Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0260%/8h= −28.4% APRpaid last 24h +0.084%

Price spread now: Injective against Binance−0.050%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.383%+$38 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Injective is 0.050% cheaper against Binance than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.383%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000PEPEUSDT	0.000004807	0.0815	pay 0.0815% / 8h	2h 34m	$127.5M	$1.02B	75x
Short	Injective PEPE/USDC PERP	0.000004805	0.0555	get 0.0069% / 1h	34m 40s	$4K	$92K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.050%Rate

Funding earned: −$54.5
Price spread: −0.050% → 0.000%: −$4.99
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$69.52
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 9 min ago; Injective: no order-book sample. Net counts fees only.

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, 9 min ago	0.31 bp	8.6 bp −$9	13.5 bp −$135	37.9 bp −$3,789	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.000004796	−0.241%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004795	−0.262%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004801	−0.133%	$56.6M	$69.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004803	−0.092%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004800	−0.154%	$88.6M	$273.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004797	−0.216%	$148.5M	$61.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004803	−0.102%	$23.7M	$52.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	−0.168%	$705K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004821	+0.283%	$27K	$337K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004807	−0.004%	$1K	$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	0.000004805	−0.054%	$553K	$3.6M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0125%	8h	0.000004804	−0.071%	$41.3M	$487.9M	50x	as long as short
Bitget PEPEUSDT	+0.0169%	8h	0.000004800	−0.154%	$43.3M	$152.1M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004803	−0.087%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0241%	8h	0.000004806	−0.029%	$3.9M	$21.7M	75x	as long as short
Lighter 1000PEPE	+0.0288%	1h	0.000004803	−0.092%	$591K	$5.1M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.795%	$52K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0370%	8h	0.000004804	−0.069%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0373%	8h	0.000004800	−0.154%	$30K	$10K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0423%	1h	0.000004805	−0.056%	$95K	$623K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004802	−0.112%	$584K	$25.3M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0467%	8h	0.000004805	−0.056%	$2.3M	$6.3M	50x	as long as short
Injective PEPE/USDC PERPshort	+0.0555%	1h	0.000004805	−0.050%	$4K	$92K	12x
SoDEX 1000PEPE-USD	+0.0582%	1h	0.000004801	−0.133%	$2K	$9K	10x	as long as short
Nado kPEPE-PERP	+0.0665%	1h	0.000004800	−0.146%	$179K	$865K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0670%	1h	0.000004816	+0.179%	$100K	$758K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0763%	1h	0.000004802	−0.116%	$3.9M	$13.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0767%	8h	0.000004803	−0.094%	—	$254.8M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0792%	1h	0.000004802	−0.112%	$81K	$94K	25x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004801	−0.135%	$526K	$146K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0808%	1h	0.000004808	+0.012%	$136K	—	3x	as long as short
MEXC PEPE_USDT	+0.0809%	8h	0.000004807	−0.017%	$89.8M	$289.3M	300x	as long as short
Binance 1000PEPEUSDTlong	+0.0815%	8h	0.000004807	long leg	$127.5M	$1.02B	75x
Aster 1000PEPEUSDT	+0.0849%	8h	0.000004801	−0.136%	$1.5M	$6.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.1240%	1h	0.000004808	+0.012%	$551	$2K	10x	as long as short