Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0121%/8h= −13.3% APRpaid last 24h −0.073%

Price spread now: BloFin against Injective+0.358%7-day average −0.573% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

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

costs, in and out, $10k−$1001.004% of the position

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 3 days (all we have)−0.189%−$19 · spread now +0.358%, 7d avg −0.573%

Together, before fees−0.349%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.932% dearer against Injective than usual: you sell high and buy low (spread +0.358% now, against its 7-day average of −0.573%): +$93 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 26 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PEPE/USDC PERP	0.000004746	0.0437	pay 0.0055% / 1h	2m 05s	$4K	$102K	12x
Short	BloFin PEPE-USDT	0.000004763	0.0315	get 0.0315% / 8h	2m 05s	$3.9M	$22.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +0.358%Rate

Funding earned: −$25.48
Price spread: +0.358% → −0.573%: $93.16
Slippage, 4 orders: −$88.36
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$32.7
Costs to cover: 1.004%
Break-even: never at this rate

Slippage from Injective: live order book, 11 min ago; BloFin: live order book, 7 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 Injective live order book, 11 min ago	18.02 bp	66.5 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	1.06 bp	8.8 bp −$9	11.0 bp −$110	22.3 bp −$2,232	62.7 bp −$31.3K

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
Hyperliquid kPEPE	−0.0331%	1h	0.000004765	+0.400%	$69.2M	$99.7M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004768	+0.465%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004766	+0.424%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004770	+0.506%	$3.9M	$13.9M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004771	+0.527%	$56K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004770	+0.499%	$87.3M	$295.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004768	+0.464%	$151.1M	$65.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004771	+0.529%	$24.4M	$54.9M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004770	+0.504%	$42.1M	$151.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004725	−0.445%	$544K	$4.2M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004725	−0.448%	$25K	$351K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004740	−0.126%	$99K	$755K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004778	+0.666%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004772	+0.548%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004767	+0.445%	$539K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0158%	8h	0.000004770	+0.495%	$2.3M	$6.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0178%	8h	0.000004767	+0.450%	$5K	$16	20x	as long as short
Lighter 1000PEPE	+0.0184%	1h	0.000004773	+0.569%	$576K	$6.6M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004771	+0.527%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0194%	8h	0.000004773	+0.569%	$42.6M	$501.2M	50x	as long as short
BloFin PEPE-USDTshort	+0.0315%	8h	0.000004763	+0.358%	$3.9M	$22.5M	75x
01 Exchange kPEPEUSD	+0.0320%	1h	0.000004771	+0.527%	$547	$2K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0343%	8h	0.000004771	+0.527%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0396% / S −0.0435%	1h	0.000004000	−15.718%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004771	+0.527%	$559K	$25.7M	50x	as long as short
Injective PEPE/USDC PERPlong	+0.0437%	1h	0.000004746	long leg	$4K	$102K	12x
Backpack kPEPE_USDC_PERP	+0.0537%	1h	0.000004772	+0.548%	$93K	$603K	15x	as long as short
BingX 1000PEPE-USDT	+0.0540%	8h	0.000004771	+0.531%	—	$257.4M	—	as long as short
Aster 1000PEPEUSDT	+0.0555%	8h	0.000004773	+0.571%	$1.5M	$7.3M	50x	as long as short
Binance 1000PEPEUSDT	+0.0558%	8h	0.000004773	+0.563%	$134.2M	$1.07B	75x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000004770	+0.516%	$524K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0560%	8h	0.000004765	+0.407%	$90.2M	$283.8M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000004771	+0.527%	$135K	—	3x	as long as short
Nado kPEPE-PERP	+0.0583%	1h	0.000004771	+0.521%	$180K	$849K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0799%	1h	0.000004771	+0.527%	$77K	$98K	25x	as long as short