Funding you earn now, next payment 08:00 UTC+0.0299%/8h= +32.7% APRnext payment +$2.99 per $10,000 · paid last 24h +0.003%
Price spread now: Phemex against Bitget+0.136%7-day average 0.000% · you sell dearer than you buy
Net, funding: paid 7d − costs−$54as in the Funding arb table
Net, price: spread back to 7d avg − costs−$40as in the Price arb table
costs, in and out, $10k−$530.533% of the position
Funding, last 7 days−0.009%−$1 on $10k
+Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.136%, 7d avg 0.000%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Phemex is 0.136% dearer against Bitget than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of 0.000%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.009% in total (about -0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.99 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 | Bitget PEPEUSDT | 0.000005000 | 0.0337 | pay 0.0337% / 8h | 2h 29m | $44.8M | $209.8M | 75x |
| Short | Phemex u1000PEPEUSDT | 0.000005007 | 0.0636 | get 0.0636% / 8h | 2h 29m | $2.4M | $7.9M | 50x |
Bitget PEPEUSDT
Phemex u1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. 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
- $62.78
- Price spread: +0.136% → 0.000%
- $13.61
- Slippage, 4 orders
- −$29.31
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $23.07
- Costs to cover
- 0.533%
- Break-even
- 4.4 days
Slippage from Bitget: live order book, 5 min ago; Phemex: live order book, 5 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 Bitget live order book, 5 min ago | 1.20 bp | 9.3 bp −$9 | 15.3 bp −$153 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 4.00 bp | 19.4 bp −$19 | 37.3 bp −$373 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004986 | −0.283% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0001% | 1h | 0.000005000 | +0.002% | $6K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004989 | −0.226% | $57K | $177K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004999 | −0.016% | $98.0M | $404.3M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005004 | +0.074% | $161.3M | $94.0M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005005 | +0.096% | $24.9M | $70.8M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005001 | +0.008% | $599K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005003 | +0.063% | $27K | $538K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005008 | +0.156% | $2K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004998 | −0.052% | $559K | $4.1M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
SunX 1000PEPE-USDT
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005004 | +0.076% | $8K | — | 15x | as long as short |
| SoDEX 1000PEPE-USD | +0.0189% | 1h | 0.000005004 | +0.074% | $2K | $10K | 10x | as long as short |
| Bitget PEPEUSDTlong | +0.0337% | 8h | 0.000005000 | long leg | $44.8M | $209.8M | 75x | |
| Orderly PERP_1000PEPE_USDC | +0.0400% | 8h | 0.000005005 | +0.088% | $33K | $26K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0417% | 8h | 0.000005004 | +0.074% | $46.3M | $683.1M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0542% | 8h | 0.000004989 | −0.235% | $6K | — | 20x | as long as short |
| BloFin PEPE-USDT | +0.0543% | 8h | 0.000005004 | +0.074% | $4.4M | $27.9M | 75x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0619% | 1h | 0.000005000 | +0.004% | $73K | $830K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.0632% | 1h | 0.000005005 | +0.094% | $604 | $3K | 10x | as long as short |
| Phemex u1000PEPEUSDTshort | +0.0636% | 8h | 0.000005007 | +0.136% | $2.4M | $7.9M | 50x | |
| Lighter 1000PEPE | +0.0640% | 1h | 0.000005006 | +0.114% | $594K | $9.0M | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0680% | 1h | 0.000004995 | −0.106% | $635K | $36.6M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0748% | 1h | 0.000004998 | −0.054% | $165K | $942K | 10x | as long as short |
| BingX 1000PEPE-USDT | +0.0759% | 8h | 0.000004997 | −0.064% | — | $239.0M | — | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0764% | 1h | 0.000005005 | +0.094% | $154K | $813K | 25x | as long as short |
| Extended 1000PEPE-USD | +0.0784% | 1h | 0.000005006 | +0.111% | $528K | $277K | 25x | as long as short |
| Binance 1000PEPEUSDT | +0.0787% | 8h | 0.000005005 | +0.090% | $140.3M | $1.41B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0790% | 8h | 0.000005002 | +0.040% | $95.5M | $301.6M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0792% | 1h | 0.000005006 | +0.114% | $142K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0840% | 8h | 0.000005003 | +0.051% | $1.7M | $11.2M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0854% | 1h | 0.000005001 | +0.009% | $4.6M | $16.8M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0950% | 1h | 0.000005008 | +0.154% | $71K | $127K | 25x | as long as short |
| Hyperliquid kPEPE | +0.1005% | 1h | 0.000005004 | +0.074% | $52.7M | $152.0M | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1114% / S −0.2090% | 1h | 0.000005000 | −0.006% | $63K | — | 100x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000004992 | −0.166% | $3K | $111K | 12x | as long as short |
Reya kPEPERUSDPERP
SoDEX 1000PEPE-USD
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Lighter 1000PEPE
Coinbase International 1000PEPE-PERP-INTX
Nado kPEPE-PERP
BingX 1000PEPE-USDT
ApeX Omni 1000PEPEUSDT
Extended 1000PEPE-USD
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
Deribit 1000PEPE_USDC-PERPETUAL
Hyperliquid kPEPE
GMX PEPE/USD [ETH-USDC]
Injective PEPE/USDC PERP