+0.0100%8h0.000004783−0.174%$548K$4.0M—as long as short
Show all 35 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
edgeX 1000PEPEUSDC+0.0100%4h0.000004802+0.220%$27K$346K20xas long as short
SunX 1000PEPE-USDT+0.0100%8h0.000004797+0.131%$1K$2.4M20xas long as short
SoDEX 1000PEPE-USD+0.0100%1h0.000004790−0.025%$2K$12K10xas long as short
HTX PEPE-USDT+0.0100%8h0.000004789−0.035%$542K$3.5M75xas long as short
Reya kPEPERUSDPERP+0.0189%1h0.000004789−0.055%$7K—15xas long as short
OKX PEPE-USDT-SWAP+0.0220%8h0.000004790−0.025%$41.3M$493.2M50xas long as short
Paradex kPEPE-USD-PERP+0.0241%8h0.000004797+0.131%$5K$1620xas long as short
Phemex u1000PEPEUSDT+0.0306%8h0.000004791+0.006%$2.3M$6.4M50xas long as short
BloFin PEPE-USDT+0.0340%8h0.000004787−0.088%$3.9M$22.2M75xas long as short
GMX PEPE/USD [ETH-USDC]L +0.0341% / S −0.0372%1h0.000004000−16.514%$42K—100xas long as short
01 Exchange kPEPEUSD+0.0384%1h0.000004794+0.058%$549$2K10xas long as short
ApeX Omni 1000PEPEUSDT+0.0420%1h0.000004802+0.225%$102K$762K25xas long as short
Coinbase International 1000PEPE-PERP-INTX+0.0448%1h0.000004791−0.004%$584K$25.6M50xas long as short
Orderly PERP_1000PEPE_USDC+0.0448%8h0.000004790−0.025%$29K$11K20xas long as short
Deribit 1000PEPE_USDC-PERPETUAL+0.0586%1h0.000004790−0.025%$81K$94K25xas long as short
Backpack kPEPE_USDC_PERP+0.0612%1h0.000004795+0.081%$92K$616K15xas long as short
BingX 1000PEPE-USDT+0.0706%8h0.000004790−0.025%—$256.4M—as long as short
Extended 1000PEPE-USD+0.0720%1h0.000004788−0.057%$526K$148K25xas long as short
Aevo 1000PEPE-PERP+0.0720%1h0.000004798+0.142%$136K—3xas long as short
Binance 1000PEPEUSDT+0.0720%8h0.000004789−0.050%$131.1M$1.05B75xas long as short
MEXC PEPE_USDT+0.0725%8h0.000004792+0.008%$92.7M$286.7M300xas long as short
Aster 1000PEPEUSDTlong+0.0730%8h0.000004791long leg$1.5M$7.2M50x
Nado kPEPE-PERP+0.0735%1h0.000004790−0.034%$183K$845K10xas long as short
Injective PEPE/USDC PERP+0.0873%1h0.000004805+0.288%$4K$103K12xas long as short
Kraken Futures PF_PEPEUSD+0.1331%1h0.000004792+0.010%$3.9M$13.4M50xas long as short