Funding you earn now, next payment 08:00 UTC+0.0137%/8h= +15.0% APRnext payment +$1.37 per $10,000 · paid last 24h +0.034%
Price spread now: Binance against Phemex−0.119%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$63as in the Price arb table
costs, in and out, $10k−$520.524% of the position
Funding, last 7 days+0.084%+$8 on $10k
+Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.119%, 7d avg −0.015%
=Funding pays, the price is against you. Binance is 0.105% cheaper against Phemex than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.015%). If the spread goes back, that is −$10 on $10k: about 2.5 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.084% in total) that is about 8.7 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000PEPEUSDT | 0.000005191 | 0.0688 | pay 0.0688% / 8h | 3h 09m | $2.5M | $7.7M | 50x |
| Short | Binance 1000PEPEUSDT | 0.000005185 | 0.0826 | get 0.0826% / 8h | 3h 09m | $149.2M | $1.35B | 75x |
Phemex u1000PEPEUSDT
Binance 1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phemex. 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
- $28.85
- Price spread: −0.119% → −0.015%
- −$10.47
- Slippage, 4 orders
- −$30.37
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$33.99
- Costs to cover
- 0.524%
- Break-even
- 15.2 days
Slippage from Phemex: live order book, 4 min ago; Binance: live order book, 5 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 Phemex live order book, 4 min ago | 1.82 bp | 19.4 bp −$19 | 37.6 bp −$376 | doesn't fit | doesn't fit |
| Sell Binance live order book, 5 min ago | 0.48 bp | 7.0 bp −$7 | 12.9 bp −$129 | 19.3 bp −$1,930 | 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 | 0.000005187 | −0.087% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005179 | −0.239% | $14K | — | 150x | as long as short |
| Injective PEPE/USDC PERP | +0.0092% | 1h | 0.000005327 | +2.618% | $3K | $111K | 12x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005195 | +0.075% | $65K | $164K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005178 | −0.252% | $104.6M | $385.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005184 | −0.137% | $170.8M | $89.5M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005198 | +0.131% | $26.0M | $68.7M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005209 | +0.336% | $661K | $5.2M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005220 | +0.561% | $29K | $534K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005196 | +0.087% | $1K | $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 | 0.000005190 | −0.013% | $584K | $4.0M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005188 | −0.052% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0332% | 8h | 0.000005187 | −0.089% | $50.3M | $191.7M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0402% | 8h | 0.000005191 | +0.006% | $35K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0422% | 8h | 0.000005178 | −0.252% | $49.9M | $674.0M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0465% | 1h | 0.000005193 | +0.037% | $2K | $10K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0522% | 1h | 0.000005187 | −0.079% | $74K | $126K | 25x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0526% | 8h | 0.000005194 | +0.065% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0556% | 8h | 0.000005209 | +0.345% | $4.8M | $28.2M | 75x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0688% | 8h | 0.000005191 | long leg | $2.5M | $7.7M | 50x | |
| Coinbase International 1000PEPE-PERP-INTX | +0.0712% | 1h | 0.000005193 | +0.037% | $716K | $36.2M | 50x | as long as short |
| BingX 1000PEPE-USDC | +0.0778% | 8h | 0.000005185 | −0.119% | — | $2.3M | — | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0819% | 1h | 0.000005224 | +0.634% | $161K | $809K | 25x | as long as short |
| Extended 1000PEPE-USD | +0.0824% | 1h | 0.000005183 | −0.150% | $550K | $236K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0824% | 1h | 0.000005192 | +0.017% | $147K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0825% | 8h | 0.000005190 | −0.012% | $98.1M | $297.3M | 300x | as long as short |
| Binance 1000PEPEUSDTshort | +0.0826% | 8h | 0.000005185 | −0.119% | $149.2M | $1.35B | 75x | |
| Nado kPEPE-PERP | +0.0868% | 1h | 0.000005174 | −0.326% | $178K | $922K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0911% | 8h | 0.000005185 | −0.116% | $1.8M | $10.5M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0976% | 1h | 0.000005192 | +0.017% | $626 | $3K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1000% / S −0.2021% | 1h | 0.000005000 | −3.681% | $64K | — | 100x | as long as short |
| Lighter 1000PEPE | +0.1104% | 1h | 0.000005198 | +0.133% | $660K | $8.9M | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.1135% | 1h | 0.000005193 | +0.029% | $68K | $724K | 15x | as long as short |
| Hyperliquid kPEPE | +0.1480% | 1h | 0.000005201 | +0.191% | $56.5M | $146.2M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1573% | 1h | 0.000005189 | −0.034% | $4.8M | $16.4M | 50x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
SoDEX 1000PEPE-USD
Deribit 1000PEPE_USDC-PERPETUAL
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDC
ApeX Omni 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Nado kPEPE-PERP
Aster 1000PEPEUSDT
01 Exchange kPEPEUSD
GMX PEPE/USD [ETH-USDC]
Lighter 1000PEPE
Backpack kPEPE_USDC_PERP
Hyperliquid kPEPE
Kraken Futures PF_PEPEUSD