Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.024%

Price spread now: Variational Omni against edgeX−0.278%7-day average −0.070% · you buy dearer than you sell

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

Long on edgeX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.051%−$5 on $10k

Price spread, last 3 days (all we have)+0.225%+$22 · spread now −0.278%, 7d avg −0.070%

Together, before fees+0.174%+ Points / potential airdropedgeX: Active · Variational Omni: Active · farm board+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.208% cheaper against edgeX than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX 1000PEPEUSDC	0.000004795	0.0100	pay 0.0050% / 4h	1h 11m	$28K	$343K	20x
Short	Variational Omni 1000PEPE	0.000004782	0.0100	get 0.0100% / 8h	1h 11m	$541K	$4.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against edgeX. 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 edgeXbpFee Variational OmnibpOrdersPrice spread, now −0.278%Rate

Funding earned: $0
Price spread: −0.278% → −0.070%: −$20.83
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$29.83
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 7 min ago; Variational Omni: RFQ quote, 3 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 edgeX live order book, 7 min ago	1.04 bp	5.7 bp −$6	10.0 bp −$100	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	6.24 bp	doesn't fit	16.6 bp −$166	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	0.000004793	−0.045%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004791	−0.078%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004797	+0.037%	$669K	$6.0M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004790	−0.109%	$62.7M	$82.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004796	+0.016%	$59K	$114K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004794	−0.019%	$86.9M	$283.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004791	−0.088%	$150.2M	$63.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004793	−0.042%	$24.7M	$54.0M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000004782	−0.278%	$541K	$4.0M	—
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000004795	long leg	$28K	$343K	20x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004801	+0.120%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004795	−0.005%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004793	−0.042%	$540K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0114%	8h	0.000004795	−0.005%	$42.1M	$148.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004794	−0.023%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0219%	8h	0.000004796	+0.016%	$41.5M	$491.6M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0275%	8h	0.000004796	+0.014%	$5K	$16	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0327% / S −0.0353%	1h	0.000004000	−16.584%	$43K	—	100x	as long as short
BloFin PEPE-USDT	+0.0336%	8h	0.000004794	−0.026%	$3.9M	$22.1M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0340%	8h	0.000004799	+0.079%	$2.3M	$6.4M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0376%	1h	0.000004796	+0.016%	$81K	$94K	25x	as long as short
01 Exchange kPEPEUSD	+0.0408%	1h	0.000004796	+0.016%	$549	$2K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0447%	1h	0.000004792	−0.067%	$101K	$763K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004793	−0.047%	$582K	$25.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0451%	8h	0.000004797	+0.037%	$29K	$11K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0546%	1h	0.000004794	−0.030%	$92K	$614K	15x	as long as short
BingX 1000PEPE-USDC	+0.0749%	8h	0.000004794	−0.028%	—	$2.3M	—	as long as short
Nado kPEPE-PERP	+0.0751%	1h	0.000004797	+0.035%	$184K	$845K	10x	as long as short
Extended 1000PEPE-USD	+0.0752%	1h	0.000004793	−0.039%	$526K	$148K	25x	as long as short
Binance 1000PEPEUSDT	+0.0754%	8h	0.000004797	+0.028%	$130.5M	$1.04B	75x	as long as short
MEXC PEPE_USDT	+0.0760%	8h	0.000004799	+0.074%	$91.5M	$285.8M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000004801	+0.120%	$136K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0768%	8h	0.000004795	−0.004%	$1.5M	$7.1M	50x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004814	+0.391%	$4K	$103K	12x	as long as short
Kraken Futures PF_PEPEUSD	+0.1331%	1h	0.000004793	−0.039%	$3.9M	$13.3M	50x	as long as short