Settings8H · net · $10k
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Funding arb · Price arb /

PEPE

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 02:00 UTC+0.0801%/8h= +87.7% APRnext payment +$1.00 per $10,000 · paid last 24h +0.015%
Price spread now: Deribit against ApeX Omni+0.849%7-day average +0.019% · you sell dearer than you buy
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs+$38as in the Price arb table
costs, in and out, $10k−$450.452% of the position
Long on ApeX OmniShort on Deribit
What this pair did over the last
the charts below follow
Funding, last 7 days−0.030%−$3 on $10k
Price spread, last 3 days (all we have)−0.775%−$78 · spread now +0.849%, 7d avg +0.019%
Together, before fees−0.806%−$81 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Deribit is 0.830% dearer against ApeX Omni than usual: you sell high and buy low: +$83 more if the spread goes back to its 7-day average of +0.019%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.030% in total (about -1.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.00 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongApeX Omni 1000PEPEUSDT0.0000050650.0321pay 0.0040% / 1h26m 28s$107K$746K25x
ShortDeribit 1000PEPE_USDC-PERPETUAL0.0000051080.1122get 0.0140% / 1h26m 28s$62K$114K25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Deribit 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

Funding earned
$168.28
Price spread: +0.849% → +0.019%
$82.97
Slippage, 4 orders
−$28.23
Fee ApeX Omni: 5 bp × 2 orders
−$10
Fee Deribit: 3.5 bp × 2 orders
−$7
Net
$206.01
Costs to cover
0.452%
Break-even
from the start
Slippage from ApeX Omni: live order book, 42 min ago; Deribit: live order book, 7 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy ApeX Omni live order book, 42 min ago5.63 bp13.3 bp −$1373.3 bp −$733doesn't fitdoesn't fit
Sell Deribit live order book, 7 min ago5.97 bp9.5 bp −$9doesn't fitdoesn't fitdoesn't fit

PEPE on 34 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
dYdX PEPE-USD0.0000%1h0.000005107+0.822%$19K$9510xas long as short
gTrade (Gains Network) PEPE/USDL +0.0005% / S −0.0005%1h0.000005101+0.717%$14K—150xas long as short
Pacifica kPEPE+0.0100%1h0.000005113+0.948%$62K$125K10xas long as short
Bybit 1000PEPEUSDT+0.0100%8h0.000005097+0.632%$99.0M$323.1M50xas long as short
Gate PEPE_USDT+0.0100%8h0.000005110+0.888%$162.8M$70.7M75xas long as short
KuCoin PEPEUSDTM+0.0100%8h0.000005112+0.930%$25.3M$60.3M75xas long as short
Bitget PEPEUSDT+0.0100%8h0.000005118+1.050%$47.4M$160.5M75xas long as short
Variational Omni 1000PEPE+0.0100%8h0.000005030−0.697%$565K$4.5M—as long as short
edgeX 1000PEPEUSDC+0.0100%4h0.000005065+0.006%$27K$406K20xas long as short
SunX 1000PEPE-USDT+0.0100%8h0.000005114+0.960%$2K$2.4M20xas long as short
Show all 34 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
HTX PEPE-USDT+0.0100%8h0.000005103+0.752%$575K$3.6M75xas long as short
Reya kPEPERUSDPERP+0.0189%1h0.000005107+0.837%$8K—15xas long as short
Phemex u1000PEPEUSDT+0.0215%8h0.000005098+0.648%$2.4M$6.9M50xas long as short
OKX PEPE-USDT-SWAP+0.0230%8h0.000005101+0.711%$45.4M$571.5M50xas long as short
Orderly PERP_1000PEPE_USDC+0.0277%8h0.000005108+0.843%$34K$23K20xas long as short
ApeX Omni 1000PEPEUSDTlong+0.0321%1h0.000005065long leg$107K$746K25x
Coinbase International 1000PEPE-PERP-INTX+0.0424%1h0.000005110+0.888%$661K$29.5M50xas long as short
BingX 1000PEPE-USDC+0.0479%8h0.000005114+0.967%—$2.3M—as long as short
GMX PEPE/USD [ETH-USDC]L +0.0509% / S −0.0477%1h0.000005000−1.283%$60K—100xas long as short
Aevo 1000PEPE-PERP+0.0512%1h0.000005108+0.849%$144K—3xas long as short
Extended 1000PEPE-USD+0.0520%1h0.000005116+1.014%$563K$199K25xas long as short
MEXC PEPE_USDT+0.0520%8h0.000005112+0.920%$95.9M$290.4M300xas long as short
Binance 1000PEPEUSDT+0.0526%8h0.000005107+0.827%$144.3M$1.17B75xas long as short
Paradex kPEPE-USD-PERP+0.0548%8h0.000005110+0.894%$6K$1620xas long as short
Nado kPEPE-PERP+0.0595%1h0.000005104+0.775%$183K$881K10xas long as short
SoDEX 1000PEPE-USD+0.0620%1h0.000005104+0.770%$2K$12K10xas long as short
Aster 1000PEPEUSDT+0.0629%8h0.000005115+0.979%$1.7M$8.1M50xas long as short
Kraken Futures PF_PEPEUSD+0.0816%1h0.000005102+0.734%$4.0M$14.5M50xas long as short
Injective PEPE/USDC PERP+0.0909%1h0.000005070+0.099%$4K$102K12xas long as short
Backpack kPEPE_USDC_PERP+0.0933%1h0.000005109+0.869%$103K$616K15xas long as short
01 Exchange kPEPEUSD+0.0984%1h0.000005117+1.027%$1K$2K10xas long as short
Deribit 1000PEPE_USDC-PERPETUALshort+0.1122%1h0.000005108+0.849%$62K$114K25x
Lighter 1000PEPE+0.1512%1h0.000005122+1.125%$1.1M$7.4M10xas long as short
Hyperliquid kPEPE+0.2243%1h0.000005127+1.224%$56.6M$135.9M10xas long as short