Funding you earn now, next payment 08:00 UTC+0.0121%/8h= +13.2% APRnext payment +$1.21 per $10,000 · paid last 24h +0.034%
Price spread now: Binance against Phemex+0.352%7-day average +0.009% · you sell dearer than you buy
Net, funding: paid 7d − costs−$44as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$530.527% of the position
Funding, last 7 days+0.084%+$8 on $10k
+Price spread, last 4 days (all we have)−0.369%−$37 · spread now +0.352%, 7d avg +0.009%
=Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Binance is 0.343% dearer against Phemex than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.009%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000PEPEUSDT | 0.000005017 | 0.0688 | pay 0.0688% / 8h | 2h 48m | $2.4M | $7.8M | 50x |
| Short | Binance 1000PEPEUSDT | 0.000005035 | 0.0809 | get 0.0809% / 8h | 2h 48m | $142.6M | $1.39B | 75x |
Phemex u1000PEPEUSDT
Binance 1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- $25.39
- Price spread: +0.352% → +0.009%
- $34.29
- Slippage, 4 orders
- −$30.7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- $6.98
- Costs to cover
- 0.527%
- Break-even
- 5.1 days
Slippage from Phemex: live order book, 5 min ago; Binance: live order book, 10 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, 5 min ago | 7.03 bp | 21.9 bp −$22 | 44.9 bp −$449 | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 0.10 bp | 7.5 bp −$8 | 13.7 bp −$137 | 50.3 bp −$5,030 | 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 | 0.000005031 | +0.268% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000005009 | −0.169% | $3K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005034 | +0.335% | $59K | $176K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005032 | +0.297% | $98.9M | $400.0M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005030 | +0.255% | $161.3M | $92.7M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005035 | +0.353% | $25.1M | $70.3M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005035 | +0.347% | $596K | $5.3M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004979 | −0.753% | $27K | $536K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005022 | +0.104% | $1K | $2.6M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005014 | −0.062% | $560K | $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 | 0.000005014 | −0.068% | $8K | — | 15x | as long as short |
| SoDEX 1000PEPE-USD | +0.0277% | 1h | 0.000005020 | +0.056% | $2K | $10K | 10x | as long as short |
| Bitget PEPEUSDT | +0.0343% | 8h | 0.000005036 | +0.373% | $45.7M | $208.7M | 75x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0411% | 8h | 0.000005036 | +0.375% | $46.6M | $681.1M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0414% | 8h | 0.000005018 | +0.008% | $33K | $27K | 20x | as long as short |
| BloFin PEPE-USDT | +0.0532% | 8h | 0.000005020 | +0.056% | $4.7M | $27.8M | 75x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0545% | 8h | 0.000005030 | +0.254% | $6K | — | 20x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0548% | 1h | 0.000005018 | +0.016% | $72K | $127K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0652% | 1h | 0.000005023 | +0.120% | $73K | $826K | 15x | as long as short |
| Lighter 1000PEPE | +0.0680% | 1h | 0.000005041 | +0.474% | $603K | $9.0M | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0680% | 1h | 0.000005016 | −0.024% | $618K | $36.6M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0688% | 1h | 0.000005042 | +0.494% | $608 | $3K | 10x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0688% | 8h | 0.000005017 | long leg | $2.4M | $7.8M | 50x | |
| BingX 1000PEPE-USDT | +0.0766% | 8h | 0.000005036 | +0.367% | — | $238.3M | — | as long as short |
| Extended 1000PEPE-USD | +0.0808% | 1h | 0.000005035 | +0.355% | $533K | $262K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0808% | 1h | 0.000005037 | +0.395% | $142K | — | 3x | as long as short |
| Binance 1000PEPEUSDTshort | +0.0809% | 8h | 0.000005035 | +0.352% | $142.6M | $1.39B | 75x | |
| MEXC PEPE_USDT | +0.0809% | 8h | 0.000005040 | +0.456% | $97.6M | $298.7M | 300x | as long as short |
| Nado kPEPE-PERP | +0.0814% | 1h | 0.000005017 | −0.001% | $169K | $940K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0851% | 1h | 0.000005017 | −0.009% | $4.6M | $16.7M | 50x | as long as short |
| Aster 1000PEPEUSDT | +0.0878% | 8h | 0.000005034 | +0.338% | $1.8M | $11.0M | 50x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0914% | 1h | 0.000005024 | +0.136% | $154K | $812K | 25x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.1054% / S −0.1955% | 1h | 0.000005000 | −0.343% | $64K | — | 100x | as long as short |
| Hyperliquid kPEPE | +0.1080% | 1h | 0.000005033 | +0.315% | $53.4M | $150.6M | 10x | as long as short |
| Injective PEPE/USDC PERP | +0.1379% | 1h | 0.000005013 | −0.084% | $3K | $111K | 12x | as long as short |
Reya kPEPERUSDPERP
SoDEX 1000PEPE-USD
Bitget PEPEUSDT
OKX PEPE-USDT-SWAP
Orderly PERP_1000PEPE_USDC
BloFin PEPE-USDT
Paradex kPEPE-USD-PERP
Deribit 1000PEPE_USDC-PERPETUAL
Backpack kPEPE_USDC_PERP
Lighter 1000PEPE
Coinbase International 1000PEPE-PERP-INTX
01 Exchange kPEPEUSD
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Nado kPEPE-PERP
Kraken Futures PF_PEPEUSD
Aster 1000PEPEUSDT
ApeX Omni 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Hyperliquid kPEPE
Injective PEPE/USDC PERP