Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.024%

Price spread now: Pacifica against Variational Omni−0.542%7-day average +0.095% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.052%+$5 on $10k

Price spread, last 4 days (all we have)+0.643%+$64 · spread now −0.542%, 7d avg +0.095%

Together, before fees+0.696%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board+$70 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: Pacifica is 0.636% cheaper against Variational Omni than usual: you would sell low and buy high, −$64 on $10k if it goes back to its 7-day average of +0.095%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000004844	0.0100	pay 0.0100% / 8h	2h 15m	$709K	$3.7M	—
Short	Pacifica kPEPE	0.000004818	0.0100	get 0.0013% / 1h	15m 29s	$59K	$113K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.542%Rate

Funding earned: $0
Price spread: −0.542% → +0.095%: −$63.63
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$71.63
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Pacifica: 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, 4 min ago	5.18 bp	doesn't fit	19.7 bp −$197	doesn't fit	doesn't fit
Sell Pacifica live order book, 7 min ago	5.16 bp	16.5 bp −$16	doesn't fit	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
dYdX PEPE-USD	0.0000%	1h	0.000004810	−0.713%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004813	−0.637%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004814	−0.624%	$58.1M	$71.9M	10x	as long as short
Pacifica kPEPEshort	+0.0100%	1h	0.000004818	−0.542%	$59K	$113K	10x
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004818	−0.550%	$88.2M	$274.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004809	−0.727%	$150.2M	$62.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004815	−0.608%	$25.1M	$53.2M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000004844	long leg	$709K	$3.7M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004820	−0.505%	$27K	$341K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004822	−0.467%	$1K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004813	−0.647%	$554K	$3.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0160%	8h	0.000004815	−0.603%	$41.3M	$485.1M	50x	as long as short
Bitget PEPEUSDT	+0.0178%	8h	0.000004813	−0.653%	$42.5M	$151.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004818	−0.546%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0276%	8h	0.000004816	−0.583%	$3.8M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−17.428%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0406%	8h	0.000004810	−0.709%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004807	−0.769%	$577K	$25.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0473%	8h	0.000004808	−0.754%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0507%	8h	0.000004816	−0.590%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004822	−0.459%	$4K	$110K	12x	as long as short
Lighter 1000PEPE	+0.0584%	1h	0.000004822	−0.459%	$608K	$5.2M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0682%	1h	0.000004808	−0.746%	$93K	$622K	15x	as long as short
Nado kPEPE-PERP	+0.0738%	1h	0.000004817	−0.567%	$188K	$848K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0748%	1h	0.000004821	−0.480%	$102K	$762K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0762%	1h	0.000004807	−0.767%	$3.9M	$13.1M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0791%	1h	0.000004809	−0.727%	$81K	$94K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0800%	1h	0.000004807	−0.769%	$2K	$9K	10x	as long as short
BingX 1000PEPE-USDT	+0.0813%	8h	0.000004824	−0.426%	—	$254.8M	—	as long as short
Extended 1000PEPE-USD	+0.0856%	1h	0.000004812	−0.662%	$529K	$147K	25x	as long as short
MEXC PEPE_USDT	+0.0856%	8h	0.000004822	−0.469%	$91.7M	$291.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0856%	1h	0.000004812	−0.665%	$136K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0859%	8h	0.000004821	−0.473%	$128.3M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0889%	8h	0.000004812	−0.672%	$1.5M	$6.8M	50x	as long as short
01 Exchange kPEPEUSD	+0.1216%	1h	0.000004823	−0.438%	$552	$2K	10x	as long as short