Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h +0.024%

Price spread now: Aster against Coinbase International+0.032%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 3 days (all we have)−0.005%−$1 · spread now +0.032%, 7d avg +0.046%

Together, before fees+0.144%+ Points / potential airdropAster: Stage 5 · farm board+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.149% in total (about 7.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000PEPE-PERP-INTX	0.000004773	0.0400	pay 0.0050% / 1h	33m 20s	$574K	$25.6M	50x
Short	Aster 1000PEPEUSDT	0.000004775	0.0632	get 0.0632% / 8h	33m 20s	$1.5M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now +0.032%Rate

Funding earned: $48.79
Price spread: +0.032% → +0.046%: −$1.42
Slippage, 4 orders: −$25.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: $4.19
Costs to cover: 0.432%
Break-even: 6.4 days

Slippage from Coinbase International: live order book, 6 min ago; Aster: live order book, 5 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 Coinbase International live order book, 6 min ago	4.18 bp	12.2 bp −$12	15.6 bp −$156	64.7 bp −$6,472	doesn't fit
Sell Aster live order book, 5 min ago	2.92 bp	8.0 bp −$8	14.0 bp −$140	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	−0.0130%	1h	0.000004766	−0.147%	$65.7M	$92.4M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004767	−0.121%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004767	−0.122%	$13K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004768	−0.112%	$3.8M	$13.7M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004769	−0.084%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004768	−0.105%	$85.8M	$289.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004769	−0.084%	$149.7M	$64.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004774	+0.013%	$24.3M	$54.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004769	−0.073%	$42.1M	$150.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004776	+0.062%	$585K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004782	+0.187%	$26K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004763	−0.210%	$99K	$760K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004780	+0.151%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004771	−0.042%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004770	−0.065%	$540K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0128%	1h	0.000004769	−0.084%	$600K	$6.4M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0187%	8h	0.000004767	−0.133%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004770	−0.065%	$7K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0189%	8h	0.000004763	−0.218%	$2.3M	$6.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0204%	8h	0.000004772	−0.021%	$41.4M	$495.9M	50x	as long as short
01 Exchange kPEPEUSD	+0.0256%	1h	0.000004776	+0.063%	$547	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0324%	8h	0.000004770	−0.063%	$3.9M	$22.2M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0376% / S −0.0336%	1h	0.000004000	−16.195%	$47K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0396%	8h	0.000004770	−0.059%	$30K	$12K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTXlong	+0.0400%	1h	0.000004773	long leg	$574K	$25.6M	50x
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004775	+0.042%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0447%	1h	0.000004767	−0.130%	$90K	$601K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0589%	1h	0.000004771	−0.042%	$77K	$98K	25x	as long as short
BingX 1000PEPE-USDT	+0.0617%	8h	0.000004770	−0.052%	—	$256.8M	—	as long as short
Binance 1000PEPEUSDT	+0.0629%	8h	0.000004771	−0.038%	$130.6M	$1.06B	75x	as long as short
Extended 1000PEPE-USD	+0.0632%	1h	0.000004770	−0.058%	$524K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0632%	1h	0.000004774	+0.021%	$135K	—	3x	as long as short
Aster 1000PEPEUSDTshort	+0.0632%	8h	0.000004775	+0.032%	$1.5M	$7.3M	50x
MEXC PEPE_USDT	+0.0634%	8h	0.000004771	−0.052%	$91.5M	$280.8M	300x	as long as short
Nado kPEPE-PERP	+0.0717%	1h	0.000004776	+0.062%	$183K	$849K	10x	as long as short