Funding you earn now, next payment 02:00 UTC+0.0623%/8h= +68.2% APRpaid last 24h +0.098%
Price spread now: Injective against Phemex+0.745%7-day average +0.528% · you sell dearer than you buy
Net, funding: paid 7d − costs−$81as in the Funding arb table
Net, price: spread back to 7d avg − costs−$102as in the Price arb table
costs, in and out, $10k−$1241.239% of the position
Funding, last 7 days+0.431%+$43 on $10k
+Price spread, last 3 days (all we have)−0.589%−$59 · spread now +0.745%, 7d avg +0.528%
=Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Injective is 0.217% dearer against Phemex than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.528%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.431% in total (about 22.5% 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 | 0.000005060 | 0.0286 | pay 0.0286% / 8h | 6h 24m | $2.4M | $6.9M | 50x |
| Short | Injective PEPE/USDC PERP | 0.000005098 | 0.0909 | get 0.0114% / 1h | 24m 37s | $4K | $102K | 12x |
Phemex u1000PEPEUSDT
Injective PEPE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- $130.74
- Price spread: +0.745% → +0.528%
- $21.7
- Slippage, 4 orders
- −$111.9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $28.51
- Costs to cover
- 1.239%
- Break-even
- 5.5 days
Slippage from Phemex: live order book, 4 min ago; Injective: live order book, 44 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 | 4.75 bp | 22.7 bp −$23 | 29.2 bp −$292 | doesn't fit | doesn't fit |
| Sell Injective live order book, 44 min ago | 22.64 bp | 22.7 bp −$23 | doesn't fit | 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 | 0.000005051 | −0.192% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005061 | +0.018% | $14K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005058 | −0.045% | $61K | $125K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005049 | −0.219% | $97.9M | $323.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005052 | −0.164% | $161.2M | $70.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005055 | −0.097% | $25.2M | $60.6M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000005051 | −0.190% | $46.8M | $160.7M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005092 | +0.620% | $624K | $4.5M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005086 | +0.506% | $34K | $413K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005066 | +0.123% | $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
Bitget PEPEUSDT
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 | 0.000005060 | −0.004% | $570K | $3.6M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005065 | +0.084% | $8K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0231% | 8h | 0.000005054 | −0.124% | $45.1M | $567.4M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0278% | 8h | 0.000005063 | +0.051% | $33K | $23K | 20x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0286% | 8h | 0.000005060 | long leg | $2.4M | $6.9M | 50x | |
| ApeX Omni 1000PEPEUSDT | +0.0321% | 1h | 0.000005065 | +0.093% | $107K | $746K | 25x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0424% | 1h | 0.000005067 | +0.132% | $627K | $29.6M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0491% | 8h | 0.000005053 | −0.148% | — | $259.0M | — | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0511% / S −0.0536% | 1h | 0.000005000 | −1.192% | $56K | — | 100x | as long as short |
| Aevo 1000PEPE-PERP | +0.0520% | 1h | 0.000005099 | +0.765% | $144K | — | 3x | as long as short |
| Binance 1000PEPEUSDT | +0.0523% | 8h | 0.000005057 | −0.075% | $142.8M | $1.17B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0526% | 8h | 0.000005048 | −0.245% | $94.8M | $290.7M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0528% | 1h | 0.000005054 | −0.131% | $557K | $199K | 25x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0547% | 8h | 0.000005051 | −0.188% | $6K | $16 | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0575% | 1h | 0.000005065 | +0.093% | $2K | $12K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0618% | 8h | 0.000005058 | −0.053% | $1.7M | $8.2M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0635% | 1h | 0.000005052 | −0.171% | $181K | $881K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0738% | 1h | 0.000005065 | +0.093% | $61K | $114K | 25x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0823% | 1h | 0.000005063 | +0.050% | $4.0M | $14.5M | 50x | as long as short |
| Injective PEPE/USDC PERPshort | +0.0909% | 1h | 0.000005098 | +0.745% | $4K | $102K | 12x | |
| Backpack kPEPE_USDC_PERP | +0.0929% | 1h | 0.000005063 | +0.043% | $101K | $617K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0976% | 1h | 0.000005059 | −0.026% | $1K | $2K | 10x | as long as short |
| Lighter 1000PEPE | +0.1544% | 1h | 0.000005068 | +0.152% | $1.1M | $7.4M | 10x | as long as short |
| Hyperliquid kPEPE | +0.2213% | 1h | 0.000005063 | +0.053% | $55.9M | $135.8M | 10x | as long as short |
HTX PEPE-USDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
ApeX Omni 1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
GMX PEPE/USD [ETH-USDC]
Aevo 1000PEPE-PERP
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Paradex kPEPE-USD-PERP
SoDEX 1000PEPE-USD
Aster 1000PEPEUSDT
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL
Kraken Futures PF_PEPEUSD
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Lighter 1000PEPE
Hyperliquid kPEPE