Funding you earn now, next payment 00:00 UTC−0.0247%/8h= −27.1% APRnext payment −$2.47 per $10,000 · paid last 24h −0.016%
Price spread now: Gate against Phemex−0.225%7-day average −0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as in the Funding arb table
Net, price: spread back to 7d avg − costs−$73as in the Price arb table
costs, in and out, $10k−$570.572% of the position
Funding, last 7 days+0.019%+$2 on $10k
+Price spread, last 3 days (all we have)+0.068%+$7 · spread now −0.225%, 7d avg −0.064%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Gate is 0.161% cheaper against Phemex than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of −0.064%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.019% in total (about 1.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.47 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 | Phemex u1000PEPEUSDT | 0.000004802 | 0.0347 | pay 0.0347% / 8h | 1h 13m | $2.3M | $6.4M | 50x |
| Short | Gate PEPE_USDT | 0.000004791 | 0.0100 | get 0.0100% / 8h | 1h 13m | $149.9M | $63.3M | 75x |
Phemex u1000PEPEUSDT
Gate PEPE_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Phemex. 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
- −$51.96
- Price spread: −0.225% → −0.064%
- −$16.09
- Slippage, 4 orders
- −$30.22
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$125.26
- Costs to cover
- 0.572%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; Gate: live order book, 5 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, 5 min ago | 4.17 bp | 14.5 bp −$15 | 29.5 bp −$295 | doesn't fit | doesn't fit |
| Sell Gate live order book, 5 min ago | 1.04 bp | 12.1 bp −$12 | 19.1 bp −$191 | 76.0 bp −$7,603 | 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 | 0.000004795 | −0.150% | $18K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000004786 | −0.319% | $14K | — | 150x | as long as short |
| Lighter 1000PEPE | +0.0096% | 1h | 0.000004799 | −0.058% | $660K | $6.0M | 10x | as long as short |
| Hyperliquid kPEPE | +0.0100% | 1h | 0.000004786 | −0.329% | $62.3M | $82.5M | 10x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000004798 | −0.079% | $59K | $114K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000004789 | −0.267% | $86.9M | $282.7M | 50x | as long as short |
| Gate PEPE_USDTshort | +0.0100% | 8h | 0.000004791 | −0.225% | $149.9M | $63.3M | 75x | |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000004791 | −0.229% | $24.7M | $54.0M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000004782 | −0.414% | $541K | $4.0M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000004784 | −0.366% | $27K | $345K | 20x | as long as short |
dYdX PEPE-USD
gTrade (Gains Network) PEPE/USD
Lighter 1000PEPE
Hyperliquid kPEPE
Pacifica kPEPE
Bybit 1000PEPEUSDT
KuCoin PEPEUSDTM
Variational Omni 1000PEPE
edgeX 1000PEPEUSDCShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000004807 | +0.110% | $2K | $2.4M | 20x | as long as short |
| SoDEX 1000PEPE-USD | +0.0100% | 1h | 0.000004803 | +0.025% | $2K | $12K | 10x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000004810 | +0.173% | $542K | $3.5M | 75x | as long as short |
| Bitget PEPEUSDT | +0.0118% | 8h | 0.000004789 | −0.258% | $42.1M | $148.8M | 75x | as long as short |
| Reya kPEPERUSDPERP | +0.0189% | 1h | 0.000004790 | −0.236% | $7K | — | 15x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0216% | 8h | 0.000004793 | −0.183% | $41.5M | $491.1M | 50x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0283% | 8h | 0.000004802 | +0.004% | $5K | $16 | 20x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0323% / S −0.0346% | 1h | 0.000004000 | −16.698% | $43K | — | 100x | as long as short |
| BloFin PEPE-USDT | +0.0337% | 8h | 0.000004812 | +0.212% | $3.9M | $22.2M | 75x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0347% | 8h | 0.000004802 | long leg | $2.3M | $6.4M | 50x | |
| 01 Exchange kPEPEUSD | +0.0416% | 1h | 0.000004791 | −0.225% | $549 | $2K | 10x | as long as short |
| Coinbase International 1000PEPE-PERP-INTX | +0.0448% | 1h | 0.000004804 | +0.046% | $588K | $25.5M | 50x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0451% | 8h | 0.000004800 | −0.035% | $29K | $11K | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0471% | 1h | 0.000004779 | −0.475% | $102K | $763K | 25x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.0558% | 1h | 0.000004802 | +0.002% | $93K | $614K | 15x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0584% | 1h | 0.000004799 | −0.058% | $81K | $94K | 25x | as long as short |
| BingX 1000PEPE-USDC | +0.0749% | 8h | 0.000004795 | −0.152% | — | $2.3M | — | as long as short |
| Nado kPEPE-PERP | +0.0758% | 1h | 0.000004790 | −0.250% | $184K | $845K | 10x | as long as short |
| Binance 1000PEPEUSDT | +0.0760% | 8h | 0.000004793 | −0.194% | $130.1M | $1.04B | 75x | as long as short |
| MEXC PEPE_USDT | +0.0764% | 8h | 0.000004793 | −0.187% | $91.2M | $285.7M | 300x | as long as short |
| Extended 1000PEPE-USD | +0.0768% | 1h | 0.000004790 | −0.246% | $526K | $148K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0768% | 1h | 0.000004804 | +0.046% | $136K | — | 3x | as long as short |
| Aster 1000PEPEUSDT | +0.0780% | 8h | 0.000004798 | −0.083% | $1.5M | $7.1M | 50x | as long as short |
| Injective PEPE/USDC PERP | +0.0873% | 1h | 0.000004785 | −0.350% | $4K | $103K | 12x | as long as short |
| Kraken Futures PF_PEPEUSD | +0.1328% | 1h | 0.000004802 | +0.008% | $3.9M | $13.3M | 50x | as long as short |
SunX 1000PEPE-USDT
SoDEX 1000PEPE-USD
HTX PEPE-USDT
Bitget PEPEUSDT
Reya kPEPERUSDPERP
OKX PEPE-USDT-SWAP
Paradex kPEPE-USD-PERP
GMX PEPE/USD [ETH-USDC]
BloFin PEPE-USDT
01 Exchange kPEPEUSD
Coinbase International 1000PEPE-PERP-INTX
Orderly PERP_1000PEPE_USDC
ApeX Omni 1000PEPEUSDT
Backpack kPEPE_USDC_PERP
Deribit 1000PEPE_USDC-PERPETUAL
BingX 1000PEPE-USDC
Nado kPEPE-PERP
Binance 1000PEPEUSDT
MEXC PEPE_USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
Aster 1000PEPEUSDT
Injective PEPE/USDC PERP
Kraken Futures PF_PEPEUSD