Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: Gate against Pacifica−0.084%7-day average −0.032% · 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−$57as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on Pacifica Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.084%, 7d avg −0.032%

Together, before fees+0.049%+ Points / potential airdropPacifica: Active · farm board+$5 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: Gate is 0.052% cheaper against Pacifica than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kPEPE	0.000004769	0.0100	pay 0.0013% / 1h	35m 32s	$59K	$116K	10x
Short	Gate PEPE_USDT	0.000004765	0.0100	get 0.0100% / 8h	35m 32s	$149.4M	$64.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Pacifica. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now −0.084%Rate

Funding earned: $0
Price spread: −0.084% → −0.032%: −$5.17
Slippage, 4 orders: −$28.64
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$56.81
Costs to cover: 0.516%
Break-even: never at this rate

Slippage from Pacifica: live order book, 42 min ago; Gate: 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 Pacifica live order book, 42 min ago	5.23 bp	11.2 bp −$11	19.3 bp −$193	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.09 bp	13.3 bp −$13	20.0 bp −$200	58.0 bp −$5,801	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
Hyperliquid kPEPE	−0.0133%	1h	0.000004764	−0.105%	$65.2M	$92.0M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004765	−0.085%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004772	+0.065%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004778	+0.191%	$3.8M	$13.6M	50x	as long as short
Pacifica kPEPElong	+0.0100%	1h	0.000004769	long leg	$59K	$116K	10x
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004768	−0.029%	$85.7M	$289.7M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000004765	−0.084%	$149.4M	$64.3M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004769	−0.004%	$24.4M	$54.4M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004769	−0.006%	$42.1M	$150.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004776	+0.146%	$585K	$4.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004782	+0.271%	$26K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004793	+0.503%	$100K	$760K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004786	+0.348%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004777	+0.168%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004776	+0.140%	$541K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0152%	1h	0.000004771	+0.042%	$604K	$6.3M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004774	+0.104%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0189%	8h	0.000004764	−0.103%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0195%	8h	0.000004779	+0.205%	$2.3M	$6.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0208%	8h	0.000004772	+0.063%	$41.4M	$495.7M	50x	as long as short
01 Exchange kPEPEUSD	+0.0264%	1h	0.000004772	+0.063%	$547	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0330%	8h	0.000004779	+0.210%	$3.9M	$22.2M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0374% / S −0.0423%	1h	0.000004000	−16.125%	$42K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004788	+0.398%	$576K	$25.7M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0402%	8h	0.000004774	+0.096%	$30K	$12K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0415%	1h	0.000004776	+0.155%	$91K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004775	+0.126%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0588%	1h	0.000004776	+0.147%	$77K	$98K	25x	as long as short
Binance 1000PEPEUSDT	+0.0634%	8h	0.000004768	−0.026%	$130.5M	$1.06B	75x	as long as short
Aster 1000PEPEUSDT	+0.0637%	8h	0.000004771	+0.034%	$1.5M	$7.3M	50x	as long as short
MEXC PEPE_USDT	+0.0639%	8h	0.000004771	+0.031%	$92.5M	$280.6M	300x	as long as short
Extended 1000PEPE-USD	+0.0640%	1h	0.000004770	+0.029%	$526K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0640%	1h	0.000004777	+0.168%	$135K	—	3x	as long as short
BingX 1000PEPE-USDC	+0.0656%	8h	0.000004772	+0.073%	—	$2.3M	—	as long as short
Nado kPEPE-PERP	+0.0750%	1h	0.000004778	+0.198%	$183K	$849K	10x	as long as short