Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0428%/8h= +46.9% APRpaid last 24h +0.102%

Price spread now: 01 Exchange against Variational Omni+0.453%7-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 01 Exchange

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 +$13 a day on $10k at the current rate, and 01 Exchange is 0.453% dearer against Variational Omni than usual: you sell high and buy low: +$45 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000004845	0.0100	pay 0.0100% / 8h	1h 42m	$545K	$3.9M	—
Short	01 Exchange kPEPEUSD	0.000004867	0.0528	get 0.0066% / 1h	42m 31s	$558	$2K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

01 Exchange 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 01 ExchangebpOrdersPrice spread, now +0.453%Rate

Funding earned: $89.88
Price spread: +0.453% → 0.000%: $45.33
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Net: $128.21
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; 01 Exchange: 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, 2 min ago	11.39 bp	doesn't fit	17.6 bp −$176	doesn't fit	doesn't fit
Sell 01 Exchange no order-book sample	—	—	—	—	—

01 Exchange: 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	0.000004837	−0.156%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004828	−0.343%	$14K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004840	−0.104%	$624K	$5.4M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004839	−0.125%	$61.0M	$76.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004840	−0.104%	$60K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004858	+0.263%	$88.2M	$278.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004836	−0.187%	$150.9M	$62.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004839	−0.125%	$25.0M	$53.7M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000004845	long leg	$545K	$3.9M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004840	−0.098%	$27K	$344K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004849	+0.076%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004834	−0.228%	$2K	$9K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004844	−0.019%	$550K	$3.5M	75x	as long as short
Bitget PEPEUSDT	+0.0164%	8h	0.000004860	+0.315%	$42.8M	$151.4M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004862	+0.348%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0201%	8h	0.000004860	+0.309%	$41.6M	$493.8M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0316% / S −0.0215%	1h	0.000004000	−17.441%	$52K	—	100x	as long as short
BloFin PEPE-USDT	+0.0324%	8h	0.000004842	−0.063%	$3.9M	$22.2M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0422%	8h	0.000004845	−0.005%	$5K	$16	20x	as long as short
Phemex u1000PEPEUSDT	+0.0433%	8h	0.000004840	−0.112%	$2.3M	$6.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0440%	8h	0.000004832	−0.275%	$30K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0448%	1h	0.000004847	+0.040%	$617K	$25.6M	50x	as long as short
01 Exchange kPEPEUSDshort	+0.0528%	1h	0.000004867	+0.453%	$558	$2K	10x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0578%	1h	0.000004833	−0.248%	$82K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0673%	1h	0.000004838	−0.143%	$92K	$614K	15x	as long as short
Nado kPEPE-PERP	+0.0760%	1h	0.000004859	+0.296%	$187K	$854K	10x	as long as short
BingX 1000PEPE-USDT	+0.0828%	8h	0.000004857	+0.239%	—	$256.0M	—	as long as short
Extended 1000PEPE-USD	+0.0848%	1h	0.000004857	+0.238%	$532K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0850%	8h	0.000004843	−0.036%	$91.9M	$283.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0850%	8h	0.000004857	+0.252%	$130.9M	$1.03B	75x	as long as short
Aevo 1000PEPE-PERP	+0.0864%	1h	0.000004836	−0.187%	$137K	—	3x	as long as short
Injective PEPE/USDC PERP	+0.0873%	1h	0.000004868	+0.474%	$4K	$103K	12x	as long as short
Aster 1000PEPEUSDT	+0.0878%	8h	0.000004842	−0.060%	$1.5M	$7.0M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0935%	1h	0.000004841	−0.083%	$103K	$764K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.1319%	1h	0.000004835	−0.215%	$4.0M	$13.2M	50x	as long as short