Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.031%

Price spread now: ApeX Omni against Variational Omni−0.608%58s7-day average +0.075% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.069%+$7 on $10k

Price spread, last 3 days (all we have)+0.658%+$66 · spread now −0.608%, 7d avg +0.075%

Together, before fees+0.727%+ Points / potential airdropVariational Omni: Active · farm board+$73 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.683% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.608% now, against its 7-day average of +0.075%). If the spread goes back, that is −$68 on $10k: about 31 days of funding at the current rate (+$2 a day). The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000005052	0.0100	pay 0.0100% / 8h	7h 14m	$591K	$4.4M	—
Short	ApeX Omni 1000PEPEUSDT	0.000005021	0.0173	get 0.0022% / 1h	14m 34s	$104K	$750K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.608%Rate

Funding earned: $15.27
Price spread: −0.608% → +0.075%: −$68.28
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$63.01
Costs to cover: 0.100%
Break-even: 35.9 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; ApeX Omni: live order book, 59 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 Variational Omni RFQ quote, 5 min ago	4.96 bp	doesn't fit	18.8 bp −$188	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 59 min ago	4.34 bp	14.1 bp −$14	80.1 bp −$801	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	−0.0115%	1h	0.000005088	+0.726%	$4.0M	$14.2M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005060	+0.168%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005074	+0.439%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005071	+0.382%	$60K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005056	+0.087%	$95.1M	$308.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005063	+0.223%	$162.5M	$68.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005063	+0.223%	$26.0M	$57.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005059	+0.152%	$44.9M	$154.5M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000005052	long leg	$591K	$4.4M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005019	−0.647%	$52K	$380K	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	0.000005091	+0.780%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005086	+0.679%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005065	+0.263%	$570K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000005083	+0.609%	$2.4M	$6.7M	50x	as long as short
ApeX Omni 1000PEPEUSDTshort	+0.0173%	1h	0.000005021	−0.608%	$104K	$750K	25x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005075	+0.457%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0196%	8h	0.000005065	+0.263%	$45.2M	$545.8M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0252%	8h	0.000005060	+0.157%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0274%	8h	0.000005086	+0.677%	$31K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0313%	8h	0.000005087	+0.698%	$4.2M	$24.4M	75x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000005088	+0.718%	$694K	$28.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0457%	8h	0.000005062	+0.206%	—	$257.5M	—	as long as short
Extended 1000PEPE-USD	+0.0480%	1h	0.000005063	+0.214%	$557K	$163K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0480%	1h	0.000005073	+0.421%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0481%	8h	0.000005064	+0.239%	$100.4M	$290.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0483%	8h	0.000005063	+0.217%	$139.8M	$1.12B	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0489% / S −0.0822%	1h	0.000005000	−1.024%	$48K	—	100x	as long as short
Nado kPEPE-PERP	+0.0516%	1h	0.000005077	+0.500%	$191K	$863K	10x	as long as short
Aster 1000PEPEUSDT	+0.0534%	8h	0.000005075	+0.459%	$1.5M	$7.5M	50x	as long as short
Lighter 1000PEPE	+0.0536%	1h	0.000005071	+0.382%	$664K	$6.8M	10x	as long as short
01 Exchange kPEPEUSD	+0.0584%	1h	0.000005067	+0.303%	$1K	$2K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0602%	1h	0.000005090	+0.752%	$97K	$601K	15x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005084	+0.639%	$4K	$102K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0931%	1h	0.000005088	+0.718%	$62K	$114K	25x	as long as short
Hyperliquid kPEPE	+0.1791%	1h	0.000005096	+0.877%	$57.9M	$130.4M	10x	as long as short