Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Variational Omni against Bitget−0.359%7-day average −0.085% · you buy dearer than you sell

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

Long on Bitget Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.046%−$5 on $10k

Price spread, last 7 days+0.294%+$29 · spread now −0.359%, 7d avg −0.085%

Together, before fees+0.248%+ Points / potential airdropVariational Omni: Active · farm board+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.273% cheaper against Bitget than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PEPEUSDT	0.000005038	0.0100	pay 0.0100% / 8h	5h 44m	$46.2M	$170.8M	75x
Short	Variational Omni 1000PEPE	0.000005020	0.0100	get 0.0100% / 8h	5h 44m	$706K	$4.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BitgetbpFee Variational OmnibpOrdersPrice spread, now −0.359%Rate

Funding earned: $0
Price spread: −0.359% → −0.085%: −$27.35
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$39.35
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. 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 Bitget live order book, 5 min ago	2.78 bp	10.3 bp −$10	13.3 bp −$133	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	5.00 bp	doesn't fit	27.0 bp −$270	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	0.000005037	−0.014%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005024	−0.274%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005040	+0.046%	$63K	$135K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005027	−0.212%	$98.2M	$332.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005032	−0.113%	$164.8M	$73.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005035	−0.058%	$25.4M	$62.0M	75x	as long as short
Bitget PEPEUSDTlong	+0.0100%	8h	0.000005038	long leg	$46.2M	$170.8M	75x
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000005020	−0.359%	$706K	$4.6M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005022	−0.316%	$27K	$424K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005036	−0.026%	$954	$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	0.000005030	−0.149%	$575K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005033	−0.085%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0299%	8h	0.000005029	−0.173%	$45.6M	$580.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0310%	8h	0.000005036	−0.034%	$33K	$24K	20x	as long as short
BloFin PEPE-USDT	+0.0416%	8h	0.000005035	−0.054%	—	$25.0M	75x	as long as short
BingX 1000PEPE-USDT	+0.0553%	8h	0.000005032	−0.119%	—	$260.7M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0561% / S −0.0860%	1h	0.000005000	−0.748%	$49K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005028	−0.193%	$836K	$30.8M	50x	as long as short
Aevo 1000PEPE-PERP	+0.0584%	1h	0.000005043	+0.105%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0588%	8h	0.000005039	+0.024%	$95.9M	$287.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0592%	8h	0.000005032	−0.109%	$141.8M	$1.19B	75x	as long as short
Extended 1000PEPE-USD	+0.0592%	1h	0.000005034	−0.083%	$533K	$219K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0617%	1h	0.000005036	−0.034%	$2K	$12K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0666%	8h	0.000005039	+0.030%	$2.4M	$7.0M	50x	as long as short
Aster 1000PEPEUSDT	+0.0676%	8h	0.000005033	−0.091%	$1.8M	$8.9M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0736%	8h	0.000005041	+0.065%	$6K	—	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0906%	1h	0.000005037	−0.022%	$99K	$617K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0943%	1h	0.000005034	−0.073%	$61K	$114K	25x	as long as short
Nado kPEPE-PERP	+0.0971%	1h	0.000005029	−0.171%	$186K	$864K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+1.336%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005038	+0.006%	$608	$3K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1034%	1h	0.000005013	−0.490%	$98K	$752K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.1382%	1h	0.000005033	−0.094%	$4.2M	$15.0M	50x	as long as short
Lighter 1000PEPE	+0.1632%	1h	0.000005044	+0.125%	$725K	$8.0M	10x	as long as short
Hyperliquid kPEPE	+0.1793%	1h	0.000005041	+0.066%	$55.4M	$137.3M	10x	as long as short