Funding you earn now, next payment 03:00 UTC−0.0418%/8h= −45.8% APRnext payment −$0.52 per $10,000 · paid last 24h +0.032%
Price spread now: Injective against Coinbase International+0.358%64s7-day average +0.547% · you sell dearer than you buy
Net, funding: paid 7d − costs−$73as 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−$1091.087% of the position
Funding, last 7 days+0.357%+$36 on $10k
+Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.358%, 7d avg +0.547%
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Injective is 0.189% cheaper against Coinbase International than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.547%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.357%, so the current rate has only just turned against you. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Coinbase International 1000PEPE-PERP-INTX | 0.000005026 | 0.0672 | pay 0.0084% / 1h | 52m 08s | $963K | $31.6M | 50x |
| Short | Injective PEPE/USDC PERP | 0.000005044 | 0.0254 | get 0.0032% / 1h | 52m 08s | $3K | $102K | 12x |
Coinbase International 1000PEPE-PERP-INTX
Injective PEPE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Coinbase International. 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
- −$87.8
- Price spread: +0.358% → +0.547%
- −$18.91
- Slippage, 4 orders
- −$98.68
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$215.4
- Costs to cover
- 1.087%
- Break-even
- never at this rate
Slippage from Coinbase International: live order book, 2 min ago; Injective: 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 Coinbase International live order book, 2 min ago | 3.96 bp | 10.7 bp −$11 | 17.0 bp −$170 | doesn't fit | doesn't fit |
| Sell Injective live order book, 6 min ago | 34.65 bp | 34.7 bp −$35 | doesn't fit | 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 | 0.000005031 | +0.101% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005015 | −0.225% | $14K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005040 | +0.279% | $64K | $140K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005019 | −0.129% | $97.9M | $343.7M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005020 | −0.119% | $165.9M | $75.3M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005018 | −0.151% | $25.8M | $63.6M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005057 | +0.610% | $679K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005062 | +0.715% | $31K | $450K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005030 | +0.080% | $2K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005022 | −0.076% | $572K | $3.6M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PEPEUSDT | +0.0154% | 8h | 0.000005026 | −0.002% | $46.1M | $174.2M | 75x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0166% | 1h | 0.000005043 | +0.338% | $100K | $742K | 25x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005022 | −0.082% | $8K | — | 15x | as long as short |
| Injective PEPE/USDC PERPshort | +0.0254% | 1h | 0.000005044 | +0.358% | $3K | $102K | 12x | |
| Orderly PERP_1000PEPE_USDC | +0.0328% | 8h | 0.000005022 | −0.076% | $33K | $24K | 20x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0348% | 1h | 0.000005017 | −0.179% | $71K | $124K | 25x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0362% | 8h | 0.000005022 | −0.080% | $45.3M | $591.1M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0463% | 1h | 0.000005022 | −0.080% | $2K | $12K | 10x | as long as short |
| BloFin PEPE-USDT | +0.0479% | 8h | 0.000005055 | +0.577% | $4.3M | $25.2M | 75x | as long as short |
| BingX 1000PEPE-USDT | +0.0631% | 8h | 0.000005021 | −0.094% | — | $261.5M | — | as long as short |
| Extended 1000PEPE-USD | +0.0664% | 1h | 0.000005019 | −0.137% | $533K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0664% | 1h | 0.000005022 | −0.080% | $142K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0667% | 8h | 0.000005027 | +0.018% | $93.5M | $286.4M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0668% | 8h | 0.000005021 | −0.108% | $141.0M | $1.22B | 75x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0671% / S −0.1045% | 1h | 0.000005000 | −0.517% | $50K | — | 100x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXlong | +0.0672% | 1h | 0.000005026 | long leg | $963K | $31.6M | 50x | |
| Phemex u1000PEPEUSDT | +0.0688% | 8h | 0.000005019 | −0.147% | $2.4M | $7.1M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0762% | 8h | 0.000005022 | −0.090% | $1.8M | $9.2M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0803% | 8h | 0.000005029 | +0.066% | $6K | — | 20x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0836% | 1h | 0.000005020 | −0.115% | $95K | $641K | 15x | as long as short |
| Nado kPEPE-PERP | +0.0870% | 1h | 0.000005022 | −0.087% | $193K | $876K | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.0952% | 1h | 0.000005023 | −0.060% | $606 | $3K | 10x | as long as short |
| Lighter 1000PEPE | +0.1048% | 1h | 0.000005023 | −0.060% | $613K | $8.2M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1298% | 1h | 0.000005019 | −0.142% | $4.3M | $15.4M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1400% | 1h | 0.000005029 | +0.060% | $53.8M | $139.9M | 10x | as long as short |
Bitget PEPEUSDT
ApeX Omni 1000PEPEUSDT
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
Deribit 1000PEPE_USDC-PERPETUAL
OKX PEPE-USDT-SWAP
SoDEX 1000PEPE-USD
BloFin PEPE-USDT
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Phemex u1000PEPEUSDT
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
Backpack kPEPE_USDC_PERP
Nado kPEPE-PERP
01 Exchange kPEPEUSD
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE