Funding you earn now, next payment 08:00 UTC−0.0183%/8h= −20.0% APRnext payment −$1.83 per $10,000 · paid last 24h −0.033%
Price spread now: Phemex against MEXC+0.352%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$600.601% of the position
Funding, last 7 days−0.084%−$8 on $10k
+Price spread, last 4 days (all we have)−0.262%−$26 · spread now +0.352%, 7d avg +0.006%
=The price spread pays, funding is against you. Phemex is 0.345% dearer against MEXC than usual: you sell high and buy low (spread +0.352% now, against its 7-day average of +0.006%): +$35 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 6.3 days. At the pace of the last 7 days (−0.084% in total) that is about 29 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.084% in total (about -4.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.83 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 | MEXC PEPE_USDT | 0.000005319 | 0.0803 | pay 0.0803% / 8h | 3h 49m | $103.6M | $292.1M | 300x |
| Short | Phemex u1000PEPEUSDT | 0.000005338 | 0.0620 | get 0.0620% / 8h | 3h 49m | $2.6M | $7.4M | 50x |
MEXC PEPE_USDT
Phemex u1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against MEXC. 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
- −$38.4
- Price spread: +0.352% → +0.006%
- $34.51
- Slippage, 4 orders
- −$48.08
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$63.97
- Costs to cover
- 0.601%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 5 min ago; Phemex: 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 MEXC live order book, 5 min ago | 0.09 bp | 0.5 bp −$1 | 22.4 bp −$224 | 52.0 bp −$5,198 | 83.7 bp −$41.9K |
| Sell Phemex live order book, 4 min ago | 18.55 bp | 26.9 bp −$27 | 34.0 bp −$340 | 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 | 0.000005311 | −0.145% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005322 | +0.053% | $15K | — | 150x | as long as short |
| Injective PEPE/USDC PERP | +0.0092% | 1h | 0.000005381 | +1.169% | $3K | $111K | 12x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005321 | +0.041% | $69K | $153K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005315 | −0.064% | $103.8M | $369.6M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005318 | −0.015% | $175.8M | $85.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005324 | +0.090% | $27.0M | $67.4M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005323 | +0.071% | $765K | $5.0M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005303 | −0.293% | $38K | $492K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005331 | +0.220% | $2K | $2.5M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Injective PEPE/USDC PERP
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005335 | +0.303% | $615K | $3.8M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005329 | +0.200% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0253% | 8h | 0.000005324 | +0.102% | $51.6M | $186.1M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0375% | 8h | 0.000005332 | +0.254% | $36K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0414% | 8h | 0.000005327 | +0.154% | $52.2M | $673.7M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0531% | 8h | 0.000005341 | +0.417% | $4.6M | $28.1M | 75x | as long as short |
| Phemex u1000PEPEUSDTshort | +0.0620% | 8h | 0.000005338 | +0.352% | $2.6M | $7.4M | 50x | |
| Coinbase International 1000PEPE-PERP-INTX | +0.0712% | 1h | 0.000005333 | +0.267% | $718K | $36.3M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0754% | 8h | 0.000005325 | +0.117% | — | $263.8M | — | as long as short |
| SoDEX 1000PEPE-USD | +0.0780% | 1h | 0.000005330 | +0.211% | $2K | $10K | 10x | as long as short |
| Extended 1000PEPE-USD | +0.0800% | 1h | 0.000005323 | +0.075% | $566K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0800% | 1h | 0.000005334 | +0.286% | $151K | — | 3x | as long as short |
| MEXC PEPE_USDTlong | +0.0803% | 8h | 0.000005319 | long leg | $103.6M | $292.1M | 300x | |
| Paradex kPEPE-USD-PERP | +0.0803% | 8h | 0.000005322 | +0.051% | $6K | — | 20x | as long as short |
| Binance 1000PEPEUSDT | +0.0804% | 8h | 0.000005321 | +0.039% | $155.1M | $1.30B | 75x | as long as short |
| Nado kPEPE-PERP | +0.0874% | 1h | 0.000005327 | +0.160% | $190K | $913K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0877% | 1h | 0.000005331 | +0.229% | $76K | $126K | 25x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0883% / S −0.1721% | 1h | 0.000005000 | −5.994% | $66K | — | 100x | as long as short |
| Aster 1000PEPEUSDT | +0.0932% | 8h | 0.000005326 | +0.132% | $1.9M | $9.9M | 50x | as long as short |
| Lighter 1000PEPE | +0.1144% | 1h | 0.000005322 | +0.060% | $675K | $8.5M | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.1280% | 1h | 0.000005324 | +0.098% | $642 | $3K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.1455% | 1h | 0.000005334 | +0.280% | $72K | $722K | 15x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1532% | 1h | 0.000005329 | +0.189% | $4.9M | $16.3M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1733% | 1h | 0.000005331 | +0.229% | $58.3M | $144.2M | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.2018% | 1h | 0.000005320 | +0.023% | $176K | $798K | 25x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
SoDEX 1000PEPE-USD
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Paradex kPEPE-USD-PERP
Binance 1000PEPEUSDT
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL
GMX PEPE/USD [ETH-USDC]
Aster 1000PEPEUSDT
Lighter 1000PEPE
01 Exchange kPEPEUSD
Backpack kPEPE_USDC_PERP
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE
ApeX Omni 1000PEPEUSDT