Funding arb · Price arb / Crypto

PEPE

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LONGKraken Futures▾Polymarket Perps −0.0346%Bitget −0.0312%Bybit −0.0285%TxFlow −0.0124%dYdX 0.0000%AZverse +0.0040%Paradex +0.0049%Orderly +0.0078%Lighter +0.0096%Popdex +0.0096%Aevo +0.0096%Nado +0.0100%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%OKX +0.0100%Gate +0.0100%MEXC +0.0100%KuCoin +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%SunX +0.0100%Phemex +0.0100%Extended +0.0104%HTX +0.0143%BloFin +0.0220%gTrade (Gains Network) +0.0318%N1 +0.0456%SoDEX +0.0485%GMX +0.0610%Hyperliquid +0.0622%Injective +0.0702%Kraken Futures +0.1073%Deribit +0.1081%Backpack +0.1106%

⇄⇅

SHORTPhoenix▾GMX −0.1121%Backpack +0.1106%Deribit +0.1081%Injective +0.0702%Hyperliquid +0.0622%SoDEX +0.0485%N1 +0.0456%Phoenix +0.0281%BloFin +0.0220%HTX +0.0143%Extended +0.0104%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%OKX +0.0100%Gate +0.0100%MEXC +0.0100%KuCoin +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%ApeX Omni +0.0100%SunX +0.0100%Phemex +0.0100%Nado +0.0100%Popdex +0.0096%Aevo +0.0096%Lighter +0.0096%Orderly +0.0078%Paradex +0.0049%AZverse +0.0040%dYdX 0.0000%gTrade (Gains Network) +0.0046%TxFlow −0.0124%Bybit −0.0285%Bitget −0.0312%Polymarket Perps −0.0346%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Kraken FuturesPF_PEPEUSD	0.000004512	+0.1073	pay 0.0134% / 1h	51m 44s	$2.7M	$14.9M	50x	Long Kraken Futures
SHORT	PhoenixkPEPE	0.000004529	+0.0281	get 0.0035% / 1h	51m 44s	$46K	$277K	10x	Short Phoenix

Price gap+0.381%

Funding gap−0.0793% /8h

The gap pays +$24 on $10k if it goes back to its 7d average, but funding costs $24 a day and eats that in about 24 hours.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.160% in total, about +0.0076%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.381%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

Kraken FuturesPhoenix

PEPE on 39 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

• !
  Watch: Thin at this size25.3 / 25.0 bp

  At $10k entering Kraken Futures costs 25.3 bp, fee and slippage, 1.0× Phoenix’s.
• i
  Note: Margin at max leverage$200 + $1,000

  Kraken Futures 50x, Phoenix 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Kraken Futures · 1h−$32.20

  Short Phoenix · 1h+$8.43

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$23.78Long Kraken Futures: 24 payments, −$32.20; short Phoenix: 24 payments, +$8.43.
• ✓
  OK: Entry gap works for you+0.381% vs +0.140%

  You short the dearer leg. If the gap goes back to average, the short gains.
• !
  Watch: Short leg is thinner$46K vs $2.7M OI

  Phoenix sets your exit cost. Check its book before closing.
• i
  Note: No points program—

  Neither exchange runs points right now.
• !
  Watch: KYCKraken Futures Yes · Phoenix No

  Full verification; not offered in the US (a separate US product), Canada, Australia (wholesale only) or to retail UK clients.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0076%/8h × 21 periods+$16.05

Price spread+0.381% → +0.140% (7d avg)+$24.08

Slippage, 4 orderslive order books−$85.26

Fee Kraken Futures bp × 2 orders−$10.00

Fee Phoenix bp × 2 orders−$7.00

Net · 7 days · $10k−$62.13

Costs to cover1.023%Break-even34.1 days

Slippage: Kraken Futures: live order book, 6 min ago; Phoenix: live order book, 65 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGKraken Futures12.9725.3 bp−$2536.2 bp−$362130.6 bp−$13.1Kdoesn’t fit

SELL · SHORTPhoenix2.2525.0 bp−$2584.5 bp−$845doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

PEPE news

posts that mention PEPE, from every exchangeSearch all news →

10-28 16:00	OKX	Other	Europe, your next X Drops basket is here. ZEC, NEAR, SUI, TAO, PEPE, WLD, LINK, PUMP, ONDO and ZAMA are in, with 3.4M $ZAMA up for grabs. Trade @zama for 3× rewards. @okx on X ↗
10-22 06:00	KuCoin	Other	Fresh out of the oven: the coin cookie tray 🍪 BTC, ETH, SOL, DOGE, PEPE and more. Which one are you reaching for? Register and complete your first trade for a chance to share 5,000 USDT, up to 100 USDT each. Grab yours 👉 #FoodForYourThought #KuFood #KuCoin @kucoincom on X ↗
09-28 17:53	Phoenix	Listing	Now live on Phoenix: $SHIB - 10x leverage $PEPE - 10x leverage @PhoenixTrade on X ↗
09-24 15:00	Phoenix	Listing	new market kPEPE ($PEPE) seen by our collector
09-23 09:30	Phemex	Other	BTC is green. But the alts are doing the talking. $XRP +9.11% $PEPE +18.55% $ZEC +6.56% $NEAR +4.14% 👀 What are you watching? The next 100x gems? Comments below👇 @Phemex_official on X ↗