Funding you earn now, next payment 08:00 UTC+0.0528%/8h= +57.8% APRnext payment +$5.28 per $10,000 · paid last 24h +0.005%
Price spread now: Phemex against KuCoin−0.052%7-day average +0.031% · you buy dearer than you sell
Net, funding: paid 7d − costs−$72as in the Funding arb table
Net, price: spread back to 7d avg − costs−$76as in the Price arb table
costs, in and out, $10k−$680.680% of the position
Funding, last 7 days−0.044%−$4 on $10k
+Price spread, last 4 days (all we have)+0.152%+$15 · spread now −0.052%, 7d avg +0.031%
=Funding pays, the price is against you. Phemex is 0.083% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of +0.031%). If the spread goes back, that is −$8 on $10k: about 13 hours of funding at the current rate (+$16 a day).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.044% in total (about -2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$5.28 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 | KuCoin PEPEUSDTM | 0.000004998 | 0.0100 | pay 0.0100% / 8h | 2h 31m | $24.9M | $70.8M | 75x |
| Short | Phemex u1000PEPEUSDT | 0.000004995 | 0.0628 | get 0.0628% / 8h | 2h 31m | $2.4M | $7.9M | 50x |
KuCoin PEPEUSDTM
Phemex u1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against KuCoin. 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
- $110.78
- Price spread: −0.052% → +0.031%
- −$8.32
- Slippage, 4 orders
- −$44
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $34.46
- Costs to cover
- 0.680%
- Break-even
- 4.8 days
Slippage from KuCoin: 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 KuCoin live order book, 2 min ago | 0.70 bp | 19.7 bp −$20 | 28.9 bp −$289 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 4.00 bp | 19.4 bp −$19 | 37.3 bp −$373 | 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 | 0.000005003 | +0.112% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0001% | 1h | 0.000004992 | −0.106% | $6K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005006 | +0.168% | $57K | $177K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005004 | +0.128% | $98.4M | $403.8M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005001 | +0.068% | $161.4M | $93.9M | 75x | as long as short |
| KuCoin PEPEUSDTMlong | +0.0100% | 8h | 0.000004998 | long leg | $24.9M | $70.8M | 75x | |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004997 | −0.017% | $599K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005018 | +0.405% | $28K | $538K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004998 | +0.016% | $1K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004995 | −0.046% | $561K | $4.1M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
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 | +0.0158% | 1h | 0.000004993 | −0.092% | $2K | $10K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004997 | −0.005% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0336% | 8h | 0.000005010 | +0.248% | $45.1M | $209.6M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0351% | 1h | 0.000004992 | −0.112% | $71K | $127K | 25x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0403% | 8h | 0.000004994 | −0.074% | $33K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0419% | 8h | 0.000005014 | +0.328% | $46.2M | $684.0M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0537% | 8h | 0.000005009 | +0.234% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0545% | 8h | 0.000005007 | +0.188% | $4.4M | $27.9M | 75x | as long as short |
| Phemex u1000PEPEUSDTshort | +0.0628% | 8h | 0.000004995 | −0.052% | $2.4M | $7.9M | 50x | |
| Lighter 1000PEPE | +0.0632% | 1h | 0.000005013 | +0.308% | $595K | $9.0M | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0633% | 1h | 0.000004996 | −0.028% | $73K | $830K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0640% | 1h | 0.000005014 | +0.328% | $605 | $3K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0680% | 1h | 0.000005012 | +0.288% | $637K | $36.8M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0740% | 1h | 0.000005002 | +0.098% | $165K | $942K | 10x | as long as short |
| BingX 1000PEPE-USDT | +0.0762% | 8h | 0.000005010 | +0.242% | — | $238.8M | — | as long as short |
| Extended 1000PEPE-USD | +0.0792% | 1h | 0.000005010 | +0.245% | $530K | $277K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0792% | 8h | 0.000005008 | +0.206% | $95.9M | $301.3M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0793% | 8h | 0.000005006 | +0.160% | $140.6M | $1.41B | 75x | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000004999 | +0.028% | $141K | — | 3x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0843% | 1h | 0.000005021 | +0.468% | $154K | $814K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0847% | 8h | 0.000005003 | +0.106% | $1.7M | $11.2M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0856% | 1h | 0.000004988 | −0.185% | $4.6M | $16.7M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1014% | 1h | 0.000005002 | +0.088% | $52.7M | $152.0M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1106% / S −0.2070% | 1h | 0.000004000 | −19.962% | $64K | — | 100x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000005034 | +0.728% | $3K | $111K | 12x | as long as short |
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Lighter 1000PEPE
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Coinbase International 1000PEPE-PERP-INTX
Nado kPEPE-PERP
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aevo 1000PEPE-PERP
ApeX Omni 1000PEPEUSDT
Aster 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]
Injective PEPE/USDC PERP