Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.024%

Price spread now: Variational Omni against Pacifica+0.146%7-day average −0.094% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.053%−$5 on $10k

Price spread, last 4 days (all we have)−0.248%−$25 · spread now +0.146%, 7d avg −0.094%

Together, before fees−0.302%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board−$30 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: Variational Omni is 0.240% dearer against Pacifica than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kPEPE	0.000004869	0.0100	pay 0.0013% / 1h	51m 18s	$60K	$113K	10x
Short	Variational Omni 1000PEPE	0.000004876	0.0100	get 0.0100% / 8h	1h 51m	$556K	$3.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.146%Rate

Funding earned: $0
Price spread: +0.146% → −0.094%: $23.95
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $15.95
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Pacifica: live order book, 31 min ago; Variational Omni: RFQ quote, 3 min ago. Net counts fees only.

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, 31 min ago	5.16 bp	13.8 bp −$14	22.3 bp −$223	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	6.13 bp	doesn't fit	20.4 bp −$204	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	0.000004869	+0.002%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004856	−0.263%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004860	−0.185%	$60.3M	$75.2M	10x	as long as short
Pacifica kPEPElong	+0.0100%	1h	0.000004869	long leg	$60K	$113K	10x
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004858	−0.226%	$88.5M	$278.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004865	−0.082%	$152.1M	$62.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004862	−0.142%	$25.1M	$53.6M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000004876	+0.146%	$556K	$3.9M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004882	+0.259%	$28K	$342K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004866	−0.053%	$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	0.000004865	−0.074%	$550K	$3.5M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0144%	1h	0.000004862	−0.144%	$2K	$9K	10x	as long as short
Lighter 1000PEPE	+0.0168%	1h	0.000004860	−0.185%	$643K	$5.4M	10x	as long as short
Bitget PEPEUSDT	+0.0177%	8h	0.000004862	−0.150%	$42.8M	$151.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004863	−0.130%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0202%	8h	0.000004861	−0.164%	$41.8M	$493.4M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0317% / S −0.0215%	1h	0.000004000	−17.848%	$53K	—	100x	as long as short
BloFin PEPE-USDT	+0.0323%	8h	0.000004862	−0.144%	$3.8M	$22.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0436%	8h	0.000004866	−0.070%	$30K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004864	−0.103%	$625K	$25.5M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0454%	8h	0.000004860	−0.187%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0488%	8h	0.000004868	−0.022%	$5K	$16	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0573%	1h	0.000004862	−0.144%	$82K	$94K	25x	as long as short
Nado kPEPE-PERP	+0.0640%	1h	0.000004864	−0.103%	$189K	$849K	10x	as long as short
01 Exchange kPEPEUSD	+0.0664%	1h	0.000004871	+0.041%	$558	$2K	10x	as long as short
BingX 1000PEPE-USDC	+0.0839%	8h	0.000004868	−0.016%	—	$2.3M	—	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004879	+0.205%	$4K	$103K	12x	as long as short
Binance 1000PEPEUSDT	+0.0877%	8h	0.000004861	−0.156%	$130.7M	$1.03B	75x	as long as short
Extended 1000PEPE-USD	+0.0880%	1h	0.000004861	−0.159%	$535K	$147K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0880%	1h	0.000004859	−0.205%	$137K	—	3x	as long as short
MEXC PEPE_USDT	+0.0881%	8h	0.000004860	−0.193%	$92.1M	$282.4M	300x	as long as short
Aster 1000PEPEUSDT	+0.0911%	8h	0.000004864	−0.095%	$1.5M	$6.9M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0958%	1h	0.000004873	+0.074%	$93K	$614K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1312%	1h	0.000004861	−0.163%	$4.0M	$13.2M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.1769%	1h	0.000004880	+0.226%	$104K	$763K	25x	as long as short