Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Bybit against Gate+0.249%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 7 days−0.288%−$29 · spread now +0.249%, 7d avg −0.024%

Together, before fees−0.332%−$33 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: Bybit is 0.273% dearer against Gate than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000005028	0.0100	pay 0.0100% / 8h	5h 44m	$164.7M	$73.7M	75x
Short	Bybit 1000PEPEUSDT	0.000005040	0.0100	get 0.0100% / 8h	5h 44m	$98.5M	$332.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now +0.249%Rate

Funding earned: $0
Price spread: +0.249% → −0.024%: $27.28
Slippage, 4 orders: −$17.17
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.89
Costs to cover: 0.432%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Bybit: live order book, 5 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 Gate live order book, 5 min ago	2.99 bp	10.9 bp −$11	20.7 bp −$207	75.4 bp −$7,544	doesn't fit
Sell Bybit live order book, 5 min ago	1.00 bp	10.9 bp −$11	17.2 bp −$172	42.4 bp −$4,243	323.1 bp −$161.6K

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	0.000005037	+0.179%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005022	−0.125%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005040	+0.239%	$63K	$135K	10x	as long as short
Bybit 1000PEPEUSDTshort	+0.0100%	8h	0.000005040	+0.249%	$98.5M	$332.9M	50x
Gate PEPE_USDTlong	+0.0100%	8h	0.000005028	long leg	$164.7M	$73.7M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005027	−0.024%	$25.4M	$62.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005034	+0.111%	$46.2M	$170.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005020	−0.167%	$706K	$4.6M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005022	−0.124%	$27K	$424K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005037	+0.183%	$1K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005028	−0.006%	$574K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005029	+0.028%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0299%	8h	0.000005047	+0.378%	$45.6M	$582.3M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0311%	8h	0.000005035	+0.147%	$33K	$24K	20x	as long as short
BloFin PEPE-USDT	+0.0416%	8h	0.000005035	+0.139%	—	$25.0M	75x	as long as short
BingX 1000PEPE-USDC	+0.0553%	8h	0.000005020	−0.161%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0563% / S −0.0863%	1h	0.000005000	−0.557%	$49K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005050	+0.438%	$862K	$31.0M	50x	as long as short
MEXC PEPE_USDT	+0.0588%	8h	0.000005045	+0.338%	$96.0M	$287.3M	300x	as long as short
Binance 1000PEPEUSDT	+0.0592%	8h	0.000005039	+0.224%	$142.0M	$1.19B	75x	as long as short
Extended 1000PEPE-USD	+0.0592%	1h	0.000005035	+0.139%	$533K	$219K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0592%	1h	0.000005038	+0.199%	$142K	—	3x	as long as short
SoDEX 1000PEPE-USD	+0.0610%	1h	0.000005035	+0.139%	$2K	$12K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0655%	8h	0.000005043	+0.292%	$2.4M	$7.0M	50x	as long as short
Aster 1000PEPEUSDT	+0.0676%	8h	0.000005033	+0.105%	$1.8M	$8.9M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0736%	8h	0.000005041	+0.258%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0744%	1h	0.000005033	+0.099%	$61K	$114K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0906%	1h	0.000005037	+0.171%	$99K	$617K	15x	as long as short
Nado kPEPE-PERP	+0.0965%	1h	0.000005034	+0.118%	$185K	$865K	10x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+1.531%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005038	+0.199%	$608	$3K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1034%	1h	0.000005013	−0.298%	$98K	$752K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.1382%	1h	0.000005034	+0.118%	$4.2M	$15.0M	50x	as long as short
Lighter 1000PEPE	+0.1632%	1h	0.000005046	+0.358%	$725K	$8.0M	10x	as long as short
Hyperliquid kPEPE	+0.1782%	1h	0.000005036	+0.159%	$55.3M	$137.3M	10x	as long as short