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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 22:00 UTC−0.0716%/8h= −78.4% APRpaid last 24h −0.025%
Price spread now: edgeX against Extended+0.259%53s7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$26as 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−$270.265% of the position
Long on ExtendedShort on edgeX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.006%+$1 on $10k
Price spread, last 3 days (all we have)−0.049%−$5 · spread now +0.259%, 7d avg +0.014%
Together, before fees−0.043%+ Points / potential airdropExtended: Active · edgeX: Active · farm board−$4 on $10k · with fees, hour by hour
The price spread pays, funding is against you. edgeX is 0.245% dearer against Extended than usual: you sell high and buy low (spread +0.259% now, against its 7-day average of +0.014%): +$24 on $10k if it goes back. Holding the pair costs −$21 a day in funding at the current rate, which eats that in about 27 hours. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.006% in total (about 0.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongExtended 1000PEPE-USD0.0000048030.0816pay 0.0102% / 1h30m 39s$526K$147K25x
ShortedgeX 1000PEPEUSDC0.0000048150.0100get 0.0050% / 4h2h 30m$27K$338K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

edgeX against Extended. 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
−$150.36
Price spread: +0.259% → +0.014%
$24.47
Slippage, 4 orders
−$12.53
Fee Extended: 2.5 bp × 2 orders
−$5
Fee edgeX: 4.5 bp × 2 orders
−$9
Net
−$152.42
Costs to cover
0.265%
Break-even
never at this rate
Slippage from Extended: live order book, 57 min ago; edgeX: live order book, 57 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 Extended live order book, 57 min ago3.05 bp7.7 bp −$845.1 bp −$451doesn't fitdoesn't fit
Sell edgeX live order book, 57 min ago0.92 bp5.6 bp −$637.3 bp −$373doesn't fitdoesn't fit

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%1h0.000004800−0.061%$18K$9510xas long as short
gTrade (Gains Network) PEPE/USDL +0.0006% / S −0.0006%1h0.000004800−0.067%$14K—150xas long as short
Hyperliquid kPEPE+0.0100%1h0.000004802−0.015%$56.9M$70.3M10xas long as short
Pacifica kPEPE+0.0100%1h0.000004806+0.069%$59K$113K10xas long as short
Bybit 1000PEPEUSDT+0.0100%8h0.000004800−0.048%$88.7M$273.3M50xas long as short
Gate PEPE_USDT+0.0100%8h0.000004797−0.119%$149.0M$61.8M75xas long as short
KuCoin PEPEUSDTM+0.0100%8h0.000004801−0.046%$23.8M$52.4M75xas long as short
Variational Omni 1000PEPE+0.0100%8h0.000004799−0.070%$705K$3.7M—as long as short
edgeX 1000PEPEUSDCshort+0.0100%4h0.000004815+0.259%$27K$338K20x
SunX 1000PEPE-USDT+0.0100%8h0.000004813+0.206%$2K$2.4M20xas long as short
Show all 35 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX PEPE-USDT+0.0100%8h0.000004801−0.035%$553K$3.6M75xas long as short
OKX PEPE-USDT-SWAP+0.0133%8h0.000004803+0.006%$41.3M$488.2M50xas long as short
Bitget PEPEUSDT+0.0172%8h0.000004801−0.042%$43.2M$152.2M75xas long as short
Reya kPEPERUSDPERP+0.0189%1h0.000004803+0.012%$7K—15xas long as short
BloFin PEPE-USDT+0.0248%8h0.000004806+0.069%$3.9M$21.7M75xas long as short
GMX PEPE/USD [ETH-USDC]L +0.0318% / S −0.0217%1h0.000004000−16.713%$52K—100xas long as short
Lighter 1000PEPE+0.0336%1h0.000004805+0.048%$591K$5.1M10xas long as short
Orderly PERP_1000PEPE_USDC+0.0380%8h0.000004804+0.021%$29K$11K20xas long as short
Paradex kPEPE-USD-PERP+0.0400%8h0.000004805+0.056%$5K$1620xas long as short
Coinbase International 1000PEPE-PERP-INTX+0.0464%1h0.000004801−0.035%$575K$25.3M50xas long as short
Phemex u1000PEPEUSDT+0.0466%8h0.000004800−0.048%$2.3M$6.3M50xas long as short
Backpack kPEPE_USDC_PERP+0.0498%1h0.000004805+0.050%$95K$622K15xas long as short
Injective PEPE/USDC PERP+0.0555%1h0.000004809+0.131%$4K$92K12xas long as short
Nado kPEPE-PERP+0.0691%1h0.000004798−0.089%$179K$859K10xas long as short
SoDEX 1000PEPE-USD+0.0705%1h0.000004805+0.048%$2K$9K10xas long as short
ApeX Omni 1000PEPEUSDT+0.0722%1h0.000004816+0.277%$100K$759K25xas long as short
Kraken Futures PF_PEPEUSD+0.0762%1h0.000004804+0.031%$3.9M$13.0M50xas long as short
BingX 1000PEPE-USDC+0.0774%8h0.000004802−0.008%—$2.3M—as long as short
Extended 1000PEPE-USDlong+0.0816%1h0.000004803long leg$526K$147K25x
Aevo 1000PEPE-PERP+0.0816%1h0.000004807+0.090%$136K—3xas long as short
MEXC PEPE_USDT+0.0819%8h0.000004804+0.023%$90.3M$289.9M300xas long as short
Binance 1000PEPEUSDT+0.0820%8h0.000004808+0.100%$127.8M$1.02B75xas long as short
Aster 1000PEPEUSDT+0.0860%8h0.000004803+0.010%$1.5M$6.8M50xas long as short
Deribit 1000PEPE_USDC-PERPETUAL+0.1000%1h0.000004805+0.048%$81K$94K25xas long as short
01 Exchange kPEPEUSD+0.1232%1h0.000004813+0.215%$551$2K10xas long as short