Funding you earn now, next payment 00:00 UTC−0.0707%/8h= −77.4% APRnext payment −$7.07 per $10,000 · paid last 24h −0.013%
Price spread now: Bybit against Binance−0.314%7-day average −0.072% · you buy dearer than you sell
Net, funding: paid 7d − costs−$41as in the Funding arb table
Net, price: spread back to 7d avg − costs−$59as in the Price arb table
costs, in and out, $10k−$340.344% of the position
Funding, last 7 days−0.068%−$7 on $10k
+Price spread, last 7 days+0.251%+$25 · spread now −0.314%, 7d avg −0.072%
=Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Bybit is 0.242% cheaper against Binance than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.072%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.068% in total (about -3.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$7.07 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 | Binance 1000PEPEUSDT | 0.000004817 | 0.0807 | pay 0.0807% / 8h | 2h 38m | $127.6M | $1.01B | 75x |
| Short | Bybit 1000PEPEUSDT | 0.000004802 | 0.0100 | get 0.0100% / 8h | 2h 38m | $88.6M | $272.9M | 50x |
Binance 1000PEPEUSDT
Bybit 1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$148.53
- Price spread: −0.314% → −0.072%
- −$24.22
- Slippage, 4 orders
- −$13.38
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$207.13
- Costs to cover
- 0.344%
- Break-even
- never at this rate
Slippage from Binance: live order book, 6 min ago; Bybit: 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 Binance live order book, 6 min ago | 0.31 bp | 8.6 bp −$9 | 13.5 bp −$135 | 37.9 bp −$3,789 | doesn't fit |
| Sell Bybit live order book, 6 min ago | 1.03 bp | 8.0 bp −$8 | 20.0 bp −$200 | 48.5 bp −$4,849 | 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 | 0.000004804 | −0.283% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004809 | −0.183% | $14K | — | 150x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004812 | −0.113% | $56.5M | $69.5M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004814 | −0.071% | $59K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDTshort | +0.0100% | 8h | 0.000004802 | −0.314% | $88.6M | $272.9M | 50x | |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004805 | −0.258% | $148.1M | $61.5M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004807 | −0.212% | $23.9M | $52.2M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004852 | +0.708% | $713K | $3.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004858 | +0.835% | $27K | $336K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004825 | +0.151% | $2K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Hyperliquid kPEPE
Pacifica kPEPE
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 | 0.000004819 | +0.037% | $555K | $3.5M | 75x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0121% | 8h | 0.000004806 | −0.237% | $41.4M | $488.0M | 50x | as long as short |
| Bitget PEPEUSDT | +0.0170% | 8h | 0.000004813 | −0.084% | $43.5M | $151.9M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004812 | −0.108% | $7K | — | 15x | as long as short |
| BloFin PEPE-USDT | +0.0235% | 8h | 0.000004813 | −0.092% | $3.9M | $21.5M | 75x | as long as short |
| Lighter 1000PEPE | +0.0256% | 1h | 0.000004821 | +0.074% | $595K | $5.1M | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0297% | 1h | 0.000004821 | +0.082% | $100K | $621K | 15x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0318% / S −0.0217% | 1h | 0.000004000 | −16.968% | $52K | — | 100x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0349% | 8h | 0.000004809 | −0.170% | $5K | $16 | 20x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0368% | 8h | 0.000004809 | −0.169% | $30K | $10K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004819 | +0.033% | $590K | $25.4M | 50x | as long as short |
| Phemex u1000PEPEUSDT | +0.0482% | 8h | 0.000004817 | −0.011% | $2.3M | $6.3M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0508% | 1h | 0.000004816 | −0.030% | $2K | $9K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0555% | 1h | 0.000004842 | +0.510% | $4K | $92K | 12x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0629% | 1h | 0.000004856 | +0.801% | $100K | $758K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0661% | 1h | 0.000004813 | −0.091% | $179K | $866K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0760% | 1h | 0.000004817 | −0.008% | $3.9M | $12.9M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0766% | 8h | 0.000004810 | −0.160% | — | $2.3M | — | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0788% | 1h | 0.000004820 | +0.053% | $81K | $94K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000004812 | −0.113% | $136K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0805% | 8h | 0.000004814 | −0.075% | $89.4M | $288.7M | 300x | as long as short |
| Binance 1000PEPEUSDTlong | +0.0807% | 8h | 0.000004817 | long leg | $127.6M | $1.01B | 75x | |
| Extended 1000PEPE-USD | +0.0808% | 1h | 0.000004806 | −0.233% | $529K | $146K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0851% | 8h | 0.000004807 | −0.221% | $1.5M | $6.7M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.1280% | 1h | 0.000004818 | +0.012% | $552 | $2K | 10x | as long as short |
HTX PEPE-USDT
OKX PEPE-USDT-SWAP
Bitget PEPEUSDT
Reya kPEPERUSDPERP
BloFin PEPE-USDT
Lighter 1000PEPE
Backpack kPEPE_USDC_PERP
GMX PEPE/USD [ETH-USDC]
Paradex kPEPE-USD-PERP
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Phemex u1000PEPEUSDT
SoDEX 1000PEPE-USD
Injective PEPE/USDC PERP
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDC
Deribit 1000PEPE_USDC-PERPETUAL
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD