PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0179%/8h= −19.6% APRnext payment −$1.79 per $10,000 · paid last 24h −0.016%

Price spread now: Gate against Phemex−0.202%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$610.615% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 3 days (all we have)+0.044%+$4 · spread now −0.202%, 7d avg −0.064%

Together, before fees+0.063%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Gate is 0.138% cheaper against Phemex than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.064%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000PEPEUSDT	0.000004809	0.0279	pay 0.0279% / 8h	55m 03s	$2.3M	$6.4M	50x
Short	Gate PEPE_USDT	0.000004799	0.0100	get 0.0100% / 8h	55m 03s	$150.8M	$63.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phemex. 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 PhemexbpFee GatebpOrdersPrice spread, now −0.202%Rate

Funding earned: −$37.49
Price spread: −0.202% → −0.064%: −$13.77
Slippage, 4 orders: −$34.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$112.76
Costs to cover: 0.615%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Gate: 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	5.18 bp	13.6 bp −$14	29.2 bp −$292	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	2.08 bp	13.0 bp −$13	19.0 bp −$190	67.1 bp −$6,710	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
Hyperliquid kPEPE	−0.0125%	1h	0.000004799	−0.202%	$65.7M	$86.8M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004800	−0.176%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004803	−0.114%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004803	−0.129%	$3.9M	$13.4M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004803	−0.119%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004805	−0.077%	$86.8M	$286.7M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000004799	−0.202%	$150.8M	$63.7M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004802	−0.135%	$24.7M	$54.2M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004804	−0.102%	$42.4M	$149.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004798	−0.226%	$596K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004805	−0.074%	$28K	$344K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004810	+0.019%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004804	−0.098%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004807	−0.040%	$544K	$3.5M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004806	−0.055%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0218%	8h	0.000004808	−0.015%	$41.5M	$496.8M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0228%	8h	0.000004806	−0.056%	$5K	$16	20x	as long as short
01 Exchange kPEPEUSD	+0.0248%	1h	0.000004810	+0.027%	$551	$2K	10x	as long as short
Phemex u1000PEPEUSDTlong	+0.0279%	8h	0.000004809	long leg	$2.3M	$6.4M	50x
BloFin PEPE-USDT	+0.0340%	8h	0.000004808	−0.015%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0348% / S −0.0383%	1h	0.000004000	−16.817%	$42K	—	100x	as long as short
Lighter 1000PEPE	+0.0392%	1h	0.000004803	−0.119%	$657K	$6.2M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004811	+0.048%	$568K	$25.7M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004803	−0.119%	$4K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0441%	8h	0.000004805	−0.085%	$30K	$12K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0594%	1h	0.000004806	−0.052%	$91K	$602K	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0598%	1h	0.000004805	−0.077%	$100K	$761K	25x	as long as short
BingX 1000PEPE-USDC	+0.0693%	8h	0.000004805	−0.067%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0712%	1h	0.000004804	−0.107%	$529K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0712%	8h	0.000004803	−0.114%	$93.1M	$278.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0712%	8h	0.000004807	−0.033%	$132.0M	$1.05B	75x	as long as short
Aster 1000PEPEUSDT	+0.0716%	8h	0.000004804	−0.101%	$1.5M	$7.2M	50x	as long as short
Aevo 1000PEPE-PERP	+0.0720%	1h	0.000004809	+0.006%	$136K	—	3x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0792%	1h	0.000004805	−0.077%	$81K	$94K	25x	as long as short
Nado kPEPE-PERP	+0.0815%	1h	0.000004812	+0.064%	$184K	$845K	10x	as long as short