Funding you earn now, next payment 10:00 UTC−0.0190%/8h= −20.8% APRpaid last 24h +0.002%
Price spread now: Injective against Binance+0.065%57s7-day average +0.562% · you sell dearer than you buy
Net, funding: paid 7d − costs−$74as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$1001.003% of the position
Funding, last 7 days+0.265%+$26 on $10k
+Price spread, last 4 days (all we have)+0.243%+$24 · spread now +0.065%, 7d avg +0.562%
=Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Injective is 0.496% cheaper against Binance than usual: you would sell low and buy high (−$50 if the spread goes back to its 7-day average of +0.562%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.265%, so the current rate has only just turned against you. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance 1000PEPEUSDT | 0.000005008 | 0.0553 | pay 0.0553% / 8h | 6h 58m | $131.8M | $1.54B | 75x |
| Short | Injective PEPE/USDC PERP | 0.000005011 | 0.0363 | get 0.0045% / 1h | 58m 29s | $6K | $121K | 12x |
Binance 1000PEPEUSDT
Injective PEPE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$39.92
- Price spread: +0.065% → +0.562%
- −$49.6
- Slippage, 4 orders
- −$90.23
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$189.77
- Costs to cover
- 1.003%
- Break-even
- never at this rate
Slippage from Binance: live order book, 16 min ago; Injective: live order book, 35 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, 16 min ago | 0.50 bp | 9.8 bp −$10 | 14.9 bp −$149 | 40.4 bp −$4,041 | doesn't fit |
| Sell Injective live order book, 35 min ago | 26.64 bp | 54.2 bp −$54 | doesn't fit | 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 | −0.112% | $3K | — | 150x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.0026% | 1h | 0.000005005 | −0.055% | $4.6M | $17.0M | 50x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000005007 | −0.014% | $51.6M | $161.8M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005008 | +0.006% | $58K | $197K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005005 | −0.062% | $96.3M | $446.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005002 | −0.114% | $159.8M | $99.9M | 75x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0100% | 1h | 0.000005006 | −0.024% | $66K | $959K | 15x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004998 | −0.203% | $653K | $5.4M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005005 | −0.056% | $27K | $569K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0100% | 1h | 0.000005009 | +0.026% | $146K | $846K | 25x | as long as short |
gTrade (Gains Network) PEPE/USD
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
Gate PEPE_USDT
Backpack kPEPE_USDC_PERP
Variational Omni 1000PEPE
edgeX 1000PEPEUSDC
ApeX Omni 1000PEPEUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005000 | −0.160% | $1K | $2.6M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000005002 | −0.114% | $2K | $11K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005004 | −0.066% | $585K | $4.2M | 75x | as long as short |
| Nado kPEPE-PERP | +0.0117% | 1h | 0.000005005 | −0.052% | $152K | $949K | 10x | as long as short |
| Bitget PEPEUSDT | +0.0126% | 8h | 0.000005005 | −0.044% | $44.6M | $225.8M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0128% | 8h | 0.000005009 | +0.018% | $25.7M | $75.9M | 75x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0150% | 1h | 0.000004996 | −0.234% | $57K | $139K | 25x | as long as short |
| 01 Exchange kPEPEUSD | +0.0152% | 1h | 0.000005006 | −0.034% | $604 | $2K | 10x | as long as short |
| Lighter 1000PEPE | +0.0168% | 1h | 0.000005011 | +0.065% | $592K | $9.0M | 10x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004993 | −0.287% | $8K | — | 15x | as long as short |
| Phemex u1000PEPEUSDT | +0.0201% | 8h | 0.000005003 | −0.094% | $2.3M | $8.0M | 50x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0273% | 8h | 0.000005008 | +0.006% | $45.7M | $742.9M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0276% | 8h | 0.000005011 | +0.057% | $6K | — | 20x | as long as short |
| Injective PEPE/USDC PERPshort | +0.0363% | 1h | 0.000005011 | +0.065% | $6K | $121K | 12x | |
| BloFin PEPE-USDT | +0.0397% | 8h | 0.000005010 | +0.046% | $4.4M | $30.1M | 75x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0431% | 8h | 0.000005008 | +0.006% | $32K | $31K | 20x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0464% | 1h | 0.000005002 | −0.114% | $664K | $39.4M | 50x | as long as short |
| Binance 1000PEPEUSDTlong | +0.0553% | 8h | 0.000005008 | long leg | $131.8M | $1.54B | 75x | |
| MEXC PEPE_USDT | +0.0559% | 8h | 0.000005009 | +0.016% | $99.6M | $303.0M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0560% | 1h | 0.000005007 | −0.016% | $525K | $286K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0560% | 1h | 0.000004997 | −0.214% | $141K | — | 3x | as long as short |
| BingX 1000PEPE-USDC | +0.0563% | 8h | 0.000004995 | −0.252% | — | $2.3M | — | as long as short |
| Aster 1000PEPEUSDT | +0.0573% | 8h | 0.000005010 | +0.047% | $1.8M | $12.3M | 50x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0926% / S −0.1034% | 1h | 0.000005000 | −0.154% | $50K | — | 100x | as long as short |
| dYdX PEPE-USD | +0.8700% | 1h | 0.000005009 | +0.036% | $25K | $12K | 10x | as long as short |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Nado kPEPE-PERP
Bitget PEPEUSDT
KuCoin PEPEUSDTM
Deribit 1000PEPE_USDC-PERPETUAL
01 Exchange kPEPEUSD
Lighter 1000PEPE
Reya kPEPERUSDPERP
Phemex u1000PEPEUSDT
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
BloFin PEPE-USDT
Orderly PERP_1000PEPE_USDC
Coinbase International 1000PEPE-PERP-INTX
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
BingX 1000PEPE-USDC
Aster 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
dYdX PEPE-USD