Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0118%/8h= −12.9% APRpaid last 24h +0.064%

Price spread now: Aster against Deribit−0.035%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Aster is 0.035% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.167%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000PEPE_USDC-PERPETUAL	0.000004899	0.0976	pay 0.0122% / 1h	55m 11s	$79K	$91K	25x
Short	Aster 1000PEPEUSDT	0.000004897	0.0858	get 0.0858% / 8h	2h 55m	$1.5M	$6.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Deribit. 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 DeribitbpFee AsterbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$24.76
Price spread: −0.035% → 0.000%: −$3.53
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$43.29
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Aster: live order book, 4 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Aster live order book, 4 min ago	0.61 bp	7.3 bp −$7	11.7 bp −$117	doesn't fit	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.000004892	−0.144%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004893	−0.129%	$15K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004896	−0.061%	$56.8M	$67.1M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004897	−0.041%	$58K	$108K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004888	−0.222%	$88.5M	$265.8M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004888	−0.225%	$42.8M	$484.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004896	−0.061%	$149.4M	$59.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004888	−0.222%	$24.7M	$48.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004889	−0.194%	$719K	$3.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004893	−0.132%	$28K	$335K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004908	+0.184%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004899	0.000%	$564K	$3.5M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0156%	1h	0.000004894	−0.102%	$2K	$9K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0172%	1h	0.000004888	−0.216%	$97K	$591K	15x	as long as short
Bitget PEPEUSDT	+0.0183%	8h	0.000004886	−0.261%	$45.8M	$136.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004898	−0.030%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004893	−0.122%	$4.0M	$21.6M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0312% / S −0.0263%	1h	0.000004000	−18.351%	$48K	—	100x	as long as short
Lighter 1000PEPE	+0.0320%	1h	0.000004892	−0.143%	$587K	$4.9M	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0345%	8h	0.000004898	−0.014%	$31K	$10K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0352%	8h	0.000004899	−0.003%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0431%	8h	0.000004893	−0.127%	$2.4M	$6.2M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004904	+0.102%	$635K	$25.1M	50x	as long as short
01 Exchange kPEPEUSD	+0.0512%	1h	0.000004901	+0.041%	$561	$2K	10x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004902	+0.061%	$4K	$92K	12x	as long as short
Nado kPEPE-PERP	+0.0639%	1h	0.000004898	−0.014%	$193K	$845K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0699%	1h	0.000004891	−0.163%	$101K	$755K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0749%	1h	0.000004891	−0.167%	$3.9M	$12.5M	50x	as long as short
BingX 1000PEPE-USDT	+0.0760%	8h	0.000004884	−0.306%	—	$253.7M	—	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000004893	−0.124%	$537K	$146K	25x	as long as short
MEXC PEPE_USDT	+0.0792%	8h	0.000004885	−0.292%	$114.9M	$280.7M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000004895	−0.082%	$138K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0793%	8h	0.000004893	−0.114%	$131.4M	$987.3M	75x	as long as short
Aster 1000PEPEUSDTshort	+0.0858%	8h	0.000004897	−0.035%	$1.5M	$6.7M	50x
Deribit 1000PEPE_USDC-PERPETUALlong	+0.0976%	1h	0.000004899	long leg	$79K	$91K	25x