Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.028%

Price spread now: Bybit against Pacifica−0.395%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 4 days (all we have)+0.317%+$32 · spread now −0.395%, 7d avg −0.052%

Together, before fees+0.193%+ Points / potential airdropPacifica: Active · farm board+$19 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: Bybit is 0.343% cheaper against Pacifica than usual: you would sell low and buy high, −$34 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kPEPE	0.000004837	0.0100	pay 0.0013% / 1h	39m 58s	$57K	$109K	10x
Short	Bybit 1000PEPEUSDT	0.000004818	0.0100	get 0.0100% / 8h	2h 39m	$88.9M	$272.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.395%Rate

Funding earned: $0
Price spread: −0.395% → −0.052%: −$34.32
Slippage, 4 orders: −$28.32
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$81.64
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from Pacifica: live order book, 47 min ago; Bybit: live order book, 4 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 Pacifica live order book, 47 min ago	6.08 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.03 bp	8.0 bp −$8	20.0 bp −$200	48.5 bp −$4,849	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	0.000004831	−0.115%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004827	−0.205%	$13K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004839	+0.041%	$56.7M	$69.4M	10x	as long as short
Pacifica kPEPElong	+0.0100%	1h	0.000004837	long leg	$57K	$109K	10x
Bybit 1000PEPEUSDTshort	+0.0100%	8h	0.000004818	−0.395%	$88.9M	$272.7M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000004831	−0.124%	$148.2M	$61.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004835	−0.039%	$23.7M	$51.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004852	+0.300%	$713K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004885	+0.998%	$27K	$338K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004840	+0.064%	$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	0.000004842	+0.110%	$558K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0115%	8h	0.000004822	−0.310%	$41.7M	$489.4M	50x	as long as short
Bitget PEPEUSDT	+0.0169%	8h	0.000004822	−0.320%	$43.7M	$151.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004837	−0.010%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0233%	8h	0.000004852	+0.310%	$3.9M	$21.7M	75x	as long as short
Lighter 1000PEPE	+0.0248%	1h	0.000004836	−0.021%	$597K	$5.1M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0259%	1h	0.000004839	+0.050%	$100K	$621K	15x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0319% / S −0.0217%	1h	0.000004000	−17.304%	$52K	—	100x	as long as short
Paradex kPEPE-USD-PERP	+0.0344%	8h	0.000004834	−0.062%	$5K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0366%	8h	0.000004833	−0.089%	$30K	$10K	20x	as long as short
Phemex u1000PEPEUSDT	+0.0455%	8h	0.000004838	+0.031%	$2.3M	$6.3M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004832	−0.103%	$578K	$25.5M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0510%	1h	0.000004835	−0.041%	$2K	$9K	10x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004861	+0.496%	$4K	$92K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0579%	1h	0.000004832	−0.103%	$81K	$94K	25x	as long as short
Nado kPEPE-PERP	+0.0643%	1h	0.000004844	+0.144%	$181K	$866K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0757%	1h	0.000004835	−0.038%	$3.9M	$12.9M	50x	as long as short
BingX 1000PEPE-USDT	+0.0766%	8h	0.000004840	+0.060%	—	$254.7M	—	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000004838	+0.021%	$137K	—	3x	as long as short
MEXC PEPE_USDT	+0.0804%	8h	0.000004841	+0.085%	$90.1M	$288.4M	300x	as long as short
Binance 1000PEPEUSDT	+0.0805%	8h	0.000004828	−0.178%	$127.9M	$1.01B	75x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004823	−0.282%	$531K	$146K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0859%	1h	0.000004884	+0.972%	$101K	$759K	25x	as long as short
Aster 1000PEPEUSDT	+0.0860%	8h	0.000004828	−0.186%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1328%	1h	0.000004830	−0.145%	$553	$2K	10x	as long as short