Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0164%/8h= +18.0% APRpaid last 24h +0.089%

Price spread now: Lighter against Gate+0.103%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$420.422% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 7 days−0.161%−$16 · spread now +0.103%, 7d avg +0.027%

Together, before fees−0.005%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.076% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000004872	0.0100	pay 0.0100% / 8h	2h 43m	$148.7M	$60.8M	75x
Short	Lighter 1000PEPE	0.000004877	0.0264	get 0.0033% / 1h	43m 28s	$599K	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.103%Rate

Funding earned: $34.44
Price spread: +0.103% → +0.027%: $7.6
Slippage, 4 orders: −$27.2
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$0.16
Costs to cover: 0.422%
Break-even: 7.0 days

Slippage from Gate: live order book, 6 min ago; Lighter: 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 Gate live order book, 6 min ago	2.05 bp	12.7 bp −$13	20.9 bp −$209	66.8 bp −$6,676	doesn't fit
Sell Lighter live order book, 4 min ago	5.10 bp	5.1 bp −$5	14.5 bp −$145	69.8 bp −$6,983	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	0.000004870	−0.044%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004878	+0.117%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004876	+0.082%	$56.8M	$69.0M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004876	+0.082%	$57K	$109K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004869	−0.057%	$88.9M	$271.6M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004872	long leg	$148.7M	$60.8M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004876	+0.080%	$25.2M	$51.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004899	+0.544%	$716K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004885	+0.273%	$27K	$338K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004887	+0.308%	$2K	$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	0.000004886	+0.279%	$555K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0112%	8h	0.000004869	−0.062%	$42.1M	$493.1M	50x	as long as short
Bitget PEPEUSDT	+0.0171%	8h	0.000004867	−0.094%	$44.6M	$150.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004865	−0.142%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0232%	8h	0.000004880	+0.164%	$3.9M	$21.7M	75x	as long as short
Lighter 1000PEPEshort	+0.0264%	1h	0.000004877	+0.103%	$599K	$5.1M	10x
Backpack kPEPE_USDC_PERP	+0.0307%	1h	0.000004879	+0.150%	$105K	$620K	15x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0319% / S −0.0217%	1h	0.000004000	−17.898%	$53K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0350%	8h	0.000004879	+0.138%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0360%	8h	0.000004883	+0.224%	$30K	$10K	20x	as long as short
Phemex u1000PEPEUSDT	+0.0407%	8h	0.000004874	+0.031%	$2.3M	$6.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004879	+0.144%	$583K	$25.7M	50x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004888	+0.328%	$4K	$92K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0570%	1h	0.000004882	+0.205%	$82K	$94K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0579%	1h	0.000004881	+0.185%	$2K	$9K	10x	as long as short
Nado kPEPE-PERP	+0.0638%	1h	0.000004871	−0.028%	$182K	$866K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0750%	1h	0.000004880	+0.160%	$3.9M	$12.8M	50x	as long as short
BingX 1000PEPE-USDC	+0.0754%	8h	0.000004873	+0.012%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000004889	+0.349%	$138K	—	3x	as long as short
MEXC PEPE_USDT	+0.0805%	8h	0.000004880	+0.156%	$91.5M	$287.9M	300x	as long as short
Binance 1000PEPEUSDT	+0.0806%	8h	0.000004877	+0.107%	$128.8M	$1.01B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004878	+0.117%	$538K	$146K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0859%	1h	0.000004884	+0.246%	$101K	$759K	25x	as long as short
Aster 1000PEPEUSDT	+0.0866%	8h	0.000004878	+0.128%	$1.6M	$6.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.1440%	1h	0.000004884	+0.246%	$559	$2K	10x	as long as short