Funding you earn now, next payment 09:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h +0.155%
Price spread now: Hyperliquid against Phemex−0.263%7-day average +0.094% · you buy dearer than you sell
Net, funding: paid 7d − costs−$1as in the Funding arb table
Net, price: spread back to 7d avg − costs−$88as in the Price arb table
costs, in and out, $10k−$520.519% of the position
Funding, last 7 days+0.512%+$51 on $10k
+Price spread, last 4 days (all we have)+0.141%+$14 · spread now −0.263%, 7d avg +0.094%
=Together, before fees+0.653%+ Points / potential airdropHyperliquid: Season 2 · farm board+$65 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.358% cheaper against Phemex than usual: you would sell low and buy high (spread −0.263% now, against its 7-day average of +0.094%). If the spread goes back, that is −$36 on $10k: about 13 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.512% in total) that is about 4.9 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000PEPEUSDT | 0.000005011 | 0.0187 | pay 0.0187% / 8h | 7h 00m | $2.3M | $8.0M | 50x |
| Short | Hyperliquid kPEPE | 0.000004998 | 0.0277 | get 0.0035% / 1h | 0m 16s | $51.5M | $161.7M | 10x |
Phemex u1000PEPEUSDT
Hyperliquid kPEPEFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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
- $19.08
- Price spread: −0.263% → +0.094%
- −$35.75
- Slippage, 4 orders
- −$30.88
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$68.56
- Costs to cover
- 0.519%
- Break-even
- 32.2 days
Slippage from Phemex: live order book, 4 min ago; Hyperliquid: live order book, 4 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 | 3.40 bp | 21.8 bp −$22 | 44.7 bp −$447 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 4.00 bp | 8.5 bp −$9 | 11.7 bp −$117 | 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 +0.0005% / S −0.0005% | 1h | 0.000005002 | −0.182% | $3K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005004 | −0.144% | $57K | $197K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005004 | −0.152% | $96.2M | $447.1M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005001 | −0.204% | $159.7M | $103.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004998 | −0.272% | $653K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004994 | −0.335% | $27K | $568K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000004990 | −0.423% | $145K | $846K | 25x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005012 | +0.014% | $1K | $2.6M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005007 | −0.084% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005004 | −0.136% | $585K | $4.2M | 75x | as long as short |
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
ApeX Omni 1000PEPEUSDT
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget PEPEUSDT | +0.0132% | 8h | 0.000005007 | −0.086% | $44.6M | $225.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0133% | 8h | 0.000005000 | −0.220% | $25.6M | $75.9M | 75x | as long as short |
| Injective PEPE/USDC PERP | +0.0147% | 1h | 0.000005011 | −0.004% | $6K | $121K | 12x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0150% | 1h | 0.000005006 | −0.104% | $57K | $139K | 25x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0187% | 8h | 0.000005011 | long leg | $2.3M | $8.0M | 50x | |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005006 | −0.099% | $8K | — | 15x | as long as short |
| Lighter 1000PEPE | +0.0256% | 1h | 0.000005010 | −0.024% | $592K | $9.1M | 10x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0277% | 8h | 0.000005007 | −0.084% | $45.8M | $743.0M | 50x | as long as short |
| Hyperliquid kPEPEshort | +0.0277% | 1h | 0.000004998 | −0.263% | $51.5M | $161.7M | 10x | |
| Paradex kPEPE-USD-PERP | +0.0285% | 8h | 0.000004997 | −0.281% | $6K | — | 20x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0326% | 1h | 0.000005001 | −0.210% | $66K | $958K | 15x | as long as short |
| BloFin PEPE-USDT | +0.0401% | 8h | 0.000005008 | −0.064% | $4.4M | $30.1M | 75x | as long as short |
| 01 Exchange kPEPEUSD | +0.0408% | 1h | 0.000004999 | −0.243% | $603 | $2K | 10x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0431% | 8h | 0.000005007 | −0.074% | $32K | $31K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0504% | 1h | 0.000005012 | +0.016% | $665K | $39.4M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0554% | 1h | 0.000004999 | −0.242% | $152K | $950K | 10x | as long as short |
| Binance 1000PEPEUSDT | +0.0560% | 8h | 0.000005009 | −0.044% | $132.2M | $1.54B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0560% | 1h | 0.000005005 | −0.124% | $525K | $286K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0560% | 1h | 0.000005004 | −0.144% | $141K | — | 3x | as long as short |
| BingX 1000PEPE-USDC | +0.0563% | 8h | 0.000005006 | −0.112% | — | $2.3M | — | as long as short |
| MEXC PEPE_USDT | +0.0564% | 8h | 0.000005009 | −0.048% | $99.6M | $313.9M | 300x | as long as short |
| Aster 1000PEPEUSDT | +0.0583% | 8h | 0.000005009 | −0.045% | $1.8M | $12.3M | 50x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0633% | 1h | 0.000005007 | −0.089% | $4.6M | $17.1M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0926% / S −0.1034% | 1h | 0.000005000 | −0.223% | $50K | — | 100x | as long as short |
| dYdX PEPE-USD | +0.5056% | 1h | 0.000004999 | −0.243% | $25K | $12K | 10x | as long as short |
Bitget PEPEUSDT
KuCoin PEPEUSDTM
Injective PEPE/USDC PERP
Deribit 1000PEPE_USDC-PERPETUAL
Reya kPEPERUSDPERP
Lighter 1000PEPE
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
Backpack kPEPE_USDC_PERP
BloFin PEPE-USDT
01 Exchange kPEPEUSD
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
Nado kPEPE-PERP
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
BingX 1000PEPE-USDC
MEXC PEPE_USDT
Aster 1000PEPEUSDT
Kraken Futures PF_PEPEUSD
GMX PEPE/USD [ETH-USDC]
dYdX PEPE-USD