Funding you earn now, next payment 00:00 UTC−0.0260%/8h= −28.5% APRnext payment −$2.60 per $10,000 · paid last 24h +0.018%
Price spread now: BloFin against BingX−0.011%51s7-day average +0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$490.487% of the position
Funding, last 7 days+0.177%+$18 on $10k
+Price spread, last 3 days (all we have)+0.108%+$11 · spread now −0.011%, 7d avg +0.014%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and BloFin is 0.024% cheaper against BingX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.014%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.177%, so the current rate has only just turned against you. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.177% in total (about 9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.60 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 | BingX 1000PEPE-USDC | 0.000004737 | 0.0582 | pay 0.0582% / 8h | 18m 28s | — | $2.3M | — |
| Short | BloFin PEPE-USDT | 0.000004736 | 0.0322 | get 0.0322% / 8h | 18m 28s | $3.9M | $22.3M | 75x |
BingX 1000PEPE-USDC
BloFin PEPE-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BloFin against BingX. 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
- −$54.65
- Price spread: −0.011% → +0.014%
- −$2.44
- Slippage, 4 orders
- −$26.73
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee BloFin: 6 bp × 2 orders
- −$12
- Net
- −$105.82
- Costs to cover
- 0.487%
- Break-even
- never at this rate
Slippage from BingX: live order book, 15 min ago; BloFin: live order book, 6 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 BingX live order book, 15 min ago | 0.63 bp | 11.8 bp −$12 | 19.3 bp −$193 | 89.7 bp −$8,971 | 227.2 bp −$113.6K |
| Sell BloFin live order book, 6 min ago | 5.28 bp | 11.3 bp −$11 | 13.5 bp −$135 | 21.0 bp −$2,096 | 59.4 bp −$29.7K |
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 | −0.0244% | 1h | 0.000004731 | −0.116% | $68.2M | $95.0M | 10x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004738 | +0.038% | $17K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000004736 | −0.008% | $13K | — | 150x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0067% | 1h | 0.000004738 | +0.035% | $3.8M | $13.7M | 50x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004740 | +0.074% | $56K | $119K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004739 | +0.053% | $86.2M | $292.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004738 | +0.032% | $149.4M | $64.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004741 | +0.097% | $24.1M | $54.6M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000004741 | +0.087% | $41.9M | $150.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004733 | −0.077% | $570K | $4.2M | — | as long as short |
Hyperliquid kPEPE
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Kraken Futures PF_PEPEUSD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Bitget PEPEUSDT
Variational Omni 1000PEPEShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004744 | +0.167% | $25K | $350K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000004745 | +0.179% | $99K | $755K | 25x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004747 | +0.230% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004740 | +0.074% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004739 | +0.051% | $534K | $3.5M | 75x | as long as short |
| Lighter 1000PEPE | +0.0104% | 1h | 0.000004742 | +0.116% | $592K | $6.5M | 10x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0177% | 8h | 0.000004742 | +0.114% | $5K | $16 | 20x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004740 | +0.068% | $7K | — | 15x | as long as short |
| Phemex u1000PEPEUSDT | +0.0194% | 8h | 0.000004742 | +0.120% | $2.3M | $6.5M | 50x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0204% | 8h | 0.000004743 | +0.137% | $41.1M | $494.5M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0288% | 1h | 0.000004745 | +0.179% | $544 | $2K | 10x | as long as short |
| BloFin PEPE-USDTshort | +0.0322% | 8h | 0.000004736 | −0.011% | $3.9M | $22.3M | 75x | |
| Orderly PERP_1000PEPE_USDC | +0.0369% | 8h | 0.000004741 | +0.087% | $29K | $13K | 20x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0386% / S −0.0311% | 1h | 0.000004000 | −15.549% | $49K | — | 100x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0400% | 1h | 0.000004741 | +0.095% | $579K | $25.5M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0437% | 1h | 0.000004736 | −0.011% | $4K | $102K | 12x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0553% | 1h | 0.000004742 | +0.118% | $90K | $601K | 15x | as long as short |
| BingX 1000PEPE-USDClong | +0.0582% | 8h | 0.000004737 | long leg | — | $2.3M | — | |
| Aster 1000PEPEUSDT | +0.0584% | 8h | 0.000004739 | +0.056% | $1.5M | $7.3M | 50x | as long as short |
| Binance 1000PEPEUSDT | +0.0588% | 8h | 0.000004742 | +0.116% | $131.2M | $1.07B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0590% | 8h | 0.000004741 | +0.103% | $88.0M | $282.1M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0592% | 1h | 0.000004741 | +0.088% | $521K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0592% | 1h | 0.000004739 | +0.053% | $134K | — | 3x | as long as short |
| Nado kPEPE-PERP | +0.0640% | 1h | 0.000004742 | +0.126% | $179K | $850K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0806% | 1h | 0.000004739 | +0.053% | $76K | $98K | 25x | as long as short |
edgeX 1000PEPEUSDC
ApeX Omni 1000PEPEUSDT
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Lighter 1000PEPE
Paradex kPEPE-USD-PERP
Reya kPEPERUSDPERP
Phemex u1000PEPEUSDT
OKX PEPE-USDT-SWAP
01 Exchange kPEPEUSD
Orderly PERP_1000PEPE_USDC
GMX PEPE/USD [ETH-USDC]
Coinbase International 1000PEPE-PERP-INTX
Injective PEPE/USDC PERP
Backpack kPEPE_USDC_PERP
Aster 1000PEPEUSDT
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL