Funding arb · Price arb / Crypto

PEPE

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LONGVariational Omni▾Bitget −0.0316%TxFlow −0.0124%Bybit −0.0069%dYdX 0.0000%Paradex +0.0047%Orderly +0.0077%Lighter +0.0096%Popdex +0.0096%Aevo +0.0096%KuCoin +0.0099%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%OKX +0.0100%Gate +0.0100%MEXC +0.0100%BingX +0.0100%Variational Omni +0.0100%edgeX +0.0100%GRVT +0.0100%Nado +0.0100%SunX +0.0100%HTX +0.0100%AZverse +0.0100%Extended +0.0104%Phemex +0.0220%BloFin +0.0220%Phoenix +0.0281%gTrade (Gains Network) +0.0318%N1 +0.0440%SoDEX +0.0530%Hyperliquid +0.0583%GMX +0.0610%Injective +0.0702%Deribit +0.0859%Backpack +0.1005%Kraken Futures +0.1075%ApeX Omni +0.2281%

⇄⇅

SHORTPolymarket Perps▾ApeX Omni +0.2281%GMX −0.1121%Kraken Futures +0.1075%Backpack +0.1005%Deribit +0.0859%Injective +0.0702%Hyperliquid +0.0583%SoDEX +0.0530%N1 +0.0440%Phoenix +0.0281%BloFin +0.0220%Phemex +0.0220%Extended +0.0104%Aster +0.0100%Pacifica +0.0100%Binance +0.0100%OKX +0.0100%Gate +0.0100%MEXC +0.0100%BingX +0.0100%edgeX +0.0100%GRVT +0.0100%Nado +0.0100%SunX +0.0100%HTX +0.0100%AZverse +0.0100%KuCoin +0.0099%Popdex +0.0096%Aevo +0.0096%Lighter +0.0096%Orderly +0.0077%Paradex +0.0047%dYdX 0.0000%gTrade (Gains Network) +0.0046%Bybit −0.0069%TxFlow −0.0124%Bitget −0.0316%Polymarket Perps −0.0427%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	Variational Omni1000PEPE	0.000004513	+0.0100	pay 0.0100% / 8h	7h 52m	$879K	$11.2M	50x	Long Variational Omni+15% pts
SHORT	Polymarket PerpsKPEPE-USD	0.000004508	−0.0427	pay 0.0053% / 1h	52m 55s	$230K	$716K	10x	Short Polymarket Perps

Price gap−0.102%

Funding gap−0.0527% /8h

Both sides work against this direction now: funding costs $16 a day on $10k and the gap is 0.231% under its 7d average. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.178% in total, about −0.0085%/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−0.102%

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

Variational OmniPolymarket Perps

PEPE on 39 exchanges

lowest funding first

Before you open

2 ok · 4 to watch

• !
  Watch: Thin at this size18.9 / 9.5 bp

  At $10k entering Variational Omni costs 18.9 bp, fee and slippage, 2.0× Polymarket Perps’s.
• i
  Note: Margin at max leverage$200 + $1,000

  Variational Omni 50x, Polymarket Perps 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ8h / 1h

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

  Long Variational Omni · 8h−$3.00

  Short Polymarket Perps · 1h−$12.81

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

  Next 24h at the current rates, on $10k a leg: −$15.81Long Variational Omni: 3 payments, −$3.00; short Polymarket Perps: 24 payments, −$12.81.
• !
  Watch: Gap narrower than usual−0.102% vs +0.130%

  Less room for the price leg to pay you. If it goes back to average, the short loses.
• !
  Watch: Short leg is thinner$230K vs $879K 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 legVariational Omni No · Polymarket Perps 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−0.0085%/8h × 21 periods−$17.78

Price spread−0.102% → +0.130% (7d avg)−$23.12

Slippage, 4 orderslive order books−$56.30

Fee Variational Omni bp × 2 orders$0.00

Fee Polymarket Perps bp × 2 orders−$8.00

Net · 7 days · $10k−$105.20

Costs to cover0.643%Break-evennever at this rate

Slippage: Variational Omni: RFQ quote, 5 min ago; Polymarket Perps: live order book, 34 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGVariational Omni5.5518.9 bp−$1930.0 bp−$30074.3 bp−$7,434doesn’t fit

SELL · SHORTPolymarket Perps5.489.5 bp−$913.4 bp−$134doesn’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 ↗