PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0351%/8h= +38.4% APRnext payment +$3.51 per $10,000 · paid last 24h +0.006%

Price spread now: Phemex against Bybit+0.068%7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$580.585% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.068%, 7d avg +0.050%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.050%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.031% in total (about 1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.51 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	Bybit 1000PEPEUSDT	0.000005158	0.0100	pay 0.0100% / 8h	12m 11s	$99.4M	$430.5M	50x
Short	Phemex u1000PEPEUSDT	0.000005162	0.0451	get 0.0451% / 8h	12m 11s	$2.4M	$8.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee PhemexbpOrdersPrice spread, now +0.068%Rate

Funding earned: $73.61
Price spread: +0.068% → +0.050%: $1.74
Slippage, 4 orders: −$35.49
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: $16.86
Costs to cover: 0.585%
Break-even: 5.4 days

Slippage from Bybit: live order book, 2 min ago; Phemex: live order book, 2 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 Bybit live order book, 2 min ago	0.97 bp	8.2 bp −$8	12.4 bp −$124	28.3 bp −$2,828	118.4 bp −$59.2K
Sell Phemex live order book, 2 min ago	6.60 bp	18.0 bp −$18	32.4 bp −$324	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
dYdX PEPE-USD	0.0000%	1h	0.000005162	+0.073%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005159	+0.019%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005168	+0.194%	$60K	$184K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000005158	long leg	$99.4M	$430.5M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005159	+0.019%	$163.5M	$99.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005150	−0.161%	$613K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005148	−0.194%	$28K	$549K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005173	+0.281%	$1K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005168	+0.200%	$603K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0126%	1h	0.000005162	+0.078%	$2K	$11K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0127%	8h	0.000005162	+0.076%	$27.0M	$74.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005170	+0.237%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0248%	8h	0.000005153	−0.099%	$46.3M	$220.3M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0327%	1h	0.000005145	−0.252%	$149K	$834K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0361%	8h	0.000005158	0.000%	$47.8M	$749.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005142	−0.310%	$8K	$120K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0415%	8h	0.000005168	+0.202%	$34K	$26K	20x	as long as short
Phemex u1000PEPEUSDTshort	+0.0451%	8h	0.000005162	+0.068%	$2.4M	$8.1M	50x
Paradex kPEPE-USD-PERP	+0.0463%	8h	0.000005165	+0.131%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0482%	8h	0.000005161	+0.058%	$4.5M	$30.4M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0505%	1h	0.000005156	−0.048%	$78K	$891K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0525%	1h	0.000005163	+0.097%	$74K	$127K	25x	as long as short
Lighter 1000PEPE	+0.0528%	1h	0.000005165	+0.136%	$620K	$9.1M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005163	+0.097%	$675K	$39.9M	50x	as long as short
BingX 1000PEPE-USDT	+0.0686%	8h	0.000005153	−0.097%	—	$175.0M	—	as long as short
01 Exchange kPEPEUSD	+0.0704%	1h	0.000005172	+0.271%	$624	$2K	10x	as long as short
Nado kPEPE-PERP	+0.0706%	1h	0.000005169	+0.205%	$166K	$958K	10x	as long as short
MEXC PEPE_USDT	+0.0711%	8h	0.000005155	−0.062%	$101.3M	$309.0M	300x	as long as short
Kraken Futures PF_PEPEUSD	+0.0711%	1h	0.000005158	+0.005%	$4.8M	$16.7M	50x	as long as short
Binance 1000PEPEUSDT	+0.0712%	8h	0.000005160	+0.039%	$142.0M	$1.50B	75x	as long as short
Extended 1000PEPE-USD	+0.0712%	1h	0.000005159	+0.024%	$542K	$282K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0712%	1h	0.000005165	+0.136%	$146K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0717%	8h	0.000005164	+0.116%	$1.8M	$12.0M	50x	as long as short
Hyperliquid kPEPE	+0.0912%	1h	0.000005159	+0.019%	$53.7M	$159.3M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1068% / S −0.1281%	1h	0.000005000	−3.063%	$50K	—	100x	as long as short