Funding you earn now, next payment 06:00 UTC−0.1279%/8h= −140.1% APRpaid last 24h −0.097%
Price spread now: Bybit against Injective+0.733%78s7-day average −0.578% · you sell dearer than you buy
Net, funding: paid 7d − costs−$154as 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−0.448%−$45 on $10k
+Price spread, last 4 days (all we have)−0.619%−$62 · spread now +0.733%, 7d avg −0.578%
=The price spread pays, funding is against you. Bybit is 1.312% dearer against Injective than usual: you sell high and buy low (spread +0.733% now, against its 7-day average of −0.578%): +$131 on $10k if it goes back. Holding the pair costs −$38 a day in funding at the current rate, which eats that in about 3.4 days. At the pace of the last 7 days (−0.448% in total) that is about 20 days. The two prices were read 78 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 -0.448% in total (about -23.4% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective PEPE/USDC PERP | 0.000005128 | 0.1379 | pay 0.0172% / 1h | 59m 56s | $10K | $119K | 12x |
| Short | Bybit 1000PEPEUSDT | 0.000005166 | 0.0100 | get 0.0100% / 8h | 1h 59m | $100.8M | $411.1M | 50x |
Injective PEPE/USDC PERP
Bybit 1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Injective. 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
- −$268.67
- Price spread: +0.733% → −0.578%
- $131.15
- Slippage, 4 orders
- −$97.67
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$246.21
- Costs to cover
- 1.087%
- Break-even
- from the start
Slippage from Injective: live order book, 49 min ago; Bybit: live order book, 4 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 Injective live order book, 49 min ago | 16.91 bp | 72.3 bp −$72 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 0.98 bp | 10.2 bp −$10 | 11.5 bp −$115 | 26.3 bp −$2,632 | 169.1 bp −$84.5K |
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 | 0.000005161 | +0.644% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0007% | 1h | 0.000005166 | +0.739% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005170 | +0.819% | $59K | $178K | 10x | as long as short |
| Bybit 1000PEPEUSDTshort | +0.0100% | 8h | 0.000005166 | +0.733% | $100.8M | $411.1M | 50x | |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005162 | +0.663% | $163.4M | $95.9M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005169 | +0.803% | $26.0M | $71.6M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005159 | +0.596% | $617K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005129 | +0.015% | $28K | $540K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005178 | +0.971% | $1K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005172 | +0.854% | $588K | $4.2M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
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 | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0135% | 1h | 0.000005169 | +0.800% | $2K | $11K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005166 | +0.736% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0315% | 8h | 0.000005167 | +0.759% | $46.0M | $213.1M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0378% | 8h | 0.000005167 | +0.759% | $34K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0420% | 8h | 0.000005170 | +0.819% | $48.3M | $719.6M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0524% | 1h | 0.000005170 | +0.819% | $74K | $127K | 25x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0537% | 8h | 0.000005173 | +0.875% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0544% | 8h | 0.000005168 | +0.780% | $4.4M | $29.5M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0600% | 8h | 0.000005170 | +0.829% | $2.4M | $8.0M | 50x | as long as short |
| Lighter 1000PEPE | +0.0600% | 1h | 0.000005172 | +0.858% | $623K | $9.1M | 10x | as long as short |
| Nado kPEPE-PERP | +0.0645% | 1h | 0.000005168 | +0.772% | $163K | $953K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0649% | 1h | 0.000005165 | +0.731% | $68K | $844K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0680% | 1h | 0.000005173 | +0.878% | $624 | $3K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0680% | 1h | 0.000005153 | +0.488% | $684K | $38.1M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0703% | 1h | 0.000005129 | +0.020% | $155K | $818K | 25x | as long as short |
| BingX 1000PEPE-USDC | +0.0757% | 8h | 0.000005166 | +0.735% | — | $2.3M | — | as long as short |
| MEXC PEPE_USDT | +0.0790% | 8h | 0.000005165 | +0.727% | $99.5M | $305.2M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0791% | 8h | 0.000005168 | +0.776% | $143.1M | $1.44B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0792% | 1h | 0.000005168 | +0.778% | $547K | $281K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0792% | 1h | 0.000005171 | +0.839% | $146K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0819% | 8h | 0.000005169 | +0.794% | $1.9M | $11.6M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0826% | 1h | 0.000005168 | +0.777% | $4.7M | $16.8M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1042% | 1h | 0.000005171 | +0.839% | $55.2M | $154.0M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1133% / S −0.2351% | 1h | 0.000005000 | −2.496% | $64K | — | 100x | as long as short |
| Injective PEPE/USDC PERPlong | +0.1379% | 1h | 0.000005128 | long leg | $10K | $119K | 12x |
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Deribit 1000PEPE_USDC-PERPETUAL
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Lighter 1000PEPE
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Coinbase International 1000PEPE-PERP-INTX
ApeX Omni 1000PEPEUSDT
BingX 1000PEPE-USDC
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]