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Funding arb · Price arb /

PEPE

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Alert: funding
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Alert: spread
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Funding you earn now, next payment 03:00 UTC−0.0873%/8h= −95.6% APRpaid last 24h −0.079%
Price spread now: edgeX against Injective+0.214%7-day average −0.577% · you sell dearer than you buy
Net, funding: paid 7d − costs−$127as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$950.954% of the position
Long on InjectiveShort on edgeX
What this pair did over the last
the charts below follow
Funding, last 7 days−0.312%−$31 on $10k
Price spread, last 4 days (all we have)−0.579%−$58 · spread now +0.214%, 7d avg −0.577%
Together, before fees−0.891%+ Points / potential airdropedgeX: Active · farm board−$89 on $10k · with fees, hour by hour
The price spread pays, funding is against you. edgeX is 0.792% dearer against Injective than usual: you sell high and buy low (spread +0.214% now, against its 7-day average of −0.577%): +$79 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 3.0 days. At the pace of the last 7 days (−0.312% in total) that is about 18 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.312% in total (about -16.3% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongInjective PEPE/USDC PERP0.0000050110.0973pay 0.0122% / 1h7m 50s$4K$102K12x
ShortedgeX 1000PEPEUSDC0.0000050220.0100get 0.0050% / 4h1h 07m$27K$444K20x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

edgeX against Injective. 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

Funding earned
−$183.26
Price spread: +0.214% → −0.577%
$79.16
Slippage, 4 orders
−$86.41
Fee Injective: 0.01 bp × 2 orders
−$0.02
Fee edgeX: 4.5 bp × 2 orders
−$9
Net
−$199.52
Costs to cover
0.954%
Break-even
never at this rate
Slippage from Injective: live order book, 56 min ago; edgeX: live order book, 56 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Injective live order book, 56 min ago10.84 bp73.6 bp −$74doesn't fitdoesn't fitdoesn't fit
Sell edgeX live order book, 56 min ago0.88 bp5.5 bp −$5108.0 bp −$1,080doesn't fitdoesn't fit

PEPE on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX PEPE-USD0.0000%1h0.000005000−0.219%$18K$9510xas long as short
gTrade (Gains Network) PEPE/USDL +0.0006% / S −0.0006%1h0.000005011−0.006%$15K—150xas long as short
Pacifica kPEPE+0.0100%1h0.000005008−0.060%$63K$139K10xas long as short
Bybit 1000PEPEUSDT+0.0100%8h0.000005009−0.040%$97.6M$341.2M50xas long as short
Gate PEPE_USDT+0.0100%8h0.000005009−0.040%$164.5M$75.7M75xas long as short
KuCoin PEPEUSDTM+0.0100%8h0.000005010−0.028%$25.8M$63.3M75xas long as short
Variational Omni 1000PEPE+0.0100%8h0.000005020+0.170%$681K$4.7M—as long as short
edgeX 1000PEPEUSDCshort+0.0100%4h0.000005022+0.214%$27K$444K20x
SunX 1000PEPE-USDT+0.0100%8h0.000005026+0.291%$2K$2.4M20xas long as short
HTX PEPE-USDT+0.0100%8h0.000005014+0.066%$571K$3.6M75xas long as short
Show all 35 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bitget PEPEUSDT+0.0135%8h0.000005011+0.004%$45.9M$173.2M75xas long as short
Reya kPEPERUSDPERP+0.0189%1h0.000005013+0.044%$8K—15xas long as short
Orderly PERP_1000PEPE_USDC+0.0317%8h0.000005021+0.194%$33K$24K20xas long as short
OKX PEPE-USDT-SWAP+0.0349%8h0.000005012+0.020%$45.5M$586.7M50xas long as short
BloFin PEPE-USDT+0.0467%8h0.000005009−0.040%$4.3M$25.0M75xas long as short
SoDEX 1000PEPE-USD+0.0510%1h0.000005018+0.140%$2K$12K10xas long as short
ApeX Omni 1000PEPEUSDT+0.0542%1h0.000005020+0.180%$99K$755K25xas long as short
Coinbase International 1000PEPE-PERP-INTX+0.0576%1h0.000005023+0.239%$943K$31.5M50xas long as short
BingX 1000PEPE-USDT+0.0609%8h0.000005010−0.018%—$261.2M—as long as short
GMX PEPE/USD [ETH-USDC]L +0.0637% / S −0.1023%1h0.000005000−0.220%$49K—100xas long as short
Extended 1000PEPE-USD+0.0640%1h0.000005012+0.021%$530K$226K25xas long as short
Aevo 1000PEPE-PERP+0.0640%1h0.000004978−0.659%$141K—3xas long as short
Binance 1000PEPEUSDT+0.0643%8h0.000005013+0.038%$140.4M$1.21B75xas long as short
MEXC PEPE_USDT+0.0643%8h0.000005011+0.004%$94.2M$290.6M300xas long as short
Aster 1000PEPEUSDT+0.0735%8h0.000005011+0.002%$1.8M$9.2M50xas long as short
Phemex u1000PEPEUSDT+0.0745%8h0.000005018+0.134%$2.4M$7.1M50xas long as short
Paradex kPEPE-USD-PERP+0.0783%8h0.000005010−0.019%$6K—20xas long as short
Nado kPEPE-PERP+0.0792%1h0.000005011−0.001%$185K$872K10xas long as short
Deribit 1000PEPE_USDC-PERPETUAL+0.0947%1h0.000005020+0.180%$71K$124K25xas long as short
Backpack kPEPE_USDC_PERP+0.0953%1h0.000005014+0.068%$93K$632K15xas long as short
01 Exchange kPEPEUSD+0.0960%1h0.000005017+0.120%$605$3K10xas long as short
Injective PEPE/USDC PERPlong+0.0973%1h0.000005011long leg$4K$102K12x
Lighter 1000PEPE+0.1176%1h0.000005016+0.100%$663K$8.1M10xas long as short
Kraken Futures PF_PEPEUSD+0.1388%1h0.000005013+0.031%$4.3M$15.3M50xas long as short
Hyperliquid kPEPE+0.1572%1h0.000005020+0.180%$53.6M$139.6M10xas long as short