Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h −0.009%

Price spread now: BingX against Extended+0.034%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on Extended Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now +0.034%, 7d avg +0.019%

Together, before fees+0.030%+ Points / potential airdropExtended: Active · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: $0 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended 1000PEPE-USD	0.000005045	0.0480	pay 0.0060% / 1h	16m 57s	$555K	$148K	25x
Short	BingX 1000PEPE-USDC	0.000005047	0.0465	get 0.0465% / 8h	7h 16m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Extended. 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 ExtendedbpFee BingXbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$3.15
Price spread: +0.034% → +0.019%: $1.48
Slippage, 4 orders: −$28.75
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BingX: 5 bp × 2 orders: −$10
Net: −$45.43
Costs to cover: 0.438%
Break-even: never at this rate

Slippage from Extended: live order book, 56 min ago; BingX: live order book, 2 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 Extended live order book, 56 min ago	3.17 bp	7.8 bp −$8	46.0 bp −$460	doesn't fit	doesn't fit
Sell BingX live order book, 2 min ago	1.30 bp	12.1 bp −$12	16.0 bp −$160	85.4 bp −$8,536	216.2 bp −$108.1K

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
Kraken Futures PF_PEPEUSD	−0.0117%	1h	0.000005021	−0.493%	$3.9M	$14.2M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005013	−0.648%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005016	−0.575%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005019	−0.523%	$59K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005043	−0.048%	$94.6M	$307.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005037	−0.167%	$161.6M	$68.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005041	−0.089%	$25.9M	$57.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005045	−0.008%	$44.1M	$153.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005008	−0.748%	$576K	$4.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005015	−0.601%	$52K	$379K	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	0.000005028	−0.349%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005022	−0.464%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005024	−0.430%	$567K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005013	−0.646%	$2.4M	$6.7M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005020	−0.501%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0192%	8h	0.000005049	+0.071%	$44.9M	$542.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0237%	8h	0.000005019	−0.530%	$6K	$16	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0242%	1h	0.000005019	−0.523%	$104K	$749K	25x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0275%	8h	0.000005020	−0.496%	$31K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0310%	8h	0.000005024	−0.424%	$4.0M	$24.1M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000005029	−0.325%	$684K	$27.6M	50x	as long as short
BingX 1000PEPE-USDCshort	+0.0465%	8h	0.000005047	+0.034%	—	$2.3M	—
Binance 1000PEPEUSDT	+0.0479%	8h	0.000005047	+0.029%	$139.4M	$1.11B	75x	as long as short
Extended 1000PEPE-USDlong	+0.0480%	1h	0.000005045	long leg	$555K	$148K	25x
MEXC PEPE_USDT	+0.0480%	8h	0.000005046	+0.014%	$100.1M	$288.9M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0480%	1h	0.000005011	−0.682%	$142K	—	3x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0485% / S −0.0460%	1h	0.000005000	−0.900%	$58K	—	100x	as long as short
Lighter 1000PEPE	+0.0504%	1h	0.000005028	−0.345%	$655K	$6.8M	10x	as long as short
Aster 1000PEPEUSDT	+0.0517%	8h	0.000005030	−0.300%	$1.4M	$7.5M	50x	as long as short
Nado kPEPE-PERP	+0.0529%	1h	0.000005022	−0.466%	$190K	$862K	10x	as long as short
01 Exchange kPEPEUSD	+0.0544%	1h	0.000005030	−0.305%	$1K	$2K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0576%	1h	0.000005032	−0.262%	$95K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005032	−0.266%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0747%	1h	0.000005022	−0.464%	$61K	$114K	25x	as long as short
Hyperliquid kPEPE	+0.1611%	1h	0.000005058	+0.250%	$57.6M	$129.0M	10x	as long as short