Funding you earn now, next payment 09:00 UTC−0.2330%/8h= −255.2% APRpaid last 24h +0.100%
Price spread now: Deribit against Phemex−0.041%7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$53as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$640.639% of the position
Funding, last 7 days+0.108%+$11 on $10k
+Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.041%, 7d avg −0.039%
=The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: −$70 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.108%, 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 0.108% in total (about 5.7% 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 | Phemex u1000PEPEUSDT | 0.000005128 | 0.2861 | pay 0.2861% / 8h | 7h 56m | $2.4M | $8.1M | 50x |
| Short | Deribit 1000PEPE_USDC-PERPETUAL | 0.000005126 | 0.0531 | get 0.0066% / 1h | 56m 59s | $73K | $128K | 25x |
Phemex u1000PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$489.34
- Price spread: −0.041% → −0.039%
- −$0.15
- Slippage, 4 orders
- −$44.91
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$553.4
- Costs to cover
- 0.639%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 2 min ago; Deribit: live order book, 7 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, 2 min ago | 9.15 bp | 18.1 bp −$18 | 44.6 bp −$446 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 7 min ago | 4.86 bp | 10.3 bp −$10 | 19.5 bp −$195 | 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 | 0.000005122 | −0.113% | $19K | $649 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005123 | −0.094% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005120 | −0.158% | $60K | $186K | 10x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005120 | −0.158% | $164.1M | $98.6M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005140 | +0.228% | $625K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005135 | +0.142% | $28K | $547K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005131 | +0.064% | $2K | $2.7M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005127 | −0.025% | $600K | $4.2M | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0118% | 1h | 0.000005123 | −0.099% | $2K | $11K | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.0147% | 1h | 0.000005103 | −0.489% | $8K | $120K | 12x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDT
SoDEX 1000PEPE-USD
Injective PEPE/USDC PERPShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin PEPEUSDTM | +0.0151% | 8h | 0.000005119 | −0.187% | $26.8M | $74.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005123 | −0.097% | $8K | — | 15x | as long as short |
| Bybit 1000PEPEUSDT | +0.0191% | 8h | 0.000005115 | −0.261% | $98.8M | $433.6M | 50x | as long as short |
| Bitget PEPEUSDT | +0.0233% | 8h | 0.000005118 | −0.193% | $46.0M | $221.6M | 75x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0267% | 1h | 0.000005136 | +0.154% | $150K | $836K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0268% | 1h | 0.000005123 | −0.098% | $76K | $895K | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0354% | 8h | 0.000005116 | −0.236% | $46.9M | $746.2M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0422% | 8h | 0.000005128 | +0.006% | $34K | $26K | 20x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0432% | 8h | 0.000005128 | +0.002% | $6K | — | 20x | as long as short |
| Hyperliquid kPEPE | +0.0435% | 1h | 0.000005125 | −0.060% | $53.1M | $159.8M | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.0448% | 1h | 0.000005127 | −0.021% | $618 | $2K | 10x | as long as short |
| BloFin PEPE-USDT | +0.0474% | 8h | 0.000005122 | −0.119% | $4.5M | $30.3M | 75x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0504% | 1h | 0.000005127 | −0.021% | $672K | $39.8M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUALshort | +0.0531% | 1h | 0.000005126 | −0.041% | $73K | $128K | 25x | |
| Kraken Futures PF_PEPEUSD | +0.0619% | 1h | 0.000005119 | −0.186% | $4.7M | $16.7M | 50x | as long as short |
| Lighter 1000PEPE | +0.0632% | 1h | 0.000005127 | −0.021% | $621K | $9.0M | 10x | as long as short |
| BingX 1000PEPE-USDT | +0.0665% | 8h | 0.000005116 | −0.230% | — | $175.5M | — | as long as short |
| Extended 1000PEPE-USD | +0.0688% | 1h | 0.000005117 | −0.214% | $537K | $280K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0688% | 8h | 0.000005117 | −0.222% | $99.6M | $305.4M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0688% | 1h | 0.000005126 | −0.041% | $145K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0688% | 8h | 0.000005119 | −0.180% | $141.3M | $1.51B | 75x | as long as short |
| Aster 1000PEPEUSDT | +0.0700% | 8h | 0.000005114 | −0.280% | $1.7M | $12.0M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0810% | 1h | 0.000005127 | −0.021% | $163K | $964K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1019% / S −0.1217% | 1h | 0.000005000 | −2.498% | $50K | — | 100x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.2861% | 8h | 0.000005128 | long leg | $2.4M | $8.1M | 50x |
KuCoin PEPEUSDTM
Reya kPEPERUSDPERP
Bybit 1000PEPEUSDT
Bitget PEPEUSDT
ApeX Omni 1000PEPEUSDT
Backpack kPEPE_USDC_PERP
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
Paradex kPEPE-USD-PERP
Hyperliquid kPEPE
01 Exchange kPEPEUSD
BloFin PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
Kraken Futures PF_PEPEUSD
Lighter 1000PEPE
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
Aster 1000PEPEUSDT
Nado kPEPE-PERP
GMX PEPE/USD [ETH-USDC]