Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h −0.029%

Price spread now: MEXC against Coinbase International+0.137%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now +0.137%, 7d avg +0.015%

Together, before fees−0.067%−$7 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 MEXC is 0.122% dearer against Coinbase International than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000PEPE-PERP-INTX	0.000005200	0.0672	pay 0.0084% / 1h	26m 07s	$1.0M	$33.4M	50x
Short	MEXC PEPE_USDT	0.000005207	0.0738	get 0.0738% / 8h	4h 26m	$98.8M	$290.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.137%Rate

Funding earned: $13.86
Price spread: +0.137% → +0.015%: $12.19
Slippage, 4 orders: −$18.26
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$2.21
Costs to cover: 0.283%
Break-even: 8.1 days

Slippage from Coinbase International: live order book, 3 min ago; MEXC: live order book, 3 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, 3 min ago	6.70 bp	11.7 bp −$12	18.7 bp −$187	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.38 bp	1.2 bp −$1	14.0 bp −$140	49.2 bp −$4,924	73.5 bp −$36.8K

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	0.000005199	−0.020%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005194	−0.117%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005207	+0.135%	$66K	$144K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005194	−0.121%	$101.3M	$354.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005202	+0.038%	$174.5M	$79.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005198	−0.046%	$26.3M	$65.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005200	−0.009%	$761K	$4.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005196	−0.074%	$37K	$459K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005209	+0.179%	$1K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005200	+0.002%	$590K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005214	+0.260%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0198%	8h	0.000005199	−0.029%	$48.1M	$178.6M	75x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005173	−0.519%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0347%	8h	0.000005208	+0.163%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0378%	8h	0.000005199	−0.019%	$49.2M	$629.1M	50x	as long as short
BloFin PEPE-USDT	+0.0497%	8h	0.000005214	+0.269%	$4.4M	$26.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0539%	8h	0.000005206	+0.115%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTXlong	+0.0672%	1h	0.000005200	long leg	$1.0M	$33.4M	50x
BingX 1000PEPE-USDT	+0.0697%	8h	0.000005207	+0.129%	—	$262.7M	—	as long as short
Aevo 1000PEPE-PERP	+0.0736%	1h	0.000005211	+0.212%	$147K	—	3x	as long as short
MEXC PEPE_USDTshort	+0.0738%	8h	0.000005207	+0.137%	$98.8M	$290.4M	300x
Binance 1000PEPEUSDT	+0.0741%	8h	0.000005202	+0.029%	$149.7M	$1.25B	75x	as long as short
Extended 1000PEPE-USD	+0.0744%	1h	0.000005207	+0.140%	$550K	$226K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0775% / S −0.1561%	1h	0.000005000	−3.846%	$64K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0813%	8h	0.000005200	0.000%	$6K	—	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0834%	1h	0.000005220	+0.385%	$104K	$743K	25x	as long as short
Nado kPEPE-PERP	+0.0841%	1h	0.000005215	+0.286%	$194K	$897K	10x	as long as short
Aster 1000PEPEUSDT	+0.0850%	8h	0.000005210	+0.198%	$1.9M	$9.5M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0859%	1h	0.000005209	+0.173%	$2K	$10K	10x	as long as short
Lighter 1000PEPE	+0.0872%	1h	0.000005212	+0.231%	$599K	$8.3M	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0904%	1h	0.000005206	+0.115%	$74K	$125K	25x	as long as short
01 Exchange kPEPEUSD	+0.1160%	1h	0.000005192	−0.154%	$626	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1168%	1h	0.000005207	+0.137%	$99K	$666K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1250%	1h	0.000005209	+0.181%	$4.7M	$15.9M	50x	as long as short
Hyperliquid kPEPE	+0.1592%	1h	0.000005213	+0.250%	$56.2M	$141.8M	10x	as long as short