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% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Variational Omni against Gate+0.733%7-day average −0.052% · you sell dearer than you buy

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days−0.772%−$77 · spread now +0.733%, 7d avg −0.052%

Together, before fees−0.774%+ Points / potential airdropVariational Omni: Active · farm board−$77 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 0.785% dearer against Gate than usual: you sell high and buy low, +$79 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000004809	0.0100	pay 0.0100% / 8h	2h 15m	$150.2M	$62.2M	75x
Short	Variational Omni 1000PEPE	0.000004844	0.0100	get 0.0100% / 8h	2h 15m	$709K	$3.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. 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 GatebpFee Variational OmnibpOrdersPrice spread, now +0.733%Rate

Funding earned: $0
Price spread: +0.733% → −0.052%: $78.5
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $63.5
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Gate: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 Gate live order book, 4 min ago	2.08 bp	13.4 bp −$13	22.5 bp −$225	82.1 bp −$8,210	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	5.18 bp	doesn't fit	28.0 bp −$280	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	0.000004810	+0.015%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004813	+0.091%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004814	+0.104%	$58.1M	$71.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004818	+0.187%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004818	+0.179%	$88.2M	$274.8M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000004809	long leg	$150.2M	$62.2M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004815	+0.121%	$25.1M	$53.2M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000004844	+0.733%	$709K	$3.7M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004820	+0.224%	$27K	$341K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004822	+0.262%	$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	0.000004813	+0.081%	$554K	$3.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0160%	8h	0.000004815	+0.125%	$41.3M	$485.1M	50x	as long as short
Bitget PEPEUSDT	+0.0178%	8h	0.000004813	+0.075%	$42.5M	$151.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004818	+0.183%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0276%	8h	0.000004816	+0.146%	$3.8M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.823%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0406%	8h	0.000004810	+0.019%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004807	−0.042%	$577K	$25.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0473%	8h	0.000004808	−0.027%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0507%	8h	0.000004816	+0.138%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004822	+0.270%	$4K	$110K	12x	as long as short
Lighter 1000PEPE	+0.0584%	1h	0.000004822	+0.270%	$608K	$5.2M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0682%	1h	0.000004808	−0.019%	$93K	$622K	15x	as long as short
Nado kPEPE-PERP	+0.0738%	1h	0.000004817	+0.162%	$188K	$848K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0748%	1h	0.000004821	+0.250%	$102K	$762K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0762%	1h	0.000004807	−0.040%	$3.9M	$13.1M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0791%	1h	0.000004809	0.000%	$81K	$94K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0800%	1h	0.000004807	−0.042%	$2K	$9K	10x	as long as short
BingX 1000PEPE-USDT	+0.0813%	8h	0.000004824	+0.304%	—	$254.8M	—	as long as short
Extended 1000PEPE-USD	+0.0856%	1h	0.000004812	+0.066%	$529K	$147K	25x	as long as short
MEXC PEPE_USDT	+0.0856%	8h	0.000004822	+0.260%	$91.7M	$291.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0856%	1h	0.000004812	+0.062%	$136K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0859%	8h	0.000004821	+0.256%	$128.3M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0889%	8h	0.000004812	+0.056%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1216%	1h	0.000004823	+0.291%	$552	$2K	10x	as long as short