Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h −0.084%

Price spread now: MEXC against Injective+0.853%7-day average — · you sell dearer than you buy

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

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.382%−$38 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and MEXC is 0.853% dearer against Injective than usual: you sell high and buy low: +$85 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.382%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PEPE/USDC PERP	0.000004809	0.0555	pay 0.0069% / 1h	26m 41s	$4K	$110K	12x
Short	MEXC PEPE_USDT	0.000004850	0.0831	get 0.0831% / 8h	2h 26m	$91.5M	$290.2M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.853%Rate

Funding earned: $57.93
Price spread: +0.853% → 0.000%: $85.26
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: $143.16
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 2 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 Injective no order-book sample	—	—	—	—	—
Sell MEXC live order book, 2 min ago	0.52 bp	0.5 bp −$1	8.0 bp −$80	46.3 bp −$4,629	75.2 bp −$37.6K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.000004833	+0.495%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004809	+0.006%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004836	+0.561%	$57.5M	$70.8M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004841	+0.665%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004836	+0.561%	$88.1M	$274.1M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004839	+0.624%	$150.7M	$61.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004836	+0.570%	$25.2M	$52.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004799	−0.202%	$702K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004804	−0.114%	$27K	$338K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004824	+0.318%	$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	0.000004821	+0.245%	$555K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0145%	8h	0.000004841	+0.665%	$41.5M	$489.5M	50x	as long as short
Bitget PEPEUSDT	+0.0178%	8h	0.000004838	+0.607%	$43.3M	$151.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004817	+0.161%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0260%	8h	0.000004813	+0.083%	$3.9M	$21.7M	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	+0.0389%	8h	0.000004818	+0.187%	$29K	$11K	20x	as long as short
Lighter 1000PEPE	+0.0424%	1h	0.000004842	+0.686%	$620K	$5.2M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0449%	8h	0.000004840	+0.638%	$5K	$16	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004815	+0.125%	$577K	$25.4M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0475%	8h	0.000004819	+0.202%	$2.3M	$6.4M	50x	as long as short
Injective PEPE/USDC PERPlong	+0.0555%	1h	0.000004809	long leg	$4K	$110K	12x
Backpack kPEPE_USDC_PERP	+0.0578%	1h	0.000004827	+0.370%	$95K	$622K	15x	as long as short
Nado kPEPE-PERP	+0.0706%	1h	0.000004817	+0.173%	$186K	$853K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0726%	1h	0.000004803	−0.125%	$99K	$759K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0760%	1h	0.000004815	+0.133%	$3.9M	$13.1M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0768%	1h	0.000004816	+0.146%	$2K	$9K	10x	as long as short
BingX 1000PEPE-USDC	+0.0774%	8h	0.000004841	+0.663%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0824%	1h	0.000004820	+0.229%	$136K	—	3x	as long as short
MEXC PEPE_USDTshort	+0.0831%	8h	0.000004850	+0.853%	$91.5M	$290.2M	300x
Extended 1000PEPE-USD	+0.0832%	1h	0.000004841	+0.670%	$532K	$147K	25x	as long as short
Binance 1000PEPEUSDT	+0.0837%	8h	0.000004843	+0.703%	$128.7M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0875%	8h	0.000004833	+0.504%	$1.5M	$6.8M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0998%	1h	0.000004815	+0.125%	$81K	$94K	25x	as long as short
01 Exchange kPEPEUSD	+0.1256%	1h	0.000004859	+1.040%	$557	$2K	10x	as long as short