Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.028%

Price spread now: edgeX against Bybit+0.640%91s7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as 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−$290.285% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 3 days (all we have)−0.471%−$47 · spread now +0.640%, 7d avg +0.017%

Together, before fees−0.344%+ Points / potential airdropedgeX: Active · farm board−$34 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: edgeX is 0.623% dearer against Bybit than usual: you sell high and buy low, +$62 on $10k if it goes back to its 7-day average of +0.017%. The two prices were read 91 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	Bybit 1000PEPEUSDT	0.000004839	0.0100	pay 0.0100% / 8h	1h 36m	$87.5M	$279.9M	50x
Short	edgeX 1000PEPEUSDC	0.000004870	0.0100	get 0.0050% / 4h	1h 36m	$28K	$343K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now +0.640%Rate

Funding earned: $0
Price spread: +0.640% → +0.017%: $62.28
Slippage, 4 orders: −$8.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $33.77
Costs to cover: 0.285%
Break-even: from the start

Slippage from Bybit: live order book, 3 min ago; edgeX: live order book, 47 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 Bybit live order book, 3 min ago	1.03 bp	7.9 bp −$8	12.7 bp −$127	33.8 bp −$3,378	doesn't fit
Sell edgeX live order book, 47 min ago	0.93 bp	5.9 bp −$6	112.6 bp −$1,126	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	0.000004852	+0.268%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004847	+0.157%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004849	+0.203%	$608K	$5.4M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004839	−0.004%	$61.9M	$78.1M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004855	+0.327%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000004839	long leg	$87.5M	$279.9M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000004840	+0.017%	$151.5M	$62.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004844	+0.099%	$25.0M	$53.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004864	+0.511%	$583K	$4.0M	—	as long as short
edgeX 1000PEPEUSDCshort	+0.0100%	4h	0.000004870	+0.640%	$28K	$343K	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	0.000004862	+0.469%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004848	+0.182%	$2K	$9K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004850	+0.225%	$549K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0156%	8h	0.000004843	+0.070%	$42.6M	$151.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004850	+0.229%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0204%	8h	0.000004843	+0.079%	$41.8M	$493.5M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0213% / S −0.0093%	1h	0.000004000	−17.342%	$54K	—	100x	as long as short
BloFin PEPE-USDT	+0.0323%	8h	0.000004858	+0.388%	$3.9M	$22.3M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0385%	8h	0.000004854	+0.300%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0407%	8h	0.000004842	+0.064%	$2.3M	$6.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0443%	8h	0.000004851	+0.242%	$30K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004853	+0.285%	$616K	$25.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0480%	1h	0.000004856	+0.347%	$556	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0575%	1h	0.000004850	+0.223%	$82K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0619%	1h	0.000004844	+0.093%	$91K	$614K	15x	as long as short
Nado kPEPE-PERP	+0.0728%	1h	0.000004852	+0.265%	$186K	$854K	10x	as long as short
BingX 1000PEPE-USDC	+0.0827%	8h	0.000004841	+0.039%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0832%	1h	0.000004855	+0.327%	$137K	—	3x	as long as short
MEXC PEPE_USDT	+0.0836%	8h	0.000004843	+0.087%	$92.0M	$283.5M	300x	as long as short
Binance 1000PEPEUSDT	+0.0837%	8h	0.000004842	+0.064%	$130.5M	$1.03B	75x	as long as short
Extended 1000PEPE-USD	+0.0840%	1h	0.000004849	+0.206%	$535K	$148K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0841%	1h	0.000004868	+0.595%	$104K	$764K	25x	as long as short
Aster 1000PEPEUSDT	+0.0865%	8h	0.000004843	+0.085%	$1.5M	$7.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004874	+0.719%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1316%	1h	0.000004845	+0.127%	$4.0M	$13.3M	50x	as long as short