Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0094%/8h= +10.3% APRpaid last 24h −0.009%

Price spread now: Bitget against edgeX+1.480%94s7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.301% of the position

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−1.646%−$165 · spread now +1.480%, 7d avg +0.022%

Together, before fees−1.742%+ Points / potential airdropedgeX: Active · farm board−$174 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 1.458% dearer against edgeX than usual: you sell high and buy low: +$146 more if the spread goes back to its 7-day average of +0.022%. Mind the row above: over the last 7 days funding on this pair cost −0.096%, so the current rate has only just turned in your favour. The two prices were read 94 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	edgeX 1000PEPEUSDC	0.000005141	0.0100	pay 0.0050% / 4h	29m 56s	$37K	$458K	20x
Short	Bitget PEPEUSDT	0.000005217	0.0194	get 0.0194% / 8h	4h 29m	$47.5M	$177.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against edgeX. 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 edgeXbpFee BitgetbpOrdersPrice spread, now +1.480%Rate

Funding earned: $19.74
Price spread: +1.480% → +0.022%: $145.79
Slippage, 4 orders: −$9.14
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: $135.39
Costs to cover: 0.301%
Break-even: from the start

Slippage from edgeX: live order book, 29 min ago; Bitget: live order book, 4 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 edgeX live order book, 29 min ago	1.09 bp	5.7 bp −$6	8.7 bp −$87	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.14 bp	9.5 bp −$10	12.8 bp −$128	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
dYdX PEPE-USD	0.0000%	1h	0.000005193	+1.011%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005180	+0.778%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005202	+1.196%	$66K	$141K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005213	+1.400%	$101.8M	$352.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005203	+1.216%	$171.2M	$77.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005217	+1.492%	$26.3M	$64.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005188	+0.916%	$760K	$4.8M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000005141	long leg	$37K	$458K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005202	+1.206%	$2K	$2.5M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005189	+0.947%	$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	0.000005183	+0.831%	$8K	—	15x	as long as short
Bitget PEPEUSDTshort	+0.0194%	8h	0.000005217	+1.480%	$47.5M	$177.0M	75x
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005173	+0.632%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0344%	8h	0.000005190	+0.957%	$34K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0379%	8h	0.000005217	+1.488%	$48.1M	$626.5M	50x	as long as short
BloFin PEPE-USDT	+0.0497%	8h	0.000005200	+1.157%	$4.3M	$26.4M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0521%	1h	0.000005190	+0.963%	$74K	$125K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0561%	8h	0.000005191	+0.986%	$2.6M	$7.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005191	+0.982%	$988K	$33.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0684%	8h	0.000005213	+1.400%	—	$262.5M	—	as long as short
Aevo 1000PEPE-PERP	+0.0720%	1h	0.000005213	+1.410%	$147K	—	3x	as long as short
Extended 1000PEPE-USD	+0.0728%	1h	0.000005216	+1.473%	$552K	$226K	25x	as long as short
MEXC PEPE_USDT	+0.0728%	8h	0.000005212	+1.398%	$99.1M	$289.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0728%	8h	0.000005217	+1.498%	$149.2M	$1.24B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0758% / S −0.1497%	1h	0.000005000	−2.733%	$63K	—	100x	as long as short
Nado kPEPE-PERP	+0.0814%	1h	0.000005186	+0.879%	$192K	$895K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0824%	8h	0.000005199	+1.136%	$6K	—	20x	as long as short
Aster 1000PEPEUSDT	+0.0838%	8h	0.000005204	+1.241%	$1.9M	$9.5M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0844%	1h	0.000005137	−0.068%	$102K	$743K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0879%	1h	0.000005196	+1.079%	$2K	$12K	10x	as long as short
Lighter 1000PEPE	+0.0912%	1h	0.000005197	+1.099%	$594K	$8.3M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1133%	1h	0.000005211	+1.371%	$97K	$662K	15x	as long as short
01 Exchange kPEPEUSD	+0.1160%	1h	0.000005196	+1.079%	$627	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1253%	1h	0.000005197	+1.101%	$4.6M	$15.8M	50x	as long as short
Hyperliquid kPEPE	+0.1580%	1h	0.000005216	+1.468%	$56.1M	$141.3M	10x	as long as short