Funding you earn now, next payment 08:00 UTC−0.0243%/8h= −26.6% APRnext payment −$2.43 per $10,000 · paid last 24h −0.034%
Price spread now: Phemex against Binance+0.433%7-day average −0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$80as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$710.714% of the position
Funding, last 7 days−0.084%−$8 on $10k
+Price spread, last 4 days (all we have)−0.441%−$44 · spread now +0.433%, 7d avg −0.009%
=The price spread pays, funding is against you. Phemex is 0.443% dearer against Binance than usual: you sell high and buy low (spread +0.433% now, against its 7-day average of −0.009%): +$44 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 6.1 days. At the pace of the last 7 days (−0.084% in total) that is about 37 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.084% in total (about -4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.43 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 | 0.000005191 | 0.0756 | pay 0.0756% / 8h | 40m 58s | $143.1M | $1.49B | 75x |
| Short | Phemex u1000PEPEUSDT | 0.000005214 | 0.0513 | get 0.0513% / 8h | 40m 58s | $2.4M | $8.1M | 50x |
Binance 1000PEPEUSDT
Phemex u1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$51.07
- Price spread: +0.433% → −0.009%
- $44.27
- Slippage, 4 orders
- −$49.41
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$78.21
- Costs to cover
- 0.714%
- Break-even
- never at this rate
Slippage from Binance: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago | 0.10 bp | 7.1 bp −$7 | 11.9 bp −$119 | 28.3 bp −$2,832 | doesn't fit |
| Sell Phemex live order book, 3 min ago | 13.86 bp | 20.0 bp −$20 | 20.0 bp −$200 | 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 | 0.000005220 | +0.554% | $19K | $649 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005205 | +0.260% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005229 | +0.728% | $61K | $182K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005189 | −0.041% | $100.9M | $426.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005197 | +0.112% | $164.6M | $98.6M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005207 | +0.314% | $652K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005238 | +0.895% | $29K | $545K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005218 | +0.508% | $2K | $2.7M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005226 | +0.670% | $608K | $4.2M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0124% | 8h | 0.000005209 | +0.341% | $27.1M | $73.5M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDT
KuCoin PEPEUSDTMShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni 1000PEPEUSDT | +0.0151% | 1h | 0.000005222 | +0.593% | $152K | $832K | 25x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005208 | +0.327% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0274% | 8h | 0.000005188 | −0.064% | $46.6M | $219.0M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0360% | 1h | 0.000005212 | +0.400% | $2K | $11K | 10x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0384% | 8h | 0.000005191 | −0.004% | $47.9M | $748.7M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0404% | 1h | 0.000005221 | +0.574% | $8K | $120K | 12x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0410% | 8h | 0.000005214 | +0.437% | $34K | $26K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0500% | 8h | 0.000005221 | +0.572% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0503% | 8h | 0.000005210 | +0.362% | $4.5M | $30.5M | 75x | as long as short |
| Phemex u1000PEPEUSDTshort | +0.0513% | 8h | 0.000005214 | +0.433% | $2.4M | $8.1M | 50x | |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0518% | 1h | 0.000005212 | +0.400% | $74K | $127K | 25x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0544% | 1h | 0.000005224 | +0.632% | $699K | $39.8M | 50x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0560% | 1h | 0.000005210 | +0.370% | $80K | $875K | 15x | as long as short |
| Nado kPEPE-PERP | +0.0636% | 1h | 0.000005216 | +0.474% | $167K | $956K | 10x | as long as short |
| Lighter 1000PEPE | +0.0648% | 1h | 0.000005215 | +0.458% | $619K | $9.0M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0705% | 1h | 0.000005208 | +0.332% | $4.8M | $16.7M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0712% | 8h | 0.000005197 | +0.113% | — | $2.3M | — | as long as short |
| 01 Exchange kPEPEUSD | +0.0728% | 1h | 0.000005222 | +0.593% | $630 | $2K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0739% | 8h | 0.000005195 | +0.069% | $1.8M | $11.8M | 50x | as long as short |
| MEXC PEPE_USDT | +0.0749% | 8h | 0.000005200 | +0.169% | $101.1M | $305.1M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0752% | 1h | 0.000005206 | +0.284% | $547K | $284K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0752% | 1h | 0.000005216 | +0.478% | $147K | — | 3x | as long as short |
| Binance 1000PEPEUSDTlong | +0.0756% | 8h | 0.000005191 | long leg | $143.1M | $1.49B | 75x | |
| Hyperliquid kPEPE | +0.0957% | 1h | 0.000005217 | +0.497% | $54.2M | $157.6M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1134% / S −0.2351% | 1h | 0.000005000 | −3.683% | $64K | — | 100x | as long as short |
ApeX Omni 1000PEPEUSDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
SoDEX 1000PEPE-USD
OKX PEPE-USDT-SWAP
Injective PEPE/USDC PERP
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Deribit 1000PEPE_USDC-PERPETUAL
Coinbase International 1000PEPE-PERP-INTX
Backpack kPEPE_USDC_PERP
Nado kPEPE-PERP
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
BingX 1000PEPE-USDC
01 Exchange kPEPEUSD
Aster 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]