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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 08:00 UTC+0.0381%/8h= +41.7% APRnext payment +$3.81 per $10,000 · paid last 24h +0.043%
Price spread now: BingX against HTX+0.427%52s7-day average −0.027% · you sell dearer than you buy
Net, funding: paid 7d − costs−$45as 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−$490.493% of the position
Long on HTXShort on BingX
What this pair did over the last
the charts below follow
Funding, last 7 days+0.038%+$4 on $10k
Price spread, last 3 days (all we have)−0.487%−$49 · spread now +0.427%, 7d avg −0.027%
Together, before fees−0.449%−$45 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and BingX is 0.454% dearer against HTX than usual: you sell high and buy low: +$45 more if the spread goes back to its 7-day average of −0.027%. The two prices were read 52 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 0.038% in total (about 2.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.81 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHTX PEPE-USDT0.0000050340.0100pay 0.0100% / 8h6h 30m$568K$3.6M75x
ShortBingX 1000PEPE-USDT0.0000050550.0481get 0.0481% / 8h6h 30m—$258.4M—

Funding history

latest
Range statsloading…

Price spread between the two exchanges

BingX against HTX. 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
$79.97
Price spread: +0.427% → −0.027%
$45.42
Slippage, 4 orders
−$27.27
Fee HTX: 6 bp × 2 orders
−$12
Fee BingX: 5 bp × 2 orders
−$10
Net
$76.11
Costs to cover
0.493%
Break-even
0.3 days
Slippage from HTX: live order book, 3 min ago; BingX: live order book, 4 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 HTX live order book, 3 min ago9.55 bp15.9 bp −$1640.5 bp −$405139.4 bp −$13.9Kdoesn't fit
Sell BingX live order book, 4 min ago0.10 bp6.2 bp −$610.0 bp −$10016.8 bp −$1,67943.4 bp −$21.7K

PEPE on 34 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%1h0.000005029−0.091%$18K$9510xas long as short
gTrade (Gains Network) PEPE/USDL +0.0005% / S −0.0005%1h0.000005047+0.270%$3K—150xas long as short
Pacifica kPEPE+0.0100%1h0.000005030−0.075%$61K$125K10xas long as short
Bybit 1000PEPEUSDT+0.0100%8h0.000005051+0.340%$98.4M$321.5M50xas long as short
Gate PEPE_USDT+0.0100%8h0.000005035+0.024%$161.1M$70.3M75xas long as short
KuCoin PEPEUSDTM+0.0100%8h0.000005038+0.081%$24.9M$60.0M75xas long as short
Bitget PEPEUSDT+0.0100%8h0.000005079+0.890%$45.1M$159.8M75xas long as short
Variational Omni 1000PEPE+0.0100%8h0.000005030−0.081%$565K$4.5M—as long as short
edgeX 1000PEPEUSDC+0.0100%4h0.000005026−0.155%$27K$408K20xas long as short
SunX 1000PEPE-USDT+0.0100%8h0.000005045+0.230%$2K$2.4M20xas long as short
Show all 34 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX PEPE-USDTlong+0.0100%8h0.000005034long leg$568K$3.6M75x
Reya kPEPERUSDPERP+0.0189%1h0.000005039+0.107%$8K—15xas long as short
Phemex u1000PEPEUSDT+0.0203%8h0.000005020−0.278%$2.4M$6.8M50xas long as short
OKX PEPE-USDT-SWAP+0.0220%8h0.000005056+0.441%$44.8M$564.5M50xas long as short
ApeX Omni 1000PEPEUSDT+0.0250%1h0.000005024−0.195%$106K$750K25xas long as short
Orderly PERP_1000PEPE_USDC+0.0276%8h0.000005056+0.449%$33K$23K20xas long as short
Coinbase International 1000PEPE-PERP-INTX+0.0424%1h0.000005036+0.044%$664K$28.9M50xas long as short
BingX 1000PEPE-USDTshort+0.0481%8h0.000005055+0.427%—$258.4M—
Aevo 1000PEPE-PERP+0.0504%1h0.000005055+0.421%$143K—3xas long as short
GMX PEPE/USD [ETH-USDC]L +0.0506% / S −0.0383%1h0.000005000−0.671%$65K—100xas long as short
MEXC PEPE_USDT+0.0509%8h0.000005039+0.107%$95.1M$289.6M300xas long as short
Binance 1000PEPEUSDT+0.0512%8h0.000005051+0.337%$142.4M$1.16B75xas long as short
Extended 1000PEPE-USD+0.0512%1h0.000005077+0.851%$557K$199K25xas long as short
Paradex kPEPE-USD-PERP+0.0532%8h0.000005028−0.106%$6K$1620xas long as short
Aster 1000PEPEUSDT+0.0599%8h0.000005033−0.014%$1.7M$8.1M50xas long as short
Nado kPEPE-PERP+0.0627%1h0.000005042+0.170%$178K$879K10xas long as short
SoDEX 1000PEPE-USD+0.0645%1h0.000005082+0.958%$2K$12K10xas long as short
Kraken Futures PF_PEPEUSD+0.0819%1h0.000005082+0.963%$4.0M$14.5M50xas long as short
Injective PEPE/USDC PERP+0.0909%1h0.000005052+0.362%$4K$102K12xas long as short
Backpack kPEPE_USDC_PERP+0.0910%1h0.000005020−0.274%$101K$627K15xas long as short
01 Exchange kPEPEUSD+0.0992%1h0.000005048+0.282%$1K$2K10xas long as short
Deribit 1000PEPE_USDC-PERPETUAL+0.1334%1h0.000005058+0.481%$61K$114K25xas long as short
Lighter 1000PEPE+0.1408%1h0.000005032−0.036%$1.1M$7.3M10xas long as short
Hyperliquid kPEPE+0.2272%1h0.000005047+0.262%$55.6M$135.5M10xas long as short