Funding you earn now, next payment 08:00 UTC−0.0358%/8h= −39.2% APRnext payment −$3.58 per $10,000 · paid last 24h −0.003%
Price spread now: Bitget against Phemex−0.122%7-day average −0.027% · you buy dearer than you sell
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$78as in the Price arb table
costs, in and out, $10k−$680.685% of the position
Funding, last 7 days+0.009%+$1 on $10k
+Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.122%, 7d avg −0.027%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bitget is 0.094% cheaper against Phemex than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.027%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.009% in total (about 0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$3.58 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 | Phemex u1000PEPEUSDT | 0.000005098 | 0.0458 | pay 0.0458% / 8h | 6h 05m | $2.4M | $7.0M | 50x |
| Short | Bitget PEPEUSDT | 0.000005092 | 0.0100 | get 0.0100% / 8h | 6h 05m | $47.4M | $166.8M | 75x |
Phemex u1000PEPEUSDT
Bitget PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget 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
- −$75.15
- Price spread: −0.122% → −0.027%
- −$9.41
- Slippage, 4 orders
- −$44.45
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$153.02
- Costs to cover
- 0.685%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; Bitget: 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 Phemex live order book, 4 min ago | 11.97 bp | 25.8 bp −$26 | 42.0 bp −$420 | doesn't fit | doesn't fit |
| Sell Bitget live order book, 4 min ago | 1.57 bp | 7.6 bp −$8 | 9.9 bp −$99 | doesn't fit | doesn't fit |
PEPE on 34 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 | 0.000005093 | −0.100% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005098 | −0.006% | $18K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005099 | +0.018% | $62K | $127K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005092 | −0.120% | $99.2M | $326.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005094 | −0.080% | $163.7M | $72.4M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005097 | −0.031% | $25.5M | $61.4M | 75x | as long as short |
| Bitget PEPEUSDTshort | +0.0100% | 8h | 0.000005092 | −0.122% | $47.4M | $166.8M | 75x | |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005096 | −0.049% | $681K | $4.6M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005115 | +0.332% | $27K | $422K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005106 | +0.151% | $2K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDTShow all 34 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005099 | +0.016% | $581K | $3.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005103 | +0.088% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0265% | 8h | 0.000005095 | −0.061% | $46.1M | $579.5M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0293% | 8h | 0.000005102 | +0.082% | $33K | $24K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0424% | 1h | 0.000005103 | +0.096% | $922K | $30.7M | 50x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0458% | 8h | 0.000005098 | long leg | $2.4M | $7.0M | 50x | |
| BingX 1000PEPE-USDC | +0.0510% | 8h | 0.000005093 | −0.092% | — | $2.3M | — | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0530% / S −0.0561% | 1h | 0.000005000 | −1.924% | $57K | — | 100x | as long as short |
| MEXC PEPE_USDT | +0.0557% | 8h | 0.000005090 | −0.151% | $96.9M | $292.5M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0557% | 8h | 0.000005100 | +0.029% | $144.1M | $1.18B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0560% | 1h | 0.000005100 | +0.034% | $559K | $199K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0560% | 1h | 0.000005101 | +0.057% | $144K | — | 3x | as long as short |
| SoDEX 1000PEPE-USD | +0.0613% | 1h | 0.000005100 | +0.037% | $2K | $12K | 10x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0615% | 1h | 0.000005115 | +0.331% | $106K | $749K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0648% | 1h | 0.000005107 | +0.167% | $193K | $882K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0660% | 8h | 0.000005100 | +0.046% | $1.7M | $8.3M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0661% | 8h | 0.000005100 | +0.043% | $6K | — | 20x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0731% | 1h | 0.000005100 | +0.037% | $62K | $114K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0817% | 1h | 0.000005096 | −0.035% | $4.1M | $14.6M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0909% | 1h | 0.000005109 | +0.214% | $4K | $102K | 12x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0957% | 1h | 0.000005096 | −0.051% | $98K | $609K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0968% | 1h | 0.000005108 | +0.194% | $616 | $3K | 10x | as long as short |
| Lighter 1000PEPE | +0.1808% | 1h | 0.000005107 | +0.175% | $1.1M | $7.4M | 10x | as long as short |
| Hyperliquid kPEPE | +0.2043% | 1h | 0.000005101 | +0.057% | $56.4M | $136.1M | 10x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDC
GMX PEPE/USD [ETH-USDC]
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
SoDEX 1000PEPE-USD
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
Deribit 1000PEPE_USDC-PERPETUAL
Kraken Futures PF_PEPEUSD
Injective PEPE/USDC PERP
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Lighter 1000PEPE
Hyperliquid kPEPE