Funding you earn now, next payment 16:00 UTC−0.0187%/8h= −20.4% APRnext payment −$1.87 per $10,000 · paid last 24h −0.041%
Price spread now: HTX against Phemex−0.036%7-day average −0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$770.766% of the position
Funding, last 7 days+0.016%+$2 on $10k
+Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.036%, 7d avg −0.015%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and HTX is 0.022% cheaper against Phemex than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.015%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.016% in total (about 0.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.87 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 | 0.000004982 | 0.0287 | pay 0.0287% / 8h | 6h 55m | $2.3M | $8.0M | 50x |
| Short | HTX PEPE-USDT | 0.000004980 | 0.0100 | get 0.0100% / 8h | 6h 55m | $582K | $4.2M | 75x |
Phemex u1000PEPEUSDT
HTX PEPE-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$39.21
- Price spread: −0.036% → −0.015%
- −$2.16
- Slippage, 4 orders
- −$52.65
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$118.01
- Costs to cover
- 0.766%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; HTX: 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 | 5.69 bp | 23.7 bp −$24 | 38.9 bp −$389 | doesn't fit | doesn't fit |
| Sell HTX live order book, 4 min ago | 3.19 bp | 15.4 bp −$15 | 32.3 bp −$323 | 133.7 bp −$13.4K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit 1000PEPE_USDC-PERPETUAL | 0.0000% | 1h | 0.000004975 | −0.132% | $57K | $139K | 25x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005002 | +0.412% | $3K | — | 150x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0026% | 1h | 0.000004971 | −0.219% | $4.6M | $16.7M | 50x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004980 | −0.032% | $51.4M | $162.0M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004977 | −0.092% | $57K | $197K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004976 | −0.110% | $95.5M | $448.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004975 | −0.132% | $159.2M | $100.3M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005002 | +0.400% | $650K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005004 | +0.451% | $27K | $567K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004985 | +0.070% | $2K | $2.6M | 20x | as long as short |
Deribit 1000PEPE_USDC-PERPETUAL
gTrade (Gains Network) PEPE/USD
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004972 | −0.193% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDTshort | +0.0100% | 8h | 0.000004980 | −0.036% | $582K | $4.2M | 75x | |
| Bitget PEPEUSDT | +0.0117% | 8h | 0.000004978 | −0.080% | $44.6M | $226.7M | 75x | as long as short |
| Lighter 1000PEPE | +0.0120% | 1h | 0.000004976 | −0.112% | $587K | $9.0M | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.0120% | 1h | 0.000004966 | −0.313% | $599 | $2K | 10x | as long as short |
| KuCoin PEPEUSDTM | +0.0122% | 8h | 0.000004975 | −0.130% | $25.4M | $75.9M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004973 | −0.169% | $8K | — | 15x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0264% | 8h | 0.000004975 | −0.133% | $6K | — | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0265% | 8h | 0.000004978 | −0.072% | $45.3M | $739.4M | 50x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0287% | 8h | 0.000004982 | long leg | $2.3M | $8.0M | 50x | |
| ApeX Omni 1000PEPEUSDT | +0.0341% | 1h | 0.000005001 | +0.389% | $145K | $846K | 25x | as long as short |
| Injective PEPE/USDC PERP | +0.0363% | 1h | 0.000005011 | +0.590% | $6K | $121K | 12x | as long as short |
| BloFin PEPE-USDT | +0.0388% | 8h | 0.000004977 | −0.092% | $4.3M | $29.8M | 75x | as long as short |
| Nado kPEPE-PERP | +0.0396% | 1h | 0.000004966 | −0.307% | $150K | $949K | 10x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0429% | 8h | 0.000004980 | −0.034% | $32K | $31K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000004977 | −0.092% | $671K | $39.1M | 50x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0484% | 1h | 0.000004975 | −0.124% | $66K | $977K | 15x | as long as short |
| BingX 1000PEPE-USDT | +0.0532% | 8h | 0.000004978 | −0.078% | — | $179.9M | — | as long as short |
| Extended 1000PEPE-USD | +0.0536% | 1h | 0.000004976 | −0.115% | $522K | $288K | 25x | as long as short |
| Binance 1000PEPEUSDT | +0.0539% | 8h | 0.000004982 | +0.012% | $131.1M | $1.55B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0546% | 8h | 0.000004978 | −0.062% | $102.1M | $304.0M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0552% | 1h | 0.000004977 | −0.092% | $141K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0562% | 8h | 0.000004981 | −0.013% | $1.8M | $12.3M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0926% / S −0.1034% | 1h | 0.000004000 | −19.705% | $50K | — | 100x | as long as short |
| dYdX PEPE-USD | +0.7486% | 1h | 0.000004968 | −0.275% | $25K | $12K | 10x | as long as short |
SoDEX 1000PEPE-USD
Bitget PEPEUSDT
Lighter 1000PEPE
01 Exchange kPEPEUSD
KuCoin PEPEUSDTM
Reya kPEPERUSDPERP
Paradex kPEPE-USD-PERP
OKX PEPE-USDT-SWAP
ApeX Omni 1000PEPEUSDT
Injective PEPE/USDC PERP
BloFin PEPE-USDT
Nado kPEPE-PERP
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Backpack kPEPE_USDC_PERP
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
dYdX PEPE-USD