Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h −0.019%

Price spread now: BingX against Deribit−0.102%54s7-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 BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. BingX is 0.102% cheaper against Deribit than usual: you would sell low and buy high (spread −0.102% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 3.0 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.047% in total) that is about 15 days. The two prices were read 54 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	Deribit 1000PEPE_USDC-PERPETUAL	0.000004801	0.0584	pay 0.0073% / 1h	56m 19s	$81K	$94K	25x
Short	BingX 1000PEPE-USDC	0.000004796	0.0699	get 0.0699% / 8h	56m 19s	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpOrdersPrice spread, now −0.102%Rate

Funding earned: $24.18
Price spread: −0.102% → 0.000%: −$10.21
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$3.02
Costs to cover: 0.170%
Break-even: 7.9 days

Slippage unknown: Deribit: no order-book sample; BingX: live order book, 2 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 BingX live order book, 2 min ago	2.29 bp	15.8 bp −$16	25.8 bp −$258	93.7 bp −$9,368	266.5 bp −$133.2K

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
Hyperliquid kPEPE	−0.0120%	1h	0.000004790	−0.229%	$65.2M	$86.4M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004793	−0.160%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004793	−0.173%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0066%	1h	0.000004798	−0.059%	$3.9M	$13.4M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004797	−0.083%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004796	−0.108%	$86.7M	$286.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004795	−0.125%	$150.6M	$63.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004797	−0.090%	$24.6M	$54.2M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004798	−0.073%	$42.3M	$149.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004783	−0.378%	$548K	$4.0M	—	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	0.000004795	−0.128%	$28K	$344K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004808	+0.137%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004801	0.000%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004799	−0.033%	$543K	$3.5M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004797	−0.093%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0221%	8h	0.000004799	−0.042%	$41.4M	$495.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0230%	8h	0.000004796	−0.109%	$5K	$16	20x	as long as short
01 Exchange kPEPEUSD	+0.0264%	1h	0.000004794	−0.146%	$549	$2K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0285%	8h	0.000004801	0.000%	$2.3M	$6.4M	50x	as long as short
BloFin PEPE-USDT	+0.0342%	8h	0.000004802	+0.021%	$3.9M	$22.3M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0346% / S −0.0380%	1h	0.000004000	−16.684%	$42K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004803	+0.042%	$565K	$25.7M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0403%	1h	0.000004789	−0.250%	$101K	$760K	25x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004808	+0.146%	$4K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0442%	8h	0.000004799	−0.044%	$29K	$11K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0571%	1h	0.000004801	−0.006%	$91K	$617K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUALlong	+0.0584%	1h	0.000004801	long leg	$81K	$94K	25x
Lighter 1000PEPE	+0.0584%	1h	0.000004797	−0.083%	$697K	$6.1M	10x	as long as short
BingX 1000PEPE-USDCshort	+0.0699%	8h	0.000004796	−0.102%	—	$2.3M	—
Binance 1000PEPEUSDT	+0.0712%	8h	0.000004799	−0.044%	$131.4M	$1.05B	75x	as long as short
MEXC PEPE_USDT	+0.0716%	8h	0.000004799	−0.046%	$92.7M	$277.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0720%	1h	0.000004796	−0.102%	$529K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0720%	1h	0.000004801	0.000%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0722%	8h	0.000004792	−0.179%	$1.5M	$7.2M	50x	as long as short
Nado kPEPE-PERP	+0.0915%	1h	0.000004796	−0.110%	$184K	$845K	10x	as long as short