PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0300%/8h= +32.8% APRnext payment +$3.00 per $10,000 · paid last 24h +0.007%

Price spread now: Phemex against OKX+0.132%53s7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as 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−$560.564% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 3 days (all we have)+0.078%+$8 · spread now +0.132%, 7d avg +0.049%

Together, before fees+0.038%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.083% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.049%. The two prices were read 53 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 -0.040% in total (about -2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.00 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	OKX PEPE-USDT-SWAP	0.000004848	0.0151	pay 0.0151% / 8h	2h 22m	$41.6M	$489.4M	50x
Short	Phemex u1000PEPEUSDT	0.000004854	0.0451	get 0.0451% / 8h	2h 22m	$2.3M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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

Position, each leg$Hold fordaysFee OKXbpFee PhemexbpOrdersPrice spread, now +0.132%Rate

Funding earned: $62.94
Price spread: +0.132% → +0.049%: $8.28
Slippage, 4 orders: −$34.43
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $14.79
Costs to cover: 0.564%
Break-even: 5.4 days

Slippage from OKX: 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 OKX live order book, 2 min ago	1.03 bp	7.6 bp −$8	15.4 bp −$154	45.6 bp −$4,561	doesn't fit
Sell Phemex live order book, 2 min ago	3.91 bp	23.2 bp −$23	38.1 bp −$381	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	0.000004845	−0.064%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004843	−0.105%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004852	+0.083%	$58.0M	$71.3M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004847	−0.021%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004847	−0.021%	$88.5M	$274.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004846	−0.041%	$151.2M	$62.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004853	+0.103%	$25.2M	$53.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004837	−0.220%	$705K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004818	−0.620%	$27K	$337K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004865	+0.359%	$1K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004855	+0.140%	$559K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAPlong	+0.0151%	8h	0.000004848	long leg	$41.6M	$489.4M	50x
Bitget PEPEUSDT	+0.0179%	8h	0.000004854	+0.120%	$43.0M	$152.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004852	+0.087%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0268%	8h	0.000004854	+0.124%	$3.9M	$21.9M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−17.492%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0397%	8h	0.000004853	+0.103%	$30K	$11K	20x	as long as short
Phemex u1000PEPEUSDTshort	+0.0451%	8h	0.000004854	+0.132%	$2.3M	$6.3M	50x
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004857	+0.186%	$582K	$25.4M	50x	as long as short
Lighter 1000PEPE	+0.0472%	1h	0.000004851	+0.062%	$618K	$5.2M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0473%	8h	0.000004850	+0.045%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004866	+0.371%	$4K	$110K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0651%	1h	0.000004853	+0.101%	$93K	$623K	15x	as long as short
Nado kPEPE-PERP	+0.0692%	1h	0.000004854	+0.129%	$192K	$847K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0736%	1h	0.000004809	−0.804%	$100K	$760K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0754%	1h	0.000004853	+0.111%	$3.9M	$13.0M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0781%	1h	0.000004854	+0.124%	$82K	$94K	25x	as long as short
BingX 1000PEPE-USDC	+0.0784%	8h	0.000004850	+0.050%	—	$2.3M	—	as long as short
SoDEX 1000PEPE-USD	+0.0821%	1h	0.000004855	+0.144%	$2K	$9K	10x	as long as short
Extended 1000PEPE-USD	+0.0848%	1h	0.000004848	−0.001%	$534K	$147K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0848%	1h	0.000004855	+0.144%	$137K	—	3x	as long as short
MEXC PEPE_USDT	+0.0849%	8h	0.000004853	+0.109%	$91.4M	$290.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0853%	8h	0.000004852	+0.091%	$129.1M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0891%	8h	0.000004851	+0.058%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1240%	1h	0.000004859	+0.227%	$557	$2K	10x	as long as short