Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0089%/8h= +9.7% APRpaid last 24h +0.027%

Price spread now: Reya against Variational Omni−0.386%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Reya: Active · farm boardneeds both histories

Funding pays, the price is against you. Reya is 0.386% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.386% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$39 on $10k: about 14 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000005209	0.0100	pay 0.0100% / 8h	3h 09m	$661K	$5.2M	—
Short	Reya kPEPERUSDPERP	0.000005188	0.0189	get 0.0024% / 1h	9m 50s	$8K	—	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.386%Rate

Funding earned: $18.67
Price spread: −0.386% → 0.000%: −$38.62
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Reya: 3 bp × 2 orders: −$6
Net: −$25.95
Costs to cover: 0.060%
Break-even: 16.7 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Reya: no order-book sample. 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	4.81 bp	doesn't fit	22.1 bp −$221	doesn't fit	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.000005187	−0.422%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005179	−0.573%	$14K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+2.274%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005196	−0.241%	$65K	$163K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005189	−0.369%	$104.9M	$385.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005194	−0.279%	$171.2M	$89.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005197	−0.214%	$26.0M	$68.7M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000005209	long leg	$661K	$5.2M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005220	+0.225%	$29K	$534K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005196	−0.248%	$1K	$2.5M	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	0.000005190	−0.348%	$584K	$4.0M	75x	as long as short
Reya kPEPERUSDPERPshort	+0.0189%	1h	0.000005188	−0.386%	$8K	—	15x
Bitget PEPEUSDT	+0.0329%	8h	0.000005199	−0.179%	$50.5M	$191.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0402%	8h	0.000005191	−0.329%	$35K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0423%	8h	0.000005195	−0.260%	$50.1M	$675.9M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0465%	1h	0.000005193	−0.298%	$2K	$10K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0522%	1h	0.000005187	−0.413%	$74K	$126K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0523%	8h	0.000005199	−0.173%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0556%	8h	0.000005209	+0.009%	$4.8M	$28.2M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0688%	8h	0.000005191	−0.335%	$2.5M	$7.7M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005193	−0.298%	$716K	$36.2M	50x	as long as short
BingX 1000PEPE-USDT	+0.0778%	8h	0.000005200	−0.172%	—	$236.0M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0819%	1h	0.000005224	+0.297%	$161K	$809K	25x	as long as short
MEXC PEPE_USDT	+0.0821%	8h	0.000005200	−0.170%	$98.2M	$297.2M	300x	as long as short
Extended 1000PEPE-USD	+0.0824%	1h	0.000005198	−0.198%	$550K	$236K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0824%	1h	0.000005192	−0.317%	$147K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0826%	8h	0.000005195	−0.254%	$149.5M	$1.34B	75x	as long as short
Nado kPEPE-PERP	+0.0864%	1h	0.000005191	−0.340%	$178K	$922K	10x	as long as short
Aster 1000PEPEUSDT	+0.0911%	8h	0.000005197	−0.229%	$1.8M	$10.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0976%	1h	0.000005203	−0.106%	$628	$3K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1000% / S −0.2021%	1h	0.000005000	−4.004%	$64K	—	100x	as long as short
Lighter 1000PEPE	+0.1104%	1h	0.000005198	−0.202%	$660K	$8.9M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1135%	1h	0.000005193	−0.306%	$68K	$724K	15x	as long as short
Hyperliquid kPEPE	+0.1480%	1h	0.000005201	−0.145%	$56.5M	$146.2M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1573%	1h	0.000005189	−0.368%	$4.8M	$16.4M	50x	as long as short