Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0520%/8h= +56.9% APRpaid last 24h +0.038%

Price spread now: SoDEX against Variational Omni+0.242%60s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on SoDEX

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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and SoDEX is 0.242% dearer against Variational Omni than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000005092	0.0100	pay 0.0100% / 8h	6h 26m	$624K	$4.5M	—
Short	SoDEX 1000PEPE-USD	0.000005104	0.0620	get 0.0078% / 1h	26m 21s	$2K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.242%Rate

Funding earned: $109.21
Price spread: +0.242% → 0.000%: $24.24
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $125.45
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; SoDEX: 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, 3 min ago	4.95 bp	doesn't fit	18.8 bp −$188	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 34 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	0.000005107	+0.294%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005091	−0.007%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005113	+0.419%	$62K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005092	+0.009%	$98.9M	$322.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005095	+0.066%	$162.4M	$70.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005100	+0.154%	$25.2M	$60.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005097	+0.109%	$47.2M	$160.6M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000005092	long leg	$624K	$4.5M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005065	−0.518%	$27K	$406K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005114	+0.431%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005103	+0.225%	$575K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005100	+0.161%	$8K	—	15x	as long as short
Phemex u1000PEPEUSDT	+0.0215%	8h	0.000005098	+0.121%	$2.4M	$6.9M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0232%	8h	0.000005097	+0.105%	$45.3M	$571.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0277%	8h	0.000005100	+0.174%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0321%	1h	0.000005065	−0.524%	$107K	$746K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005110	+0.360%	$661K	$29.5M	50x	as long as short
BingX 1000PEPE-USDC	+0.0483%	8h	0.000005099	+0.144%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0511% / S −0.0869%	1h	0.000005000	−1.800%	$48K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0520%	1h	0.000005116	+0.485%	$563K	$199K	25x	as long as short
MEXC PEPE_USDT	+0.0520%	8h	0.000005097	+0.113%	$95.6M	$290.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0520%	1h	0.000005110	+0.360%	$144K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0526%	8h	0.000005099	+0.144%	$144.0M	$1.17B	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0548%	8h	0.000005110	+0.366%	$6K	$16	20x	as long as short
Nado kPEPE-PERP	+0.0595%	1h	0.000005104	+0.247%	$183K	$881K	10x	as long as short
SoDEX 1000PEPE-USDshort	+0.0620%	1h	0.000005104	+0.242%	$2K	$12K	10x
Aster 1000PEPEUSDT	+0.0629%	8h	0.000005110	+0.361%	$1.7M	$8.1M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0816%	1h	0.000005102	+0.207%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005070	−0.425%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0933%	1h	0.000005109	+0.341%	$103K	$616K	15x	as long as short
01 Exchange kPEPEUSD	+0.0984%	1h	0.000005117	+0.498%	$1K	$2K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1122%	1h	0.000005108	+0.321%	$62K	$114K	25x	as long as short
Lighter 1000PEPE	+0.1512%	1h	0.000005122	+0.596%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2235%	1h	0.000005109	+0.341%	$56.5M	$135.9M	10x	as long as short