Funding you earn now, next payment 08:00 UTC−0.0444%/8h= −48.7% APRnext payment −$4.44 per $10,000 · paid last 24h +0.042%
Price spread now: BloFin against Phemex−0.004%7-day average −0.043% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$51as in the Price arb table
costs, in and out, $10k−$550.552% of the position
Funding, last 7 days+0.278%+$28 on $10k
+Price spread, last 4 days (all we have)−0.092%−$9 · spread now −0.004%, 7d avg −0.043%
=The price spread pays, funding is against you. BloFin is 0.039% dearer against Phemex than usual: you sell high and buy low (spread −0.004% now, against its 7-day average of −0.043%): +$4 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 7 hours. Mind the row above: over the last 7 days funding on this pair paid +0.278%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.278% in total (about 14.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.44 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 | 0.000005015 | 0.0880 | pay 0.0880% / 8h | 5h 32m | $2.3M | $7.0M | 50x |
| Short | BloFin PEPE-USDT | 0.000005015 | 0.0436 | get 0.0436% / 8h | 5h 32m | $4.3M | $25.1M | 75x |
Phemex u1000PEPEUSDT
BloFin PEPE-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin 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
- −$93.34
- Price spread: −0.004% → −0.043%
- $3.93
- Slippage, 4 orders
- −$31.17
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$144.58
- Costs to cover
- 0.552%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 1 min ago; BloFin: live order book, 11 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, 1 min ago | 6.41 bp | 16.5 bp −$16 | 35.5 bp −$355 | doesn't fit | doesn't fit |
| Sell BloFin live order book, 11 min ago | 1.98 bp | 8.0 bp −$8 | 11.7 bp −$117 | 42.7 bp −$4,272 | 104.1 bp −$52.0K |
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 | 0.000005007 | −0.164% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005010 | −0.108% | $14K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005017 | +0.036% | $63K | $136K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005015 | −0.002% | $98.0M | $337.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005014 | −0.024% | $164.5M | $74.7M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005019 | +0.070% | $25.7M | $62.4M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005019 | +0.066% | $46.2M | $172.2M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005042 | +0.525% | $681K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005060 | +0.903% | $36K | $434K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005014 | −0.022% | $1K | $2.4M | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
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 | 0.000004972 | −0.857% | $568K | $3.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005020 | +0.087% | $8K | — | 15x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0317% | 8h | 0.000005010 | −0.114% | $33K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0319% | 8h | 0.000005017 | +0.036% | $45.2M | $584.0M | 50x | as long as short |
| BloFin PEPE-USDTshort | +0.0436% | 8h | 0.000005015 | −0.004% | $4.3M | $25.1M | 75x | |
| BingX 1000PEPE-USDT | +0.0575% | 8h | 0.000005018 | +0.058% | — | $261.0M | — | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0576% | 1h | 0.000005011 | −0.084% | $908K | $31.2M | 50x | as long as short |
| SoDEX 1000PEPE-USD | +0.0585% | 1h | 0.000005016 | +0.016% | $2K | $12K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0586% / S −0.0912% | 1h | 0.000005000 | −0.303% | $49K | — | 100x | as long as short |
| Extended 1000PEPE-USD | +0.0608% | 1h | 0.000005017 | +0.045% | $530K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0608% | 1h | 0.000004997 | −0.363% | $141K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0611% | 8h | 0.000005019 | +0.080% | $94.8M | $289.0M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0614% | 8h | 0.000005021 | +0.107% | $140.9M | $1.20B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0694% | 8h | 0.000005016 | +0.013% | $1.8M | $9.1M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0765% | 8h | 0.000005010 | −0.100% | $6K | — | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0860% | 1h | 0.000005059 | +0.873% | $99K | $752K | 25x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0880% | 8h | 0.000005015 | long leg | $2.3M | $7.0M | 50x | |
| Nado kPEPE-PERP | +0.0885% | 1h | 0.000005018 | +0.062% | $181K | $870K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0936% | 1h | 0.000005018 | +0.058% | $95K | $624K | 15x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0949% | 1h | 0.000005011 | −0.084% | $61K | $114K | 25x | as long as short |
| 01 Exchange kPEPEUSD | +0.0968% | 1h | 0.000005024 | +0.175% | $606 | $3K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0973% | 1h | 0.000005105 | +1.791% | $4K | $102K | 12x | as long as short |
| Lighter 1000PEPE | +0.1312% | 1h | 0.000005019 | +0.076% | $695K | $8.0M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1388% | 1h | 0.000005015 | −0.013% | $4.2M | $15.1M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1738% | 1h | 0.000005024 | +0.175% | $53.6M | $139.2M | 10x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BingX 1000PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
SoDEX 1000PEPE-USD
GMX PEPE/USD [ETH-USDC]
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
Nado kPEPE-PERP
Backpack kPEPE_USDC_PERP
Deribit 1000PEPE_USDC-PERPETUAL
01 Exchange kPEPEUSD
Injective PEPE/USDC PERP
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE