Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0204%/8h= +22.4% APRpaid last 24h +0.005%

Price spread now: Coinbase International against BloFin+0.831%58s7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as 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−$410.413% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.232%−$23 on $10k

Price spread, last 3 days (all we have)−0.922%−$92 · spread now +0.831%, 7d avg +0.017%

Together, before fees−1.154%−$115 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.814% dearer against BloFin than usual: you sell high and buy low: +$81 more if the spread goes back to its 7-day average of +0.017%. Mind the row above: over the last 7 days funding on this pair cost −0.232%, so the current rate has only just turned in your favour. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PEPE-USDT	0.000004813	0.0260	pay 0.0260% / 8h	2h 25m	$3.9M	$21.7M	75x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000004853	0.0464	get 0.0058% / 1h	25m 44s	$582K	$25.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +0.831%Rate

Funding earned: $42.91
Price spread: +0.831% → +0.017%: $81.43
Slippage, 4 orders: −$19.35
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $83
Costs to cover: 0.413%
Break-even: from the start

Slippage from BloFin: live order book, 3 min ago; Coinbase International: live order book, 3 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 BloFin live order book, 3 min ago	3.12 bp	9.1 bp −$9	13.5 bp −$135	27.9 bp −$2,786	doesn't fit
Sell Coinbase International live order book, 3 min ago	4.16 bp	13.0 bp −$13	16.9 bp −$169	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	0.000004842	+0.599%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004844	+0.644%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004847	+0.706%	$57.7M	$70.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004841	+0.582%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004849	+0.748%	$88.0M	$274.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004842	+0.603%	$150.9M	$62.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004846	+0.692%	$25.1M	$53.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	−0.285%	$702K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004804	−0.197%	$27K	$338K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004861	+0.991%	$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	0.000004856	+0.898%	$559K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0147%	8h	0.000004855	+0.873%	$41.6M	$489.7M	50x	as long as short
Bitget PEPEUSDT	+0.0178%	8h	0.000004847	+0.704%	$43.3M	$151.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004848	+0.734%	$7K	—	15x	as long as short
BloFin PEPE-USDTlong	+0.0260%	8h	0.000004813	long leg	$3.9M	$21.7M	75x
GMX PEPE/USD [ETH-USDC]	L +0.0319% / S −0.0217%	1h	0.000004000	−16.892%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0390%	8h	0.000004856	+0.885%	$30K	$11K	20x	as long as short
Lighter 1000PEPE	+0.0440%	1h	0.000004850	+0.769%	$620K	$5.2M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0449%	8h	0.000004840	+0.554%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0457%	8h	0.000004853	+0.833%	$2.3M	$6.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0464%	1h	0.000004853	+0.831%	$582K	$25.4M	50x
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004809	−0.083%	$4K	$110K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0611%	1h	0.000004852	+0.821%	$95K	$623K	15x	as long as short
Nado kPEPE-PERP	+0.0693%	1h	0.000004848	+0.728%	$192K	$856K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0726%	1h	0.000004803	−0.208%	$99K	$759K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0755%	1h	0.000004851	+0.783%	$3.9M	$13.1M	50x	as long as short
BingX 1000PEPE-USDC	+0.0784%	8h	0.000004844	+0.652%	—	$2.3M	—	as long as short
SoDEX 1000PEPE-USD	+0.0812%	1h	0.000004851	+0.790%	$2K	$9K	10x	as long as short
MEXC PEPE_USDT	+0.0831%	8h	0.000004850	+0.771%	$91.3M	$290.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0832%	1h	0.000004840	+0.561%	$137K	—	3x	as long as short
Extended 1000PEPE-USD	+0.0840%	1h	0.000004849	+0.747%	$532K	$147K	25x	as long as short
Binance 1000PEPEUSDT	+0.0845%	8h	0.000004851	+0.796%	$129.1M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0886%	8h	0.000004854	+0.861%	$1.5M	$6.8M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0988%	1h	0.000004854	+0.852%	$82K	$94K	25x	as long as short
01 Exchange kPEPEUSD	+0.1256%	1h	0.000004859	+0.956%	$557	$2K	10x	as long as short