Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h −0.014%

Price spread now: BingX against ApeX Omni−1.524%53s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.484% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+1.325%+$133 · spread now −1.524%, 7d avg −0.010%

Together, before fees+1.341%+$134 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 1.514% cheaper against ApeX Omni than usual: you would sell low and buy high (−$151 if the spread goes back to its 7-day average of −0.010%). Swap the legs. The two prices were read 53 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	ApeX Omni 1000PEPEUSDT	0.000005224	0.0819	pay 0.0102% / 1h	8m 31s	$161K	$809K	25x
Short	BingX 1000PEPE-USDC	0.000005144	0.0778	get 0.0778% / 8h	3h 08m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now −1.524%Rate

Funding earned: −$8.6
Price spread: −1.524% → −0.010%: −$151.41
Slippage, 4 orders: −$28.45
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$208.46
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 45 min ago; BingX: live order book, 10 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 ApeX Omni live order book, 45 min ago	4.06 bp	12.3 bp −$12	63.9 bp −$639	doesn't fit	doesn't fit
Sell BingX live order book, 10 min ago	0.76 bp	11.6 bp −$12	22.3 bp −$223	88.3 bp −$8,830	272.4 bp −$136.2K

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	0.000005146	−1.492%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005166	−1.103%	$14K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+1.972%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005151	−1.397%	$65K	$164K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005136	−1.685%	$104.1M	$387.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005145	−1.512%	$169.9M	$89.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005151	−1.405%	$25.8M	$68.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005209	−0.296%	$661K	$5.2M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005220	−0.072%	$29K	$534K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005183	−0.783%	$2K	$2.5M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005178	−0.879%	$583K	$4.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005149	−1.445%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0334%	8h	0.000005148	−1.451%	$49.5M	$192.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0403%	8h	0.000005177	−0.904%	$35K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0419%	8h	0.000005144	−1.531%	$49.1M	$671.8M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0475%	1h	0.000005170	−1.034%	$2K	$10K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0524%	1h	0.000005171	−1.015%	$74K	$126K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0525%	8h	0.000005141	−1.583%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0550%	8h	0.000005168	−1.072%	$4.8M	$28.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0680%	8h	0.000005167	−1.093%	$2.4M	$7.7M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005173	−0.976%	$714K	$36.1M	50x	as long as short
BingX 1000PEPE-USDCshort	+0.0778%	8h	0.000005144	−1.524%	—	$2.3M	—
ApeX Omni 1000PEPEUSDTlong	+0.0819%	1h	0.000005224	long leg	$161K	$809K	25x
Extended 1000PEPE-USD	+0.0824%	1h	0.000005140	−1.609%	$544K	$242K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0824%	1h	0.000005180	−0.842%	$146K	—	3x	as long as short
MEXC PEPE_USDT	+0.0825%	8h	0.000005148	−1.461%	$96.1M	$297.5M	300x	as long as short
Binance 1000PEPEUSDT	+0.0826%	8h	0.000005142	−1.568%	$148.0M	$1.35B	75x	as long as short
Nado kPEPE-PERP	+0.0890%	1h	0.000005143	−1.545%	$177K	$924K	10x	as long as short
Aster 1000PEPEUSDT	+0.0909%	8h	0.000005150	−1.420%	$1.8M	$10.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005142	−1.570%	$620	$3K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1003% / S −0.2028%	1h	0.000005000	−4.288%	$64K	—	100x	as long as short
Lighter 1000PEPE	+0.1096%	1h	0.000005155	−1.321%	$638K	$8.9M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1136%	1h	0.000005163	−1.170%	$67K	$724K	15x	as long as short
Hyperliquid kPEPE	+0.1469%	1h	0.000005150	−1.417%	$55.9M	$146.4M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1582%	1h	0.000005161	−1.206%	$4.7M	$16.4M	50x	as long as short