Funding arb · Price arb / Crypto

PEPE

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LONGPolymarket Perps▾Hyperliquid −0.1800%Polymarket Perps −0.1293%Backpack −0.0771%Kraken Futures −0.0590%Deribit −0.0428%ApeX Omni −0.0427%Bitget −0.0379%N1 −0.0328%Lighter −0.0264%Paradex −0.0138%Gate −0.0066%dYdX 0.0000%KuCoin +0.0051%AZverse +0.0074%Orderly +0.0074%Bybit +0.0082%Popdex +0.0096%Aevo +0.0096%Nado +0.0100%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%OKX +0.0100%MEXC +0.0100%BingX +0.0100%edgeX +0.0100%GRVT +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Phemex +0.0100%TxFlow +0.0100%Phoenix +0.0103%Extended +0.0104%BloFin +0.0220%gTrade (Gains Network) +0.0318%GMX +0.0431%Injective +0.0678%

⇄⇅

SHORTVariational Omni▾Injective +0.0678%GMX −0.0624%BloFin +0.0220%Extended +0.0104%Phoenix +0.0103%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%OKX +0.0100%MEXC +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%SunX +0.0100%SoDEX +0.0100%HTX +0.0100%Phemex +0.0100%TxFlow +0.0100%Nado +0.0100%Popdex +0.0096%Aevo +0.0096%Bybit +0.0082%Orderly +0.0074%AZverse +0.0074%KuCoin +0.0051%dYdX 0.0000%gTrade (Gains Network) +0.0046%Gate −0.0066%Paradex −0.0138%Lighter −0.0264%N1 −0.0328%Bitget −0.0379%ApeX Omni −0.0427%Deribit −0.0428%Kraken Futures −0.0590%Backpack −0.0771%Hyperliquid −0.1800%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Polymarket PerpsKPEPE-USD	0.000004419	−0.1293	get 0.0162% / 1h	57m 17s	$193K	$596K	10x	Long Polymarket Perps
SHORT	Variational Omni1000PEPE	0.000004457	+0.0100	get 0.0100% / 8h	57m 17s	$1.1M	$8.4M	50x	Short Variational Omni+15% pts

Price gap+0.851%

Funding gap+0.1393% /8h

Both sides work: funding pays +$42 a day on $10k, and the gap is 0.982% above its 7d average: +$98 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid +0.150% in total, about +0.0071%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.851%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

Polymarket PerpsVariational Omni

PEPE on 39 exchanges

lowest funding first

Before you open

3 ok · 3 to watch

• !
  Watch: Thin at this size29.1 / 15.7 bp

  At $10k entering Polymarket Perps costs 29.1 bp, fee and slippage, 1.9× Variational Omni’s.
• i
  Note: Margin at max leverage$1,000 + $200

  Polymarket Perps 10x, Variational Omni 50x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ1h / 8h

  Payments land at different times. Close right after the slower leg pays.

  Long Polymarket Perps · 1h+$38.78

  Short Variational Omni · 8h+$3.00

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$41.78Long Polymarket Perps: 24 payments, +$38.78; short Variational Omni: 3 payments, +$3.00.
• ✓
  OK: Entry gap works for you+0.851% vs −0.131%

  You short the dearer leg. If the gap goes back to average, the short gains.
• !
  Watch: Long leg is thinner$193K vs $1.1M OI

  Polymarket Perps sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legVariational Omni points

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legPolymarket Perps No · Variational Omni No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0071%/8h × 21 periods+$15.01

Price spread+0.851% → −0.131% (7d avg)+$98.17

Slippage, 4 orderslive order books−$71.07

Fee Polymarket Perps bp × 2 orders−$8.00

Fee Variational Omni bp × 2 orders$0.00

Net · 7 days · $10k+$34.10

Costs to cover0.791%Break-evenfrom the start

Slippage: Polymarket Perps: live order book, 35 min ago; Variational Omni: RFQ quote, 1 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGPolymarket Perps6.6829.1 bp−$2963.0 bp−$630doesn’t fitdoesn’t fit

SELL · SHORTVariational Omni5.6115.7 bp−$1625.8 bp−$258doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

PEPE news

posts that mention PEPE, from every exchangeSearch all news →

10-28 16:00	OKX	Other	Europe, your next X Drops basket is here. ZEC, NEAR, SUI, TAO, PEPE, WLD, LINK, PUMP, ONDO and ZAMA are in, with 3.4M $ZAMA up for grabs. Trade @zama for 3× rewards. @okx on X ↗
10-22 06:00	KuCoin	Other	Fresh out of the oven: the coin cookie tray 🍪 BTC, ETH, SOL, DOGE, PEPE and more. Which one are you reaching for? Register and complete your first trade for a chance to share 5,000 USDT, up to 100 USDT each. Grab yours 👉 #FoodForYourThought #KuFood #KuCoin @kucoincom on X ↗
09-28 17:53	Phoenix	Listing	Now live on Phoenix: $SHIB - 10x leverage $PEPE - 10x leverage @PhoenixTrade on X ↗
09-24 15:00	Phoenix	Listing	new market kPEPE ($PEPE) seen by our collector
09-23 09:30	Phemex	Other	BTC is green. But the alts are doing the talking. $XRP +9.11% $PEPE +18.55% $ZEC +6.56% $NEAR +4.14% 👀 What are you watching? The next 100x gems? Comments below👇 @Phemex_official on X ↗