Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0509%/8h= +55.8% APRpaid last 24h +0.065%

Price spread now: Nado against Variational Omni+0.178%7-day average +0.098% · you sell dearer than you buy

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.102%+$10 on $10k

Price spread, last 3 days (all we have)−0.179%−$18 · spread now +0.178%, 7d avg +0.098%

Together, before fees−0.076%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Nado is 0.080% dearer against Variational Omni than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.098%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.102% in total (about 11.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000004725	0.0100	pay 0.0100% / 8h	6m 01s	$544K	$4.2M	—
Short	Nado kPEPE-PERP	0.000004733	0.0609	get 0.0076% / 1h	6m 01s	$179K	$849K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. 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 Variational OmnibpFee NadobpOrdersPrice spread, now +0.178%Rate

Funding earned: $106.94
Price spread: +0.178% → +0.098%: $8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $107.94
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Nado: live order book, 7 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, 3 min ago	6.36 bp	doesn't fit	12.7 bp −$127	doesn't fit	doesn't fit
Sell Nado live order book, 7 min ago	3.17 bp	10.5 bp −$10	27.2 bp −$272	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
Hyperliquid kPEPE	−0.0332%	1h	0.000004727	+0.045%	$68.5M	$98.9M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004727	+0.053%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004724	−0.014%	$14K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004728	+0.073%	$3.8M	$13.9M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004727	+0.045%	$55K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004733	+0.183%	$87.0M	$294.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004728	+0.066%	$149.8M	$65.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004731	+0.132%	$24.2M	$54.8M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004737	+0.257%	$41.9M	$151.0M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000004725	long leg	$544K	$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	0.000004722	−0.053%	$25K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0100%	1h	0.000004722	−0.061%	$99K	$754K	25x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004736	+0.240%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004730	+0.109%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004731	+0.132%	$535K	$3.5M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0177%	8h	0.000004731	+0.127%	$5K	$16	20x	as long as short
Lighter 1000PEPE	+0.0184%	1h	0.000004734	+0.193%	$571K	$6.6M	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004729	+0.091%	$7K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0190%	8h	0.000004733	+0.164%	$2.3M	$6.5M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0198%	8h	0.000004739	+0.299%	$42.1M	$496.6M	50x	as long as short
01 Exchange kPEPEUSD	+0.0312%	1h	0.000004735	+0.215%	$542	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0325%	8h	0.000004730	+0.109%	$3.9M	$22.3M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0348%	8h	0.000004727	+0.047%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0391% / S −0.0429%	1h	0.000004000	−15.341%	$43K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004711	−0.293%	$568K	$25.3M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004728	+0.066%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0526%	1h	0.000004733	+0.164%	$92K	$603K	15x	as long as short
Aster 1000PEPEUSDT	+0.0558%	8h	0.000004735	+0.207%	$1.5M	$7.3M	50x	as long as short
BingX 1000PEPE-USDC	+0.0559%	8h	0.000004727	+0.054%	—	$2.3M	—	as long as short
Binance 1000PEPEUSDT	+0.0566%	8h	0.000004733	+0.181%	$132.4M	$1.07B	75x	as long as short
Extended 1000PEPE-USD	+0.0568%	1h	0.000004735	+0.220%	$518K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0568%	8h	0.000004732	+0.149%	$88.4M	$283.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0568%	1h	0.000004730	+0.109%	$134K	—	3x	as long as short
Nado kPEPE-PERPshort	+0.0609%	1h	0.000004733	+0.178%	$179K	$849K	10x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0808%	1h	0.000004729	+0.088%	$76K	$98K	25x	as long as short