Funding you earn now, next payment 04:00 UTC+0.0688%/8h= +75.3% APRpaid last 24h +0.169%
Price spread now: Kraken Futures against Phemex+0.150%7-day average −0.047% · you sell dearer than you buy
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$70as in the Price arb table
costs, in and out, $10k−$890.894% of the position
Funding, last 7 days+0.183%+$18 on $10k
+Price spread, last 4 days (all we have)−0.194%−$19 · spread now +0.150%, 7d avg −0.047%
=Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Kraken Futures is 0.197% dearer against Phemex than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.047%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.183% in total (about 9.5% 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.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex u1000PEPEUSDT | 0.000005181 | 0.0567 | pay 0.0567% / 8h | 4h 12m | $2.6M | $7.3M | 50x |
| Short | Kraken Futures PF_PEPEUSD | 0.000005189 | 0.1255 | get 0.0157% / 1h | 12m 22s | $4.7M | $16.0M | 50x |
Phemex u1000PEPEUSDT
Kraken Futures PF_PEPEUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $144.49
- Price spread: +0.150% → −0.047%
- $19.69
- Slippage, 4 orders
- −$67.39
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $74.79
- Costs to cover
- 0.894%
- Break-even
- 3.4 days
Slippage from Phemex: live order book, 2 min ago; Kraken Futures: 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 Phemex live order book, 2 min ago | 14.47 bp | 27.6 bp −$28 | 45.3 bp −$453 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 9.37 bp | 14.7 bp −$15 | 20.2 bp −$202 | 100.2 bp −$10.0K | 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 | 0.000005189 | +0.156% | $19K | $95 | 10x | as long as short |
| gTrade (Gains Network) PEPE/USD | L +0.0006% / S −0.0006% | 1h | 0.000005199 | +0.349% | $15K | — | 150x | as long as short |
| Pacifica kPEPE | +0.0100% | 1h | 0.000005191 | +0.193% | $66K | $146K | 10x | as long as short |
| Bybit 1000PEPEUSDT | +0.0100% | 8h | 0.000005200 | +0.371% | $100.4M | $359.9M | 50x | as long as short |
| Gate PEPE_USDT | +0.0100% | 8h | 0.000005200 | +0.367% | $168.9M | $82.5M | 75x | as long as short |
| KuCoin PEPEUSDTM | +0.0100% | 8h | 0.000005207 | +0.504% | $26.5M | $65.6M | 75x | as long as short |
| Variational Omni 1000PEPE | +0.0100% | 8h | 0.000005163 | −0.355% | $807K | $4.8M | — | as long as short |
| edgeX 1000PEPEUSDC | +0.0100% | 4h | 0.000005168 | −0.250% | $29K | $481K | 20x | as long as short |
| SunX 1000PEPE-USDT | +0.0100% | 8h | 0.000005192 | +0.222% | $2K | $2.5M | 20x | as long as short |
| HTX PEPE-USDT | +0.0100% | 8h | 0.000005193 | +0.230% | $602K | $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 | 0.000005205 | +0.461% | $8K | — | 15x | as long as short |
| Bitget PEPEUSDT | +0.0218% | 8h | 0.000005203 | +0.428% | $48.1M | $180.7M | 75x | as long as short |
| Injective PEPE/USDC PERP | +0.0254% | 1h | 0.000005161 | −0.386% | $3K | $102K | 12x | as long as short |
| Orderly PERP_1000PEPE_USDC | +0.0357% | 8h | 0.000005207 | +0.502% | $34K | $24K | 20x | as long as short |
| OKX PEPE-USDT-SWAP | +0.0396% | 8h | 0.000005203 | +0.425% | $48.5M | $637.7M | 50x | as long as short |
| BloFin PEPE-USDT | +0.0515% | 8h | 0.000005188 | +0.135% | $4.6M | $26.9M | 75x | as long as short |
| Phemex u1000PEPEUSDTlong | +0.0567% | 8h | 0.000005181 | long leg | $2.6M | $7.3M | 50x | |
| Coinbase International 1000PEPE-PERP-INTX | +0.0672% | 1h | 0.000005192 | +0.212% | $979K | $34.4M | 50x | as long as short |
| BingX 1000PEPE-USDT | +0.0713% | 8h | 0.000005206 | +0.490% | — | $263.0M | — | as long as short |
| Extended 1000PEPE-USD | +0.0752% | 1h | 0.000005208 | +0.519% | $550K | $226K | 25x | as long as short |
| Aevo 1000PEPE-PERP | +0.0752% | 1h | 0.000005202 | +0.405% | $147K | — | 3x | as long as short |
| MEXC PEPE_USDT | +0.0754% | 8h | 0.000005210 | +0.560% | $100.3M | $292.3M | 300x | as long as short |
| Binance 1000PEPEUSDT | +0.0757% | 8h | 0.000005208 | +0.515% | $148.3M | $1.27B | 75x | as long as short |
| SoDEX 1000PEPE-USD | +0.0759% | 1h | 0.000005190 | +0.174% | $2K | $10K | 10x | as long as short |
| Paradex kPEPE-USD-PERP | +0.0806% | 8h | 0.000005201 | +0.382% | $6K | — | 20x | as long as short |
| ApeX Omni 1000PEPEUSDT | +0.0806% | 1h | 0.000005166 | −0.290% | $104K | $745K | 25x | as long as short |
| GMX PEPE/USD [ETH-USDC] | L +0.0811% / S −0.1632% | 1h | 0.000005000 | −3.494% | $63K | — | 100x | as long as short |
| Lighter 1000PEPE | +0.0832% | 1h | 0.000005193 | +0.232% | $618K | $8.3M | 10x | as long as short |
| Aster 1000PEPEUSDT | +0.0861% | 8h | 0.000005211 | +0.580% | $1.9M | $9.6M | 50x | as long as short |
| Deribit 1000PEPE_USDC-PERPETUAL | +0.0904% | 1h | 0.000005204 | +0.444% | $74K | $125K | 25x | as long as short |
| Nado kPEPE-PERP | +0.0937% | 1h | 0.000005202 | +0.415% | $187K | $903K | 10x | as long as short |
| 01 Exchange kPEPEUSD | +0.1104% | 1h | 0.000005219 | +0.733% | $630 | $3K | 10x | as long as short |
| Backpack kPEPE_USDC_PERP | +0.1141% | 1h | 0.000005187 | +0.120% | $70K | $691K | 15x | as long as short |
| Kraken Futures PF_PEPEUSDshort | +0.1255% | 1h | 0.000005189 | +0.150% | $4.7M | $16.0M | 50x | |
| Hyperliquid kPEPE | +0.1583% | 1h | 0.000005212 | +0.598% | $56.3M | $142.3M | 10x | as long as short |
Reya kPEPERUSDPERP
Bitget PEPEUSDT
Injective PEPE/USDC PERP
Orderly PERP_1000PEPE_USDC
OKX PEPE-USDT-SWAP
BloFin PEPE-USDT
Coinbase International 1000PEPE-PERP-INTX
BingX 1000PEPE-USDT
Extended 1000PEPE-USD
Aevo 1000PEPE-PERP
MEXC PEPE_USDT
Binance 1000PEPEUSDT
SoDEX 1000PEPE-USD
Paradex kPEPE-USD-PERP
ApeX Omni 1000PEPEUSDT
GMX PEPE/USD [ETH-USDC]
Lighter 1000PEPE
Aster 1000PEPEUSDT
Deribit 1000PEPE_USDC-PERPETUAL
Nado kPEPE-PERP
01 Exchange kPEPEUSD
Backpack kPEPE_USDC_PERP
Hyperliquid kPEPE