PEPE

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0086%/8h= −9.4% APRnext payment −$0.86 per $10,000 · paid last 24h +0.003%

Price spread now: Bitget against Phemex−0.055%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now −0.055%, 7d avg −0.026%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.029% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.026%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000PEPEUSDT	0.000004750	0.0186	pay 0.0186% / 8h	25m 13s	$2.3M	$6.5M	50x
Short	Bitget PEPEUSDT	0.000004747	0.0100	get 0.0100% / 8h	25m 13s	$41.9M	$150.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$18.05
Price spread: −0.055% → −0.026%: −$2.92
Slippage, 4 orders: −$31.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$76.63
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Bitget: live order book, 4 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 Phemex live order book, 4 min ago	2.62 bp	15.1 bp −$15	34.6 bp −$346	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.52 bp	9.4 bp −$9	11.0 bp −$110	21.1 bp −$2,113	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
Hyperliquid kPEPE	−0.0181%	1h	0.000004736	−0.284%	$66.3M	$93.7M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004750	+0.008%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004741	−0.185%	$13K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004750	+0.018%	$3.8M	$13.7M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004750	+0.011%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004744	−0.116%	$85.5M	$290.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004739	−0.221%	$149.0M	$64.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004748	−0.025%	$24.1M	$54.5M	75x	as long as short
Bitget PEPEUSDTshort	+0.0100%	8h	0.000004747	−0.055%	$41.9M	$150.4M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000004753	+0.073%	$536K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004770	+0.432%	$25K	$348K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004769	+0.411%	$99K	$754K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004759	+0.208%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004751	+0.032%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004738	−0.246%	$537K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0120%	1h	0.000004751	+0.032%	$588K	$6.4M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0180%	8h	0.000004753	+0.064%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDTlong	+0.0186%	8h	0.000004750	long leg	$2.3M	$6.5M	50x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004745	−0.093%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0204%	8h	0.000004749	−0.011%	$41.1M	$494.3M	50x	as long as short
01 Exchange kPEPEUSD	+0.0264%	1h	0.000004742	−0.158%	$543	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0326%	8h	0.000004743	−0.137%	$3.9M	$22.2M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0381% / S −0.0343%	1h	0.000004000	−15.781%	$46K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0383%	8h	0.000004748	−0.032%	$30K	$12K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004752	+0.053%	$560K	$25.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004768	+0.390%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0584%	1h	0.000004748	−0.025%	$90K	$602K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0593%	1h	0.000004748	−0.032%	$76K	$98K	25x	as long as short
BingX 1000PEPE-USDC	+0.0598%	8h	0.000004747	−0.042%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0605%	8h	0.000004749	−0.004%	$130.9M	$1.06B	75x	as long as short
Aster 1000PEPEUSDT	+0.0605%	8h	0.000004747	−0.042%	$1.5M	$7.3M	50x	as long as short
Extended 1000PEPE-USD	+0.0608%	1h	0.000004749	−0.011%	$521K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0608%	1h	0.000004751	+0.032%	$134K	—	3x	as long as short
MEXC PEPE_USDT	+0.0609%	8h	0.000004742	−0.168%	$89.6M	$281.4M	300x	as long as short
Nado kPEPE-PERP	+0.0666%	1h	0.000004742	−0.160%	$181K	$849K	10x	as long as short