Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0387%/8h= +42.4% APRpaid last 24h +0.005%

Price spread now: ApeX Omni against Binance+0.364%59s7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as 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−$420.421% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.163%−$16 · spread now +0.364%, 7d avg −0.035%

Together, before fees−0.145%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and ApeX Omni is 0.400% dearer against Binance than usual: you sell high and buy low: +$40 more if the spread goes back to its 7-day average of −0.035%. The two prices were read 59 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 0.019% in total (about 1.0% 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	Binance 1000PEPEUSDT	0.000005047	0.0605	pay 0.0605% / 8h	5h 38m	$141.5M	$1.20B	75x
Short	ApeX Omni 1000PEPEUSDT	0.000005065	0.0992	get 0.0124% / 1h	38m 38s	$99K	$752K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now +0.364%Rate

Funding earned: $81.34
Price spread: +0.364% → −0.035%: $39.96
Slippage, 4 orders: −$22.05
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $79.24
Costs to cover: 0.421%
Break-even: 0.2 days

Slippage from Binance: live order book, 5 min ago; ApeX Omni: live order book, 25 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 Binance live order book, 5 min ago	0.69 bp	7.8 bp −$8	13.0 bp −$130	38.8 bp −$3,878	doesn't fit
Sell ApeX Omni live order book, 25 min ago	5.32 bp	13.1 bp −$13	62.0 bp −$620	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	0.000005046	−0.002%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005035	−0.236%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005058	+0.226%	$64K	$136K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005043	−0.068%	$98.7M	$334.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005050	+0.067%	$165.7M	$74.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005051	+0.097%	$25.4M	$62.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005056	+0.178%	$46.5M	$171.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005050	+0.058%	$680K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005056	+0.192%	$27K	$423K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005058	+0.230%	$2K	$2.4M	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	0.000005048	+0.022%	$575K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005045	−0.038%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0309%	8h	0.000005048	+0.028%	$45.9M	$583.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0315%	8h	0.000005041	−0.117%	$33K	$24K	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0346%	1h	0.000005036	−0.210%	$61K	$114K	25x	as long as short
BloFin PEPE-USDT	+0.0424%	8h	0.000005043	−0.072%	$4.3M	$25.1M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0557%	1h	0.000005040	−0.131%	$2K	$12K	10x	as long as short
BingX 1000PEPE-USDC	+0.0562%	8h	0.000005050	+0.065%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0572% / S −0.0881%	1h	0.000005000	−0.924%	$49K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005053	+0.127%	$836K	$31.0M	50x	as long as short
Aevo 1000PEPE-PERP	+0.0600%	1h	0.000005043	−0.072%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0604%	8h	0.000005057	+0.208%	$96.2M	$287.9M	300x	as long as short
Binance 1000PEPEUSDTlong	+0.0605%	8h	0.000005047	long leg	$141.5M	$1.20B	75x
Extended 1000PEPE-USD	+0.0608%	1h	0.000005053	+0.128%	$536K	$221K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0671%	8h	0.000005045	−0.034%	$2.4M	$7.0M	50x	as long as short
Aster 1000PEPEUSDT	+0.0700%	8h	0.000005052	+0.103%	$1.8M	$9.0M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0755%	8h	0.000005050	+0.059%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0887%	1h	0.000005049	+0.043%	$184K	$866K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0928%	1h	0.000005039	−0.153%	$98K	$618K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+1.157%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0976%	1h	0.000005058	+0.226%	$610	$3K	10x	as long as short
ApeX Omni 1000PEPEUSDTshort	+0.0992%	1h	0.000005065	+0.364%	$99K	$752K	25x
Kraken Futures PF_PEPEUSD	+0.1381%	1h	0.000005039	−0.151%	$4.2M	$15.1M	50x	as long as short
Lighter 1000PEPE	+0.1472%	1h	0.000005062	+0.305%	$719K	$8.0M	10x	as long as short
Hyperliquid kPEPE	+0.1811%	1h	0.000005062	+0.305%	$55.7M	$137.3M	10x	as long as short