Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Variational Omni against Bybit−0.001%7-day average −0.028% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 7 days−0.024%−$2 · spread now −0.001%, 7d avg −0.028%

Together, before fees−0.011%+ Points / potential airdropVariational Omni: Active · farm board−$1 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 0.027% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit 1000PEPEUSDT	0.000004765	0.0100	pay 0.0100% / 8h	28m 42s	$85.8M	$290.0M	50x
Short	Variational Omni 1000PEPE	0.000004765	0.0100	get 0.0100% / 8h	28m 42s	$583K	$4.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.001%Rate

Funding earned: $0
Price spread: −0.001% → −0.028%: $2.68
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.32
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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 Bybit live order book, 5 min ago	1.05 bp	7.5 bp −$7	11.1 bp −$111	28.2 bp −$2,821	doesn't fit
Sell Variational Omni RFQ quote, just now	6.29 bp	doesn't fit	16.8 bp −$168	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
Hyperliquid kPEPE	−0.0158%	1h	0.000004759	−0.126%	$66.5M	$93.1M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004766	+0.025%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004766	+0.023%	$13K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004774	+0.178%	$3.8M	$13.7M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004768	+0.063%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000004765	long leg	$85.8M	$290.0M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000004766	+0.021%	$149.5M	$64.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004770	+0.101%	$24.3M	$54.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004768	+0.055%	$42.1M	$150.2M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000004765	−0.001%	$583K	$4.1M	—

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004771	+0.125%	$26K	$351K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004769	+0.084%	$99K	$761K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004777	+0.256%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004774	+0.189%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004766	+0.010%	$540K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0104%	1h	0.000004771	+0.126%	$601K	$6.4M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0182%	8h	0.000004766	+0.027%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004770	+0.096%	$7K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0190%	8h	0.000004771	+0.118%	$2.3M	$6.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0205%	8h	0.000004767	+0.042%	$41.5M	$495.1M	50x	as long as short
01 Exchange kPEPEUSD	+0.0256%	1h	0.000004771	+0.126%	$547	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0325%	8h	0.000004772	+0.147%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0378% / S −0.0339%	1h	0.000004000	−16.055%	$47K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0389%	8h	0.000004775	+0.214%	$30K	$12K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004772	+0.147%	$569K	$25.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004776	+0.231%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0575%	1h	0.000004773	+0.170%	$90K	$602K	15x	as long as short
BingX 1000PEPE-USDT	+0.0602%	8h	0.000004768	+0.063%	—	$256.8M	—	as long as short
Binance 1000PEPEUSDT	+0.0613%	8h	0.000004771	+0.118%	$130.8M	$1.06B	75x	as long as short
Aster 1000PEPEUSDT	+0.0614%	8h	0.000004765	−0.008%	$1.5M	$7.3M	50x	as long as short
Extended 1000PEPE-USD	+0.0616%	1h	0.000004769	+0.085%	$524K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0616%	1h	0.000004775	+0.210%	$135K	—	3x	as long as short
MEXC PEPE_USDT	+0.0620%	8h	0.000004773	+0.168%	$91.5M	$281.1M	300x	as long as short
Nado kPEPE-PERP	+0.0682%	1h	0.000004772	+0.157%	$182K	$849K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0798%	1h	0.000004775	+0.210%	$77K	$98K	25x	as long as short