Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0110%/8h= +12.1% APRpaid last 24h −0.116%

Price spread now: MEXC against Kraken Futures−0.050%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 3 days (all we have)−0.061%−$6 · spread now −0.050%, 7d avg +0.044%

Together, before fees−0.159%−$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.095% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.050% now, against its 7-day average of +0.044%). If the spread goes back, that is −$9 on $10k: about 2.9 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.098%, 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	Kraken Futures PF_PEPEUSD	0.000004806	0.0762	pay 0.0095% / 1h	6m 43s	$3.9M	$13.1M	50x
Short	MEXC PEPE_USDT	0.000004804	0.0872	get 0.0872% / 8h	2h 06m	$91.3M	$292.4M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Kraken Futures. 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 Kraken FuturesbpFee MEXCbpOrdersPrice spread, now −0.050%Rate

Funding earned: $23.13
Price spread: −0.050% → +0.044%: −$9.47
Slippage, 4 orders: −$30.91
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$27.25
Costs to cover: 0.409%
Break-even: 15.2 days

Slippage from Kraken Futures: live order book, 2 min ago; MEXC: live order book, 2 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 Kraken Futures live order book, 2 min ago	7.59 bp	21.6 bp −$22	31.3 bp −$313	99.7 bp −$9,974	doesn't fit
Sell MEXC live order book, 2 min ago	1.97 bp	3.7 bp −$4	10.3 bp −$103	48.4 bp −$4,836	78.9 bp −$39.4K

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	0.000004797	−0.202%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004800	−0.129%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004796	−0.217%	$58.3M	$72.7M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004806	−0.009%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004796	−0.208%	$87.3M	$275.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004796	−0.217%	$149.9M	$62.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004801	−0.104%	$24.9M	$53.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004820	+0.290%	$577K	$3.8M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004830	+0.485%	$27K	$340K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004811	+0.104%	$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	0.000004804	−0.044%	$553K	$3.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0182%	8h	0.000004801	−0.113%	$41.4M	$484.7M	50x	as long as short
Bitget PEPEUSDT	+0.0184%	8h	0.000004795	−0.233%	$42.3M	$150.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004802	−0.084%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0299%	8h	0.000004803	−0.071%	$3.9M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.778%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0420%	8h	0.000004810	+0.070%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004808	+0.033%	$578K	$25.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0496%	8h	0.000004809	+0.056%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0530%	8h	0.000004802	−0.085%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004824	+0.366%	$4K	$110K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0583%	1h	0.000004807	+0.012%	$81K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0713%	1h	0.000004806	−0.015%	$92K	$624K	15x	as long as short
Lighter 1000PEPE	+0.0744%	1h	0.000004806	−0.009%	$599K	$5.3M	10x	as long as short
Nado kPEPE-PERP	+0.0745%	1h	0.000004805	−0.038%	$188K	$848K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0756%	1h	0.000004809	+0.054%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0759%	1h	0.000004830	+0.491%	$103K	$762K	25x	as long as short
Kraken Futures PF_PEPEUSDlong	+0.0762%	1h	0.000004806	long leg	$3.9M	$13.1M	50x
BingX 1000PEPE-USDT	+0.0827%	8h	0.000004803	−0.065%	—	$254.7M	—	as long as short
Extended 1000PEPE-USD	+0.0872%	1h	0.000004799	−0.161%	$529K	$147K	25x	as long as short
MEXC PEPE_USDTshort	+0.0872%	8h	0.000004804	−0.050%	$91.3M	$292.4M	300x
Aevo 1000PEPE-PERP	+0.0872%	1h	0.000004813	+0.137%	$136K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0873%	8h	0.000004803	−0.064%	$128.0M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0900%	8h	0.000004803	−0.069%	$1.5M	$6.9M	50x	as long as short
01 Exchange kPEPEUSD	+0.1200%	1h	0.000004809	+0.054%	$551	$2K	10x	as long as short