Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0056%/8h= +6.2% APRpaid last 24h +0.058%

Price spread now: Deribit against BloFin+0.078%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.169%−$17 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now +0.078%, 7d avg +0.025%

Together, before fees−0.200%−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Deribit is 0.053% dearer against BloFin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.025%. Mind the row above: over the last 7 days funding on this pair cost −0.169%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PEPE-USDT	0.000005122	0.0474	pay 0.0474% / 8h	7h 57m	$4.5M	$30.3M	75x
Short	Deribit 1000PEPE_USDC-PERPETUAL	0.000005126	0.0531	get 0.0066% / 1h	57m 09s	$73K	$128K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.078%Rate

Funding earned: $11.86
Price spread: +0.078% → +0.025%: $5.29
Slippage, 4 orders: −$22.3
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$24.15
Costs to cover: 0.413%
Break-even: 21.3 days

Slippage from BloFin: live order book, 12 min ago; Deribit: live order book, 7 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, 12 min ago	2.90 bp	13.7 bp −$14	16.9 bp −$169	36.7 bp −$3,670	doesn't fit
Sell Deribit live order book, 7 min ago	4.86 bp	10.3 bp −$10	19.5 bp −$195	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	0.000005122	+0.006%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005123	+0.025%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005120	−0.039%	$60K	$186K	10x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005120	−0.039%	$164.1M	$98.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005140	+0.348%	$625K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005135	+0.261%	$28K	$547K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005131	+0.184%	$2K	$2.7M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005127	+0.094%	$600K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0118%	1h	0.000005123	+0.020%	$2K	$11K	10x	as long as short
Injective PEPE/USDC PERP	+0.0147%	1h	0.000005103	−0.371%	$8K	$120K	12x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0151%	8h	0.000005125	+0.066%	$26.8M	$74.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005123	+0.022%	$8K	—	15x	as long as short
Bybit 1000PEPEUSDT	+0.0191%	8h	0.000005122	0.000%	$99.0M	$433.6M	50x	as long as short
Bitget PEPEUSDT	+0.0233%	8h	0.000005122	0.000%	$46.0M	$221.6M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0267%	1h	0.000005136	+0.273%	$150K	$836K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0268%	1h	0.000005123	+0.021%	$76K	$895K	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0354%	8h	0.000005120	−0.039%	$47.0M	$746.8M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0422%	8h	0.000005128	+0.125%	$34K	$26K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0432%	8h	0.000005128	+0.121%	$6K	—	20x	as long as short
Hyperliquid kPEPE	+0.0435%	1h	0.000005125	+0.059%	$53.1M	$159.8M	10x	as long as short
01 Exchange kPEPEUSD	+0.0448%	1h	0.000005127	+0.098%	$618	$2K	10x	as long as short
BloFin PEPE-USDTlong	+0.0474%	8h	0.000005122	long leg	$4.5M	$30.3M	75x
Coinbase International 1000PEPE-PERP-INTX	+0.0504%	1h	0.000005127	+0.098%	$672K	$39.8M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUALshort	+0.0531%	1h	0.000005126	+0.078%	$73K	$128K	25x
Kraken Futures PF_PEPEUSD	+0.0619%	1h	0.000005119	−0.068%	$4.7M	$16.7M	50x	as long as short
Lighter 1000PEPE	+0.0632%	1h	0.000005127	+0.098%	$621K	$9.0M	10x	as long as short
BingX 1000PEPE-USDT	+0.0665%	8h	0.000005122	−0.010%	—	$175.5M	—	as long as short
Extended 1000PEPE-USD	+0.0688%	1h	0.000005121	−0.024%	$537K	$280K	25x	as long as short
MEXC PEPE_USDT	+0.0688%	8h	0.000005124	+0.049%	$99.9M	$305.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0688%	1h	0.000005126	+0.078%	$145K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0688%	8h	0.000005117	−0.088%	$141.3M	$1.51B	75x	as long as short
Aster 1000PEPEUSDT	+0.0700%	8h	0.000005125	+0.053%	$1.7M	$12.0M	50x	as long as short
Nado kPEPE-PERP	+0.0810%	1h	0.000005127	+0.098%	$163K	$964K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1019% / S −0.1217%	1h	0.000005000	−2.382%	$50K	—	100x	as long as short
Phemex u1000PEPEUSDT	+0.2861%	8h	0.000005128	+0.119%	$2.4M	$8.1M	50x	as long as short