PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0305%/8h= +33.4% APRnext payment +$3.05 per $10,000 · paid last 24h −0.003%

Price spread now: Phemex against Bitget+0.125%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$770.768% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)+0.077%+$8 · spread now +0.125%, 7d avg +0.014%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.111% dearer against Bitget than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.014%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.05 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	Bitget PEPEUSDT	0.000004799	0.0169	pay 0.0169% / 8h	2h 34m	$43.2M	$152.1M	75x
Short	Phemex u1000PEPEUSDT	0.000004805	0.0474	get 0.0474% / 8h	2h 34m	$2.3M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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

Position, each leg$Hold fordaysFee BitgetbpFee PhemexbpOrdersPrice spread, now +0.125%Rate

Funding earned: $64.12
Price spread: +0.125% → +0.014%: $11.15
Slippage, 4 orders: −$52.75
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$1.49
Costs to cover: 0.768%
Break-even: 7.2 days

Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 5 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 Bitget live order book, 5 min ago	1.66 bp	8.2 bp −$8	9.7 bp −$97	23.9 bp −$2,389	doesn't fit
Sell Phemex live order book, 5 min ago	20.13 bp	32.7 bp −$33	48.5 bp −$485	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	0.000004796	−0.067%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004796	−0.063%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004800	+0.021%	$56.7M	$69.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004803	+0.083%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004799	−0.008%	$88.6M	$273.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004796	−0.063%	$148.5M	$61.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004798	−0.019%	$23.7M	$52.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	+0.007%	$705K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004821	+0.458%	$27K	$337K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004810	+0.229%	$1K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004801	+0.048%	$553K	$3.6M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0127%	8h	0.000004802	+0.063%	$41.3M	$487.7M	50x	as long as short
Bitget PEPEUSDTlong	+0.0169%	8h	0.000004799	long leg	$43.2M	$152.1M	75x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004801	+0.048%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0241%	8h	0.000004806	+0.146%	$3.9M	$21.7M	75x	as long as short
Lighter 1000PEPE	+0.0288%	1h	0.000004802	+0.063%	$591K	$5.1M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.649%	$52K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0370%	8h	0.000004804	+0.105%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0374%	8h	0.000004800	+0.019%	$30K	$10K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0423%	1h	0.000004805	+0.119%	$95K	$623K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004804	+0.104%	$584K	$25.4M	50x	as long as short
Phemex u1000PEPEUSDTshort	+0.0474%	8h	0.000004805	+0.125%	$2.3M	$6.3M	50x
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004805	+0.125%	$4K	$92K	12x	as long as short
SoDEX 1000PEPE-USD	+0.0616%	1h	0.000004802	+0.063%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0670%	1h	0.000004816	+0.354%	$100K	$758K	25x	as long as short
Nado kPEPE-PERP	+0.0670%	1h	0.000004803	+0.080%	$179K	$865K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0762%	1h	0.000004803	+0.083%	$3.9M	$13.0M	50x	as long as short
BingX 1000PEPE-USDC	+0.0766%	8h	0.000004798	−0.017%	—	$2.3M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0792%	1h	0.000004802	+0.063%	$81K	$94K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0808%	1h	0.000004806	+0.146%	$136K	—	3x	as long as short
MEXC PEPE_USDT	+0.0809%	8h	0.000004802	+0.063%	$89.8M	$289.3M	300x	as long as short
Binance 1000PEPEUSDT	+0.0815%	8h	0.000004805	+0.121%	$127.4M	$1.01B	75x	as long as short
Extended 1000PEPE-USD	+0.0816%	1h	0.000004801	+0.037%	$526K	$146K	25x	as long as short
Aster 1000PEPEUSDT	+0.0849%	8h	0.000004805	+0.125%	$1.5M	$6.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.1240%	1h	0.000004808	+0.188%	$551	$2K	10x	as long as short