PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0508%/8h= +55.6% APRnext payment +$5.08 per $10,000 · paid last 24h +0.007%

Price spread now: Phemex against Gate+0.263%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$660.660% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now +0.263%, 7d avg +0.068%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Phemex is 0.195% dearer against Gate than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.068%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.013% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.08 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	Gate PEPE_USDT	0.000005255	0.0100	pay 0.0100% / 8h	4h 01m	$171.9M	$83.9M	75x
Short	Phemex u1000PEPEUSDT	0.000005269	0.0608	get 0.0608% / 8h	4h 01m	$2.6M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.263%Rate

Funding earned: $106.65
Price spread: +0.263% → +0.068%: $19.47
Slippage, 4 orders: −$39.04
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: $60.09
Costs to cover: 0.660%
Break-even: 3.1 days

Slippage from Gate: live order book, 2 min ago; Phemex: live order book, 2 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 Gate live order book, 2 min ago	2.87 bp	10.8 bp −$11	18.3 bp −$183	64.5 bp −$6,454	doesn't fit
Sell Phemex live order book, 2 min ago	5.91 bp	21.8 bp −$22	42.1 bp −$421	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	0.000005255	+0.001%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005255	+0.006%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005257	+0.038%	$68K	$147K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005247	−0.154%	$102.8M	$364.1M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000005255	long leg	$171.9M	$83.9M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005260	+0.101%	$27.0M	$66.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005177	−1.492%	$822K	$4.9M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005181	−1.402%	$37K	$491K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005267	+0.238%	$2K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005238	−0.329%	$607K	$3.8M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005257	+0.045%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0232%	8h	0.000005255	−0.010%	$48.4M	$183.2M	75x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005255	0.000%	$3K	$110K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0366%	8h	0.000005263	+0.154%	$35K	$25K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0400%	8h	0.000005251	−0.076%	$50.6M	$653.5M	50x	as long as short
BloFin PEPE-USDT	+0.0525%	8h	0.000005259	+0.076%	$4.6M	$27.5M	75x	as long as short
Phemex u1000PEPEUSDTshort	+0.0608%	8h	0.000005269	+0.263%	$2.6M	$7.3M	50x
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005258	+0.057%	$770K	$35.5M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0701%	1h	0.000005260	+0.095%	$75K	$126K	25x	as long as short
BingX 1000PEPE-USDC	+0.0725%	8h	0.000005251	−0.069%	—	$2.3M	—	as long as short
SoDEX 1000PEPE-USD	+0.0765%	1h	0.000005263	+0.152%	$2K	$10K	10x	as long as short
MEXC PEPE_USDT	+0.0767%	8h	0.000005250	−0.103%	$101.2M	$294.2M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0768%	1h	0.000005257	+0.038%	$149K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0776%	8h	0.000005253	−0.047%	$151.0M	$1.28B	75x	as long as short
Extended 1000PEPE-USD	+0.0776%	1h	0.000005249	−0.108%	$557K	$226K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0796%	8h	0.000005271	+0.303%	$6K	—	20x	as long as short
Lighter 1000PEPE	+0.0808%	1h	0.000005266	+0.209%	$645K	$8.4M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0844% / S −0.1715%	1h	0.000005000	−4.853%	$64K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0872%	1h	0.000005178	−1.465%	$104K	$746K	25x	as long as short
Aster 1000PEPEUSDT	+0.0898%	8h	0.000005259	+0.082%	$1.9M	$9.8M	50x	as long as short
Nado kPEPE-PERP	+0.0932%	1h	0.000005261	+0.117%	$184K	$909K	10x	as long as short
01 Exchange kPEPEUSD	+0.1120%	1h	0.000005272	+0.324%	$636	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1120%	1h	0.000005263	+0.147%	$84K	$715K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1238%	1h	0.000005261	+0.119%	$4.8M	$16.2M	50x	as long as short
Hyperliquid kPEPE	+0.1560%	1h	0.000005257	+0.038%	$57.0M	$143.2M	10x	as long as short