Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0419%/8h= −45.9% APRpaid last 24h −0.036%

Price spread now: Pacifica against Binance−0.085%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Binance Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.085%, 7d avg −0.012%

Together, before fees+0.091%+ Points / potential airdropPacifica: Active · farm board+$9 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 Pacifica is 0.073% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.011% in total (about 0.6% 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	0.000004898	0.0519	pay 0.0519% / 8h	7h 42m	$138.1M	$1.09B	75x
Short	Pacifica kPEPE	0.000004894	0.0100	get 0.0013% / 1h	42m 15s	$57K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.085%Rate

Funding earned: −$88.05
Price spread: −0.085% → −0.012%: −$7.29
Slippage, 4 orders: −$17.16
Fee Binance: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$130.5
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Pacifica: live order book, 30 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, 2 min ago	0.10 bp	5.4 bp −$5	6.4 bp −$64	30.6 bp −$3,061	doesn't fit
Sell Pacifica live order book, 30 min ago	7.41 bp	13.0 bp −$13	21.4 bp −$214	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
Kraken Futures PF_PEPEUSD	−0.0120%	1h	0.000004896	−0.042%	$3.9M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004891	−0.152%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004894	−0.083%	$15K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004895	−0.065%	$61.7M	$109.8M	10x	as long as short
Pacifica kPEPEshort	+0.0100%	1h	0.000004894	−0.085%	$57K	$119K	10x
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004888	−0.218%	$89.5M	$300.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004893	−0.106%	$155.8M	$65.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004897	−0.020%	$24.7M	$56.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004895	−0.075%	$42.9M	$152.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004859	−0.805%	$574K	$4.3M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004868	−0.611%	$26K	$353K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004902	+0.084%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004896	−0.044%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004892	−0.118%	$555K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004897	−0.028%	$2.3M	$6.5M	50x	as long as short
Lighter 1000PEPE	+0.0152%	1h	0.000004899	+0.017%	$572K	$6.7M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0185%	8h	0.000004896	−0.047%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004893	−0.102%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0191%	8h	0.000004891	−0.146%	$43.3M	$518.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0307%	8h	0.000004894	−0.077%	$30K	$13K	20x	as long as short
BloFin PEPE-USDT	+0.0312%	8h	0.000004890	−0.167%	$4.0M	$23.2M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004896	−0.044%	$557K	$26.5M	50x	as long as short
Nado kPEPE-PERP	+0.0379%	1h	0.000004898	−0.013%	$186K	$849K	10x	as long as short
01 Exchange kPEPEUSD	+0.0416%	1h	0.000004901	+0.058%	$1K	$2K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0449% / S −0.0665%	1h	0.000004000	−18.337%	$46K	—	100x	as long as short
BingX 1000PEPE-USDT	+0.0506%	8h	0.000004891	−0.140%	—	$256.4M	—	as long as short
Binance 1000PEPEUSDTlong	+0.0519%	8h	0.000004898	long leg	$138.1M	$1.09B	75x
Extended 1000PEPE-USD	+0.0520%	1h	0.000004896	−0.054%	$538K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0520%	1h	0.000004895	−0.065%	$138K	—	3x	as long as short
MEXC PEPE_USDT	+0.0522%	8h	0.000004892	−0.124%	$96.6M	$281.4M	300x	as long as short
Aster 1000PEPEUSDT	+0.0533%	8h	0.000004898	−0.006%	$1.5M	$7.5M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0588%	1h	0.000004871	−0.555%	$101K	$754K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0608%	1h	0.000004894	−0.077%	$94K	$598K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004875	−0.473%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0976%	1h	0.000004898	−0.003%	$79K	$98K	25x	as long as short