Funding you earn now, next payment 00:00 UTC−0.0398%/8h= −43.5% APRpaid last 24h −0.048%
Price spread now: Phemex against Aevo+0.068%7-day average +0.043% · you sell dearer than you buy
Net, funding: paid 7d − costs−$1,188as in the Funding arb table
Net, price: spread back to 7d avg − costs−$1,176as in the Price arb table
costs, in and out, $10k−$1,17811.782% of the position
Funding, last 7 days−0.102%−$10 on $10k
+Price spread, last 3 days (all we have)−0.130%−$13 · spread now +0.068%, 7d avg +0.043%
=The price spread pays, funding is against you. Phemex is 0.025% dearer against Aevo than usual: you sell high and buy low (spread +0.068% now, against its 7-day average of +0.043%): +$2 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.102% in total) that is about 40 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.102% in total (about -5.3% a year). A funding rate is set anew for every payment. 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 | Aevo 1000PEPE-PERP | 0.000004739 | 0.0592 | pay 0.0074% / 1h | 18m 24s | $134K | — | 3x |
| Short | Phemex u1000PEPEUSDT | 0.000004742 | 0.0194 | get 0.0194% / 8h | 18m 24s | $2.3M | $6.5M | 50x |
Aevo 1000PEPE-PERP
Phemex u1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Aevo. 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
- −$83.49
- Price spread: +0.068% → +0.043%
- $2.45
- Slippage, 4 orders
- −$1,150.15
- Fee Aevo: 8 bp × 2 orders
- −$16
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$1,259.19
- Costs to cover
- 11.782%
- Break-even
- never at this rate
Slippage from Aevo: live order book, 60 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 Aevo live order book, 60 min ago | 275.11 bp | 560.4 bp −$560 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 5 min ago | 8.64 bp | 17.6 bp −$18 | 42.4 bp −$424 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid kPEPE | −0.0244% | 1h | 0.000004731 | −0.169% | $68.2M | $95.0M | 10x | as long as short |
| dYdX PEPE-USD | 0.0000% | 1h | 0.000004738 | −0.015% | $17K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0005% / S −0.0005% | 1h | 0.000004736 | −0.061% | $13K | — | 150x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0067% | 1h | 0.000004738 | −0.018% | $3.8M | $13.7M | 50x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004740 | +0.021% | $56K | $119K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004739 | 0.000% | $86.2M | $292.2M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000004738 | −0.021% | $149.4M | $64.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004741 | +0.044% | $24.1M | $54.6M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0100% | 8h | 0.000004741 | +0.034% | $41.9M | $150.5M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004733 | −0.130% | $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 | +0.114% | $25K | $350K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000004745 | +0.127% | $99K | $755K | 25x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004747 | +0.177% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004740 | +0.021% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004739 | −0.002% | $534K | $3.5M | 75x | as long as short |
| Lighter 1000PEPE | +0.0104% | 1h | 0.000004742 | +0.063% | $592K | $6.5M | 10x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0177% | 8h | 0.000004742 | +0.061% | $5K | $16 | 20x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004740 | +0.015% | $7K | — | 15x | as long as short |
| Phemex u1000PEPEUSDTshort | +0.0194% | 8h | 0.000004742 | +0.068% | $2.3M | $6.5M | 50x | |
| OKX PEPE-USDT-SWAP | +0.0204% | 8h | 0.000004743 | +0.084% | $41.1M | $494.5M | 50x | as long as short |
| 01 Exchange kPEPEUSD | +0.0288% | 1h | 0.000004745 | +0.127% | $544 | $2K | 10x | as long as short |
| BloFin PEPE-USDT | +0.0322% | 8h | 0.000004736 | −0.063% | $3.9M | $22.3M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0369% | 8h | 0.000004741 | +0.034% | $29K | $13K | 20x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0386% / S −0.0311% | 1h | 0.000004000 | −15.594% | $49K | — | 100x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0400% | 1h | 0.000004741 | +0.042% | $579K | $25.5M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0437% | 1h | 0.000004736 | −0.063% | $4K | $102K | 12x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0553% | 1h | 0.000004742 | +0.065% | $90K | $601K | 15x | as long as short |
| BingX 1000PEPE-USDC | +0.0582% | 8h | 0.000004737 | −0.053% | — | $2.3M | — | as long as short |
| Aster 1000PEPEUSDT | +0.0584% | 8h | 0.000004739 | +0.003% | $1.5M | $7.3M | 50x | as long as short |
| Binance 1000PEPEUSDT | +0.0588% | 8h | 0.000004742 | +0.063% | $131.2M | $1.07B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0590% | 8h | 0.000004741 | +0.051% | $88.0M | $282.1M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0592% | 1h | 0.000004741 | +0.035% | $521K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERPlong | +0.0592% | 1h | 0.000004739 | long leg | $134K | — | 3x | |
| Nado kPEPE-PERP | +0.0640% | 1h | 0.000004742 | +0.073% | $179K | $850K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0806% | 1h | 0.000004739 | 0.000% | $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
OKX PEPE-USDT-SWAP
01 Exchange kPEPEUSD
BloFin PEPE-USDT
Orderly PERP_1000PEPE_USDC
GMX PEPE/USD [ETH-USDC]
Coinbase International 1000PEPE-PERP-INTX
Injective PEPE/USDC PERP
Backpack kPEPE_USDC_PERP
BingX 1000PEPE-USDC
Aster 1000PEPEUSDT
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Nado kPEPE-PERP
Deribit 1000PEPE_USDC-PERPETUAL