Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0215%/8h= −23.5% APRpaid last 24h −0.045%

Price spread now: edgeX against BloFin−0.947%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$330.335% of the position

Long on BloFin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 on $10k

Price spread, last 3 days (all we have)+0.902%+$90 · spread now −0.947%, 7d avg −0.024%

Together, before fees+0.720%+ Points / potential airdropedgeX: Active · farm board+$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and edgeX is 0.923% cheaper against BloFin than usual: you would sell low and buy high (−$92 if the spread goes back to its 7-day average of −0.024%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PEPE-USDT	0.000005074	0.0315	pay 0.0315% / 8h	7h 09m	$4.2M	$24.5M	75x
Short	edgeX 1000PEPEUSDC	0.000005026	0.0100	get 0.0050% / 4h	3h 09m	$52K	$379K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.947%Rate

Funding earned: −$45.11
Price spread: −0.947% → −0.024%: −$92.26
Slippage, 4 orders: −$12.49
Fee BloFin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$170.86
Costs to cover: 0.335%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; edgeX: live order book, 64 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, 5 min ago	4.94 bp	11.6 bp −$12	16.0 bp −$160	37.2 bp −$3,722	doesn't fit
Sell edgeX live order book, 64 min ago	0.85 bp	5.5 bp −$5	9.1 bp −$91	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	−0.0115%	1h	0.000005076	+0.035%	$4.0M	$14.3M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005055	−0.382%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005076	+0.047%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005057	−0.335%	$59K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005070	−0.075%	$95.6M	$310.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005081	+0.138%	$163.3M	$68.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005086	+0.236%	$25.9M	$57.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005082	+0.156%	$45.3M	$155.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005026	−0.952%	$588K	$4.4M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000005026	−0.947%	$52K	$379K	20x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005089	+0.288%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005077	+0.059%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005085	+0.211%	$569K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005070	−0.069%	$2.4M	$6.8M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005083	+0.168%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0193%	8h	0.000005070	−0.079%	$45.2M	$547.9M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0236%	1h	0.000005028	−0.907%	$110K	$753K	25x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0274%	8h	0.000005074	−0.002%	$31K	$17K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0279%	8h	0.000005079	+0.096%	$6K	$16	20x	as long as short
BloFin PEPE-USDTlong	+0.0315%	8h	0.000005074	long leg	$4.2M	$24.5M	75x
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000005081	+0.138%	$604K	$28.3M	50x	as long as short
BingX 1000PEPE-USDT	+0.0459%	8h	0.000005081	+0.146%	—	$257.6M	—	as long as short
Extended 1000PEPE-USD	+0.0472%	1h	0.000005075	+0.010%	$558K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	0.000005073	−0.020%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0475%	8h	0.000005086	+0.236%	$100.5M	$291.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0476%	8h	0.000005073	−0.028%	$140.6M	$1.12B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0495% / S −0.0835%	1h	0.000005000	−1.458%	$48K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0530%	8h	0.000005084	+0.187%	$1.5M	$7.5M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0538%	1h	0.000005078	+0.079%	$62K	$114K	25x	as long as short
Nado kPEPE-PERP	+0.0541%	1h	0.000005090	+0.306%	$191K	$861K	10x	as long as short
Lighter 1000PEPE	+0.0552%	1h	0.000005078	+0.079%	$670K	$6.9M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0624%	1h	0.000005041	−0.650%	$95K	$601K	15x	as long as short
01 Exchange kPEPEUSD	+0.0632%	1h	0.000005089	+0.296%	$1K	$2K	10x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005063	−0.217%	$4K	$102K	12x	as long as short
Hyperliquid kPEPE	+0.2091%	1h	0.000005110	+0.709%	$56.8M	$132.4M	10x	as long as short