Funding you earn now, next payment 08:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h −0.002%
Price spread now: Coinbase International against BingX+0.870%53s7-day average −0.008% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as 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−$330.331% of the position
Funding, last 7 days−0.087%−$9 on $10k
+Price spread, last 4 days (all we have)−0.820%−$82 · spread now +0.870%, 7d avg −0.008%
=The price spread pays, funding is against you. Coinbase International is 0.878% dearer against BingX than usual: you sell high and buy low (spread +0.870% now, against its 7-day average of −0.008%): +$88 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 23 days. At the pace of the last 7 days (−0.087% in total) that is about 2 months. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX 1000PEPE-USDT | 0.000005011 | 0.0629 | pay 0.0629% / 8h | 7h 32m | — | $176.8M | — |
| Short | Coinbase International 1000PEPE-PERP-INTX | 0.000005055 | 0.0504 | get 0.0063% / 1h | 32m 25s | $671K | $39.3M | 50x |
BingX 1000PEPE-USDT
Coinbase International 1000PEPE-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International 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
- −$26.25
- Price spread: +0.870% → −0.008%
- $87.79
- Slippage, 4 orders
- −$13.1
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- $28.44
- Costs to cover
- 0.331%
- Break-even
- from the start
Slippage from BingX: live order book, 7 min ago; Coinbase International: live order book, 2 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, 7 min ago | 0.10 bp | 5.1 bp −$5 | 6.9 bp −$69 | 15.0 bp −$1,498 | 35.9 bp −$17.9K |
| Sell Coinbase International live order book, 2 min ago | 3.95 bp | 10.8 bp −$11 | 16.6 bp −$166 | 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 | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0008% | 1h | 0.000005065 | +1.078% | $4K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005050 | +0.770% | $59K | $186K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005010 | −0.034% | $97.0M | $438.3M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005005 | −0.128% | $158.9M | $99.8M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005087 | +1.502% | $637K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005088 | +1.520% | $28K | $551K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005071 | +1.181% | $2K | $2.7M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005057 | +0.910% | $595K | $4.3M | 75x | as long as short |
| Injective PEPE/USDC PERP | +0.0147% | 1h | 0.000005088 | +1.529% | $7K | $121K | 12x | as long as short |
| KuCoin PEPEUSDTM | +0.0164% | 8h | 0.000005029 | +0.345% | $26.3M | $74.8M | 75x | as long as short |
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDT
Injective PEPE/USDC PERP
KuCoin PEPEUSDTMShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX 1000PEPE-USD | +0.0167% | 1h | 0.000005063 | +1.030% | $2K | $11K | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005014 | +0.050% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0199% | 8h | 0.000005011 | −0.008% | $45.2M | $222.9M | 75x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0315% | 1h | 0.000005102 | +1.808% | $150K | $839K | 25x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0321% | 8h | 0.000005018 | +0.132% | $45.2M | $737.4M | 50x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0402% | 1h | 0.000005062 | +1.010% | $97K | $909K | 15x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0408% | 8h | 0.000005056 | +0.891% | $6K | — | 20x | as long as short |
| Phemex u1000PEPEUSDT | +0.0422% | 8h | 0.000005063 | +1.036% | $2.3M | $8.1M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0435% | 8h | 0.000005022 | +0.208% | $33K | $30K | 20x | as long as short |
| BloFin PEPE-USDT | +0.0444% | 8h | 0.000005070 | +1.169% | $4.4M | $30.2M | 75x | as long as short |
| Hyperliquid kPEPE | +0.0463% | 1h | 0.000005017 | +0.112% | $52.0M | $160.6M | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTXshort | +0.0504% | 1h | 0.000005055 | +0.870% | $671K | $39.3M | 50x | |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0541% | 1h | 0.000005061 | +0.990% | $72K | $128K | 25x | as long as short |
| 01 Exchange kPEPEUSD | +0.0544% | 1h | 0.000005033 | +0.431% | $607 | $2K | 10x | as long as short |
| Lighter 1000PEPE | +0.0616% | 1h | 0.000005057 | +0.910% | $604K | $9.0M | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0626% | 1h | 0.000005061 | +0.991% | $4.8M | $16.8M | 50x | as long as short |
| BingX 1000PEPE-USDTlong | +0.0629% | 8h | 0.000005011 | long leg | — | $176.8M | — | |
| Binance 1000PEPEUSDT | +0.0651% | 8h | 0.000005016 | +0.098% | $138.4M | $1.52B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0654% | 8h | 0.000005012 | +0.018% | $97.9M | $308.0M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0656% | 1h | 0.000005033 | +0.425% | $530K | $284K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0656% | 1h | 0.000005051 | +0.790% | $143K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0670% | 8h | 0.000005019 | +0.160% | $1.7M | $12.0M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0695% | 1h | 0.000005010 | −0.035% | $157K | $967K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0972% / S −0.1091% | 1h | 0.000005000 | −0.227% | $50K | — | 100x | as long as short |
| dYdX PEPE-USD | +0.2817% | 1h | 0.000005048 | +0.724% | $19K | $2K | 10x | as long as short |
SoDEX 1000PEPE-USD
Reya kPEPERUSDPERP
Bitget PEPEUSDT
ApeX Omni 1000PEPEUSDT
OKX PEPE-USDT-SWAP
Backpack kPEPE_USDC_PERP
Paradex kPEPE-USD-PERP
Phemex u1000PEPEUSDT
Orderly PERP_1000PEPE_USDC
BloFin PEPE-USDT
Hyperliquid kPEPE
Deribit 1000PEPE_USDC-PERPETUAL
01 Exchange kPEPEUSD
Lighter 1000PEPE
Kraken Futures PF_PEPEUSD
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Nado kPEPE-PERP
GMX PEPE/USD [ETH-USDC]
dYdX PEPE-USD