Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0442%/8h= −48.4% APRpaid last 24h −0.032%

Price spread now: KuCoin against ApeX Omni−0.617%97s7-day average +0.005% · 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—prices read too far apart to compare

costs, in and out, $10k−$500.503% of the position

Long on ApeX Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 3 days (all we have)+0.485%+$49 · spread now −0.617%, 7d avg +0.005%

Together, before fees+0.441%+$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and KuCoin is 0.622% cheaper against ApeX Omni than usual: you would sell low and buy high (−$62 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.044% in total (about -2.3% 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	ApeX Omni 1000PEPEUSDT	0.000004816	0.0542	pay 0.0068% / 1h	17m 58s	$102K	$764K	25x
Short	KuCoin PEPEUSDTM	0.000004786	0.0100	get 0.0100% / 8h	1h 17m	$24.7M	$54.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.617%Rate

Funding earned: −$92.89
Price spread: −0.617% → +0.005%: −$62.2
Slippage, 4 orders: −$28.32
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$205.41
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 66 min ago; KuCoin: live order book, 6 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, 66 min ago	4.63 bp	11.9 bp −$12	62.5 bp −$625	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	1.46 bp	13.2 bp −$13	21.6 bp −$216	doesn't fit	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	0.000004786	−0.625%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004789	−0.559%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004791	−0.519%	$666K	$5.8M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004786	−0.623%	$61.9M	$81.5M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004789	−0.561%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004787	−0.600%	$86.6M	$281.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004786	−0.623%	$149.6M	$63.2M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0100%	8h	0.000004786	−0.617%	$24.7M	$54.1M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000004812	−0.085%	$543K	$4.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004816	−0.007%	$27K	$344K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004799	−0.351%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004792	−0.498%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004791	−0.527%	$540K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0125%	8h	0.000004788	−0.590%	$42.0M	$148.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004794	−0.458%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0208%	8h	0.000004790	−0.540%	$41.4M	$489.9M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0299%	8h	0.000004792	−0.504%	$5K	$16	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0338%	1h	0.000004000	−16.944%	$43K	—	100x	as long as short
BloFin PEPE-USDT	+0.0324%	8h	0.000004789	−0.561%	$3.9M	$22.1M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0358%	8h	0.000004792	−0.500%	$2.3M	$6.4M	50x	as long as short
01 Exchange kPEPEUSD	+0.0408%	1h	0.000004795	−0.436%	$549	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004793	−0.478%	$581K	$25.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0450%	8h	0.000004791	−0.515%	$29K	$11K	20x	as long as short
ApeX Omni 1000PEPEUSDTlong	+0.0542%	1h	0.000004816	long leg	$102K	$764K	25x
Backpack kPEPE_USDC_PERP	+0.0564%	1h	0.000004790	−0.542%	$91K	$614K	15x	as long as short
Nado kPEPE-PERP	+0.0761%	1h	0.000004798	−0.381%	$184K	$845K	10x	as long as short
BingX 1000PEPE-USDC	+0.0766%	8h	0.000004790	−0.546%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0774%	8h	0.000004787	−0.604%	$130.0M	$1.04B	75x	as long as short
Extended 1000PEPE-USD	+0.0776%	1h	0.000004787	−0.600%	$526K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0781%	8h	0.000004789	−0.554%	$91.0M	$285.3M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0784%	1h	0.000004795	−0.436%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0789%	8h	0.000004786	−0.616%	$1.5M	$7.1M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0794%	1h	0.000004793	−0.478%	$81K	$94K	25x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004843	+0.561%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1332%	1h	0.000004789	−0.564%	$3.9M	$13.3M	50x	as long as short