Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h +0.029%

Price spread now: Coinbase International against MEXC+0.246%7-day average −0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.301%−$30 · spread now +0.246%, 7d avg −0.015%

Together, before fees−0.316%−$32 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: Coinbase International is 0.261% dearer against MEXC than usual: you sell high and buy low, +$26 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PEPE_USDT	0.000005032	0.0667	pay 0.0667% / 8h	4h 46m	$92.3M	$287.1M	300x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000005044	0.0672	get 0.0084% / 1h	46m 17s	$974K	$31.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now +0.246%Rate

Funding earned: $1.05
Price spread: +0.246% → −0.015%: $26.11
Slippage, 4 orders: −$19.65
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$2.49
Costs to cover: 0.296%
Break-even: 23.6 days

Slippage from MEXC: live order book, 3 min ago; Coinbase International: live order book, 3 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 MEXC live order book, 3 min ago	0.50 bp	1.6 bp −$2	13.0 bp −$130	44.6 bp −$4,459	83.2 bp −$41.6K
Sell Coinbase International live order book, 3 min ago	3.99 bp	12.1 bp −$12	17.2 bp −$172	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	0.000005027	−0.090%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005026	−0.117%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005031	−0.012%	$64K	$140K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005032	+0.008%	$98.7M	$345.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005028	−0.072%	$165.8M	$75.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005036	+0.087%	$26.1M	$63.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005027	−0.099%	$675K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005013	−0.376%	$31K	$452K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005046	+0.288%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005020	−0.233%	$572K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0161%	8h	0.000005038	+0.129%	$46.1M	$174.7M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005029	−0.044%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	+0.246%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0331%	8h	0.000005041	+0.185%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0360%	8h	0.000005038	+0.127%	$45.0M	$594.8M	50x	as long as short
BloFin PEPE-USDT	+0.0479%	8h	0.000005028	−0.072%	$4.3M	$25.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0537%	1h	0.000005038	+0.127%	$2K	$12K	10x	as long as short
BingX 1000PEPE-USDT	+0.0635%	8h	0.000005029	−0.052%	—	$261.7M	—	as long as short
Phemex u1000PEPEUSDT	+0.0638%	8h	0.000005027	−0.081%	$2.4M	$7.1M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0663% / S −0.0913%	1h	0.000005000	−0.628%	$45K	—	100x	as long as short
MEXC PEPE_USDTlong	+0.0667%	8h	0.000005032	long leg	$92.3M	$287.1M	300x
Binance 1000PEPEUSDT	+0.0671%	8h	0.000005034	+0.051%	$141.6M	$1.22B	75x	as long as short
Extended 1000PEPE-USD	+0.0672%	1h	0.000005039	+0.139%	$532K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0672%	1h	0.000005033	+0.028%	$142K	—	3x	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0672%	1h	0.000005044	+0.246%	$974K	$31.8M	50x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0744%	1h	0.000005037	+0.107%	$71K	$124K	25x	as long as short
Aster 1000PEPEUSDT	+0.0757%	8h	0.000005038	+0.123%	$1.8M	$9.2M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0788%	1h	0.000005031	−0.012%	$98K	$644K	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0791%	8h	0.000005030	−0.025%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0834%	1h	0.000005033	+0.029%	$191K	$877K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0852%	1h	0.000005009	−0.449%	$99K	$743K	25x	as long as short
Lighter 1000PEPE	+0.0904%	1h	0.000005032	+0.008%	$579K	$8.2M	10x	as long as short
01 Exchange kPEPEUSD	+0.0904%	1h	0.000005045	+0.266%	$609	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1293%	1h	0.000005039	+0.139%	$4.4M	$15.4M	50x	as long as short
Hyperliquid kPEPE	+0.1410%	1h	0.000005037	+0.107%	$54.0M	$140.0M	10x	as long as short