Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.005%

Price spread now: KuCoin against Phemex−0.059%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$570.571% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 3 days (all we have)−0.025%−$2 · spread now −0.059%, 7d avg −0.057%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex u1000PEPEUSDT	0.000004940	0.0100	pay 0.0100% / 8h	7h 32m	$2.4M	$6.6M	50x
Short	KuCoin PEPEUSDTM	0.000004937	0.0100	get 0.0100% / 8h	7h 32m	$25.4M	$55.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now −0.059%Rate

Funding earned: $0
Price spread: −0.059% → −0.057%: −$0.18
Slippage, 4 orders: −$33.06
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$57.24
Costs to cover: 0.571%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; KuCoin: live order book, 6 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 Phemex live order book, 6 min ago	5.61 bp	19.2 bp −$19	33.8 bp −$338	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	0.82 bp	14.6 bp −$15	23.3 bp −$233	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
Kraken Futures PF_PEPEUSD	−0.0119%	1h	0.000004937	−0.060%	$4.0M	$13.9M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004944	+0.083%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004931	−0.182%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004944	+0.089%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004947	+0.154%	$90.8M	$301.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004942	+0.049%	$156.6M	$65.9M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0100%	8h	0.000004937	−0.059%	$25.4M	$55.9M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000004939	−0.014%	$43.2M	$151.8M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004921	−0.382%	$575K	$4.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004925	−0.301%	$26K	$353K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004942	+0.038%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004935	−0.093%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004943	+0.063%	$559K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDTlong	+0.0100%	8h	0.000004940	long leg	$2.4M	$6.6M	50x
OKX PEPE-USDT-SWAP	+0.0183%	8h	0.000004945	+0.109%	$43.3M	$523.9M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004939	−0.011%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0203%	8h	0.000004947	+0.151%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0295%	8h	0.000004938	−0.040%	$30K	$13K	20x	as long as short
Lighter 1000PEPE	+0.0304%	1h	0.000004942	+0.049%	$579K	$6.7M	10x	as long as short
BloFin PEPE-USDT	+0.0306%	8h	0.000004937	−0.053%	$4.0M	$23.4M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004938	−0.032%	$595K	$26.7M	50x	as long as short
Hyperliquid kPEPE	+0.0376%	1h	0.000004946	+0.130%	$57.7M	$115.1M	10x	as long as short
Nado kPEPE-PERP	+0.0414%	1h	0.000004940	+0.002%	$193K	$851K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0455%	1h	0.000004932	−0.154%	$102K	$754K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0466% / S −0.0644%	1h	0.000004000	−19.022%	$48K	—	100x	as long as short
01 Exchange kPEPEUSD	+0.0472%	1h	0.000004937	−0.053%	$1K	$2K	10x	as long as short
BingX 1000PEPE-USDT	+0.0488%	8h	0.000004940	+0.016%	—	$256.9M	—	as long as short
Binance 1000PEPEUSDT	+0.0501%	8h	0.000004943	+0.070%	$139.0M	$1.09B	75x	as long as short
Extended 1000PEPE-USD	+0.0504%	1h	0.000004941	+0.033%	$543K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0504%	8h	0.000004945	+0.101%	$97.7M	$283.0M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0504%	1h	0.000004936	−0.073%	$140K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0527%	8h	0.000004944	+0.085%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0558%	1h	0.000004937	−0.057%	$94K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004942	+0.049%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0764%	1h	0.000004938	−0.032%	$70K	$107K	25x	as long as short