Funding you earn now, next payment 08:00 UTC−0.0594%/8h= −65.1% APRnext payment −$5.94 per $10,000 · paid last 24h −0.041%
Price spread now: Bybit against Binance−0.125%7-day average −0.071% · you buy dearer than you sell
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$340.336% of the position
Funding, last 7 days−0.115%−$11 on $10k
+Price spread, last 7 days+0.055%+$6 · spread now −0.125%, 7d avg −0.071%
=Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Bybit is 0.055% cheaper against Binance than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.071%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.115% in total (about -6.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$5.94 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 | Binance 1000PEPEUSDT | 0.000005110 | 0.0694 | pay 0.0694% / 8h | 4h 41m | $144.0M | $1.22B | 75x |
| Short | Bybit 1000PEPEUSDT | 0.000005104 | 0.0100 | get 0.0100% / 8h | 4h 41m | $99.7M | $346.2M | 50x |
Binance 1000PEPEUSDT
Bybit 1000PEPEUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Binance. 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
- −$124.84
- Price spread: −0.125% → −0.071%
- −$5.47
- Slippage, 4 orders
- −$12.64
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$163.96
- Costs to cover
- 0.336%
- Break-even
- never at this rate
Slippage from Binance: live order book, 3 min ago; Bybit: live order book, 3 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 Binance live order book, 3 min ago | 0.69 bp | 8.2 bp −$8 | 13.1 bp −$131 | 33.4 bp −$3,336 | doesn't fit |
| Sell Bybit live order book, 3 min ago | 0.98 bp | 10.0 bp −$10 | 15.0 bp −$150 | 43.1 bp −$4,308 | 282.6 bp −$141.3K |
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 | 0.000005091 | −0.388% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005091 | −0.376% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005100 | −0.204% | $65K | $140K | 10x | as long as short |
| Bybit 1000PEPEUSDTshort | +0.0100% | 8h | 0.000005104 | −0.125% | $99.7M | $346.2M | 50x | |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005103 | −0.145% | $168.7M | $76.1M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005105 | −0.114% | $26.2M | $63.9M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005091 | −0.388% | $688K | $4.7M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005091 | −0.389% | $31K | $451K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005101 | −0.190% | $2K | $2.4M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005098 | −0.249% | $583K | $3.7M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget PEPEUSDT | +0.0171% | 8h | 0.000005108 | −0.045% | $46.6M | $175.1M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005091 | −0.375% | $8K | — | 15x | as long as short |
| Injective PEPE/USDC PERP | +0.0254% | 1h | 0.000005044 | −1.300% | $3K | $102K | 12x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0333% | 8h | 0.000005105 | −0.110% | $33K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0363% | 8h | 0.000005109 | −0.028% | $46.0M | $604.8M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0482% | 8h | 0.000005099 | −0.223% | $4.4M | $25.6M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0593% | 8h | 0.000005105 | −0.106% | $2.4M | $7.1M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0642% | 8h | 0.000005104 | −0.127% | — | $261.8M | — | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0663% | 1h | 0.000005050 | −1.182% | $100K | $742K | 25x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0672% / S −0.0925% | 1h | 0.000005000 | −2.160% | $46K | — | 100x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0672% | 1h | 0.000005112 | +0.031% | $970K | $32.2M | 50x | as long as short |
| MEXC PEPE_USDT | +0.0688% | 8h | 0.000005106 | −0.080% | $93.6M | $287.5M | 300x | as long as short |
| Aevo 1000PEPE-PERP | +0.0688% | 1h | 0.000005096 | −0.282% | $144K | — | 3x | as long as short |
| Binance 1000PEPEUSDTlong | +0.0694% | 8h | 0.000005110 | long leg | $144.0M | $1.22B | 75x | |
| Extended 1000PEPE-USD | +0.0696% | 1h | 0.000005106 | −0.091% | $541K | $226K | 25x | as long as short |
| SoDEX 1000PEPE-USD | +0.0711% | 1h | 0.000005104 | −0.125% | $2K | $12K | 10x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0731% | 1h | 0.000005101 | −0.184% | $72K | $124K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0783% | 1h | 0.000005094 | −0.323% | $199K | $880K | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0788% | 8h | 0.000005113 | +0.050% | $1.8M | $9.2M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0794% | 8h | 0.000005092 | −0.365% | $6K | — | 20x | as long as short |
| Lighter 1000PEPE | +0.0920% | 1h | 0.000005106 | −0.086% | $581K | $8.2M | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0926% | 1h | 0.000005104 | −0.120% | $99K | $644K | 15x | as long as short |
| 01 Exchange kPEPEUSD | +0.1008% | 1h | 0.000005108 | −0.047% | $616 | $3K | 10x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1277% | 1h | 0.000005101 | −0.186% | $4.5M | $15.5M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1465% | 1h | 0.000005113 | +0.051% | $54.9M | $140.3M | 10x | as long as short |
Bitget PEPEUSDT
Reya kPEPERUSDPERP
Injective PEPE/USDC PERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
BingX 1000PEPE-USDT
ApeX Omni 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Coinbase International 1000PEPE-PERP-INTX
MEXC PEPE_USDT
Aevo 1000PEPE-PERP
Extended 1000PEPE-USD
SoDEX 1000PEPE-USD
Deribit 1000PEPE_USDC-PERPETUAL
Nado kPEPE-PERP
Aster 1000PEPEUSDT
Paradex kPEPE-USD-PERP
Lighter 1000PEPE
Backpack kPEPE_USDC_PERP
01 Exchange kPEPEUSD
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE