Funding you earn now, next payment 23:00 UTC+0.0669%/8h= +73.3% APRpaid last 24h +0.097%
Price spread now: Injective against OKX+0.536%108s7-day average +0.612% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as 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−$1021.021% of the position
Funding, last 7 days+0.387%+$39 on $10k
+Price spread, last 3 days (all we have)−0.682%−$68 · spread now +0.536%, 7d avg +0.612%
=Funding pays, the price is against you. Injective is 0.076% cheaper against OKX than usual: you would sell low and buy high (spread +0.536% now, against its 7-day average of +0.612%). If the spread goes back, that is −$8 on $10k: about 9 hours of funding at the current rate (+$20 a day). At the pace of the last 7 days (+0.387% in total) that is about 33 hours. The two prices were read 108 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 0.387% in total (about 20.2% 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 | OKX PEPE-USDT-SWAP | 0.000004848 | 0.0204 | pay 0.0204% / 8h | 1h 35m | $41.8M | $494.0M | 50x |
| Short | Injective PEPE/USDC PERP | 0.000004874 | 0.0873 | get 0.0109% / 1h | 35m 29s | $4K | $103K | 12x |
OKX PEPE-USDT-SWAP
Injective PEPE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against OKX. 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
- $140.52
- Price spread: +0.536% → +0.612%
- −$7.57
- Slippage, 4 orders
- −$92.06
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $30.87
- Costs to cover
- 1.021%
- Break-even
- 5.5 days
Slippage from OKX: live order book, 4 min ago; Injective: live order book, 48 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 OKX live order book, 4 min ago | 1.03 bp | 6.0 bp −$6 | 9.7 bp −$97 | 39.2 bp −$3,924 | doesn't fit |
| Sell Injective live order book, 48 min ago | 22.68 bp | 22.7 bp −$23 | doesn't fit | 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 | 0.000004838 | −0.199% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004847 | −0.025% | $14K | — | 150x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004846 | −0.041% | $597K | $5.5M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004838 | −0.206% | $61.9M | $78.2M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004843 | −0.103% | $60K | $113K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004845 | −0.056% | $87.6M | $279.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004841 | −0.144% | $151.6M | $62.6M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004841 | −0.140% | $24.9M | $53.9M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004864 | +0.329% | $583K | $4.0M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004858 | +0.201% | $27K | $343K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Lighter 1000PEPE
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDCShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004862 | +0.287% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004848 | 0.000% | $2K | $9K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004850 | +0.043% | $549K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0155% | 8h | 0.000004847 | −0.023% | $42.7M | $151.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004847 | −0.027% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAPlong | +0.0204% | 8h | 0.000004848 | long leg | $41.8M | $494.0M | 50x | |
| GMX PEPE/USD [ETH-USDC] | L +0.0213% / S −0.0093% | 1h | 0.000004000 | −17.492% | $54K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0323% | 8h | 0.000004858 | +0.206% | $3.9M | $22.3M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0379% | 8h | 0.000004844 | −0.086% | $5K | $16 | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0407% | 8h | 0.000004842 | −0.118% | $2.3M | $6.4M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0443% | 8h | 0.000004851 | +0.060% | $30K | $11K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0448% | 1h | 0.000004853 | +0.103% | $616K | $25.7M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0472% | 1h | 0.000004849 | +0.021% | $555 | $2K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0575% | 1h | 0.000004850 | +0.041% | $82K | $94K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0619% | 1h | 0.000004844 | −0.089% | $91K | $614K | 15x | as long as short |
| Nado kPEPE-PERP | +0.0730% | 1h | 0.000004845 | −0.069% | $186K | $854K | 10x | as long as short |
| BingX 1000PEPE-USDC | +0.0823% | 8h | 0.000004841 | −0.142% | — | $2.3M | — | as long as short |
| Binance 1000PEPEUSDT | +0.0832% | 8h | 0.000004846 | −0.045% | $130.6M | $1.03B | 75x | as long as short |
| Aevo 1000PEPE-PERP | +0.0832% | 1h | 0.000004855 | +0.144% | $137K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0836% | 8h | 0.000004843 | −0.109% | $91.9M | $283.5M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0840% | 1h | 0.000004847 | −0.013% | $532K | $148K | 25x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0841% | 1h | 0.000004868 | +0.413% | $104K | $764K | 25x | as long as short |
| Aster 1000PEPEUSDT | +0.0860% | 8h | 0.000004844 | −0.081% | $1.5M | $7.0M | 50x | as long as short |
| Injective PEPE/USDC PERPshort | +0.0873% | 1h | 0.000004874 | +0.536% | $4K | $103K | 12x | |
| Kraken Futures PF_PEPEUSD | +0.1316% | 1h | 0.000004845 | −0.055% | $4.0M | $13.3M | 50x | as long as short |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Bitget PEPEUSDT
Reya kPEPERUSDPERP
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
Deribit 1000PEPE_USDC-PERPETUAL
Backpack kPEPE_USDC_PERP
Nado kPEPE-PERP
BingX 1000PEPE-USDC
Binance 1000PEPEUSDT
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Extended 1000PEPE-USD
ApeX Omni 1000PEPEUSDT
Aster 1000PEPEUSDT
Kraken Futures PF_PEPEUSD