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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.006%

Price spread now: Gate against Variational Omni+0.089%7-day average +0.053% · you sell dearer than you buy

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

Long on Variational Omni Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 7 days−0.035%−$4 · spread now +0.089%, 7d avg +0.053%

Together, before fees−0.033%+ Points / potential airdropVariational Omni: Active · farm board−$3 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 0.036% dearer against Variational Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000004715	0.0100	pay 0.0100% / 8h	10m 37s	$567K	$4.2M	—
Short	Gate PEPE_USDT	0.000004719	0.0100	get 0.0100% / 8h	10m 37s	$149.0M	$65.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.089%Rate

Funding earned: $0
Price spread: +0.089% → +0.053%: $3.6
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$11.4
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Gate: live order book, 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 Variational Omni RFQ quote, 4 min ago	6.35 bp	doesn't fit	12.7 bp −$127	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.06 bp	10.6 bp −$11	18.3 bp −$183	56.9 bp −$5,695	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	−0.0311%	1h	0.000004710	−0.102%	$68.9M	$96.5M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004717	+0.042%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004712	−0.068%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0068%	1h	0.000004714	−0.025%	$3.8M	$13.8M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004719	+0.089%	$55K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004721	+0.131%	$86.6M	$293.6M	50x	as long as short
Gate PEPE_USDTshort	+0.0100%	8h	0.000004719	+0.089%	$149.0M	$65.0M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004718	+0.068%	$24.0M	$54.7M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004723	+0.178%	$41.8M	$150.7M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000004715	long leg	$567K	$4.2M	—

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004726	+0.233%	$25K	$349K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004728	+0.280%	$99K	$755K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004725	+0.208%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004716	+0.025%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004719	+0.093%	$533K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0168%	1h	0.000004725	+0.216%	$568K	$6.6M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0174%	8h	0.000004717	+0.049%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004716	+0.026%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0202%	8h	0.000004722	+0.152%	$41.6M	$493.6M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0203%	8h	0.000004717	+0.036%	$2.3M	$6.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0304%	1h	0.000004724	+0.195%	$541	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0324%	8h	0.000004719	+0.089%	$3.8M	$22.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0357%	8h	0.000004718	+0.057%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0388% / S −0.0313%	1h	0.000004000	−15.161%	$49K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004717	+0.046%	$566K	$25.3M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004732	+0.364%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0537%	1h	0.000004715	+0.004%	$89K	$601K	15x	as long as short
Aster 1000PEPEUSDT	+0.0564%	8h	0.000004719	+0.091%	$1.5M	$7.3M	50x	as long as short
BingX 1000PEPE-USDC	+0.0569%	8h	0.000004717	+0.053%	—	$2.3M	—	as long as short
MEXC PEPE_USDT	+0.0574%	8h	0.000004724	+0.186%	$87.9M	$282.7M	300x	as long as short
Binance 1000PEPEUSDT	+0.0575%	8h	0.000004723	+0.165%	$131.7M	$1.07B	75x	as long as short
Extended 1000PEPE-USD	+0.0576%	1h	0.000004723	+0.183%	$518K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0576%	1h	0.000004719	+0.089%	$133K	—	3x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0599%	1h	0.000004714	−0.017%	$76K	$98K	25x	as long as short
Nado kPEPE-PERP	+0.0631%	1h	0.000004716	+0.021%	$178K	$849K	10x	as long as short