Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h +0.083%
Price spread now: Injective against Orderly+1.120%58s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Injective is 1.120% dearer against Orderly than usual: you sell high and buy low (spread +1.120% now, against zero (this spread has no 7-day history yet)): +$112 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 37 days. The two prices were read 58 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 | Orderly PERP_1000PEPE_USDC | 0.000005116 | 0.0354 | pay 0.0354% / 8h | 4h 19m | $34K | $24K | 20x |
| Short | Injective PEPE/USDC PERP | 0.000005173 | 0.0254 | get 0.0032% / 1h | 19m 56s | $3K | $102K | 12x |
Orderly PERP_1000PEPE_USDC
Injective PEPE/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective against Orderly. 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
- −$21.05
- Price spread: +1.120% → 0.000%
- $112.01
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- $84.94
- Costs to cover
- 0.060%
- Break-even
- from the start
Slippage unknown: Orderly: no order-book sample; Injective: live order book, 39 min ago. Net counts fees only.
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 Orderly no order-book sample | — | — | — | — | — |
| Sell Injective live order book, 39 min ago | 34.65 bp | 34.7 bp −$35 | doesn't fit | doesn't fit | doesn't fit |
Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.000005126 | +0.202% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005112 | −0.066% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005134 | +0.358% | $65K | $144K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005128 | +0.240% | $99.5M | $358.5M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005125 | +0.182% | $166.9M | $81.9M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005136 | +0.389% | $26.0M | $65.3M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005124 | +0.153% | $801K | $4.8M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005152 | +0.705% | $42K | $463K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005123 | +0.152% | $2K | $2.5M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005135 | +0.385% | $583K | $3.7M | 75x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Pacifica kPEPE
Bybit 1000PEPEUSDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000005119 | +0.064% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0208% | 8h | 0.000005130 | +0.281% | $47.4M | $180.0M | 75x | as long as short |
| Injective PEPE/USDC PERPshort | +0.0254% | 1h | 0.000005173 | +1.120% | $3K | $102K | 12x | |
| Orderly PERP_1000PEPE_USDClong | +0.0354% | 8h | 0.000005116 | long leg | $34K | $24K | 20x | |
| OKX PEPE-USDT-SWAP | +0.0382% | 8h | 0.000005134 | +0.358% | $48.3M | $625.9M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0502% | 8h | 0.000005143 | +0.534% | $4.4M | $26.4M | 75x | as long as short |
| Phemex u1000PEPEUSDT | +0.0601% | 8h | 0.000005129 | +0.258% | $2.6M | $7.3M | 50x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0672% | 1h | 0.000005125 | +0.182% | $946K | $33.8M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0704% | 8h | 0.000005133 | +0.346% | — | $262.9M | — | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0729% | 1h | 0.000005114 | −0.033% | $72K | $125K | 25x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0742% | 1h | 0.000005185 | +1.355% | $103K | $744K | 25x | as long as short |
| MEXC PEPE_USDT | +0.0743% | 8h | 0.000005137 | +0.416% | $98.5M | $291.2M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0744% | 8h | 0.000005136 | +0.401% | $146.8M | $1.26B | 75x | as long as short |
| Extended 1000PEPE-USD | +0.0744% | 1h | 0.000005135 | +0.383% | $544K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0744% | 1h | 0.000005167 | +1.003% | $146K | — | 3x | as long as short |
| SoDEX 1000PEPE-USD | +0.0751% | 1h | 0.000005120 | +0.084% | $2K | $10K | 10x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0785% / S −0.1571% | 1h | 0.000005000 | −2.262% | $62K | — | 100x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0799% | 8h | 0.000005131 | +0.305% | $6K | — | 20x | as long as short |
| Lighter 1000PEPE | +0.0832% | 1h | 0.000005122 | +0.123% | $589K | $8.3M | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0843% | 8h | 0.000005130 | +0.273% | $1.8M | $9.6M | 50x | as long as short |
| Nado kPEPE-PERP | +0.0934% | 1h | 0.000005122 | +0.131% | $187K | $899K | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.1120% | 1h | 0.000005129 | +0.260% | $619 | $3K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.1155% | 1h | 0.000005129 | +0.260% | $93K | $666K | 15x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1273% | 1h | 0.000005116 | +0.010% | $4.6M | $16.0M | 50x | as long as short |
| Hyperliquid kPEPE | +0.1581% | 1h | 0.000005137 | +0.416% | $55.4M | $142.1M | 10x | as long as short |
Reya kPEPERUSDPERP
Bitget PEPEUSDT
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Phemex u1000PEPEUSDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
Deribit 1000PEPE_USDC-PERPETUAL
ApeX Omni 1000PEPEUSDT
MEXC PEPE_USDT
Binance 1000PEPEUSDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
SoDEX 1000PEPE-USD
GMX PEPE/USD [ETH-USDC]
Paradex kPEPE-USD-PERP
Lighter 1000PEPE
Aster 1000PEPEUSDT
Nado kPEPE-PERP
01 Exchange kPEPEUSD
Backpack kPEPE_USDC_PERP
Kraken Futures PF_PEPEUSD
Hyperliquid kPEPE