Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0564%/8h= −61.8% APRpaid last 24h −0.055%

Price spread now: BloFin against 01 Exchange−0.059%98s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and BloFin is 0.059% cheaper against 01 Exchange than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 98 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	01 Exchange kPEPEUSD	0.000005060	0.0984	pay 0.0123% / 1h	39m 28s	$610	$3K	10x
Short	BloFin PEPE-USDT	0.000005057	0.0420	get 0.0420% / 8h	5h 39m	$4.4M	$25.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against 01 Exchange. 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 01 ExchangebpFee BloFinbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$118.43
Price spread: −0.059% → 0.000%: −$5.93
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$143.36
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; BloFin: live order book, 5 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 01 Exchange no order-book sample	—	—	—	—	—
Sell BloFin live order book, 5 min ago	1.98 bp	8.0 bp −$8	11.7 bp −$117	42.7 bp −$4,272	104.1 bp −$52.0K

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	0.000005045	−0.297%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005035	−0.500%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005049	−0.217%	$64K	$136K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005046	−0.275%	$98.7M	$333.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005052	−0.158%	$165.6M	$74.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005042	−0.350%	$25.3M	$62.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005044	−0.322%	$46.3M	$171.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005050	−0.207%	$680K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005056	−0.073%	$27K	$423K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005069	+0.174%	$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	0.000005062	+0.032%	$578K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005045	−0.303%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0309%	8h	0.000005048	−0.237%	$45.9M	$583.1M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0314%	8h	0.000005071	+0.221%	$33K	$24K	20x	as long as short
BloFin PEPE-USDTshort	+0.0420%	8h	0.000005057	−0.059%	$4.4M	$25.2M	75x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0540%	1h	0.000005065	+0.099%	$61K	$114K	25x	as long as short
BingX 1000PEPE-USDT	+0.0565%	8h	0.000005039	−0.413%	—	$260.8M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0572% / S −0.0881%	1h	0.000005000	−1.186%	$49K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005071	+0.217%	$839K	$31.1M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0589%	1h	0.000005068	+0.158%	$2K	$12K	10x	as long as short
Extended 1000PEPE-USD	+0.0600%	1h	0.000005055	−0.106%	$536K	$221K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0600%	1h	0.000005069	+0.178%	$143K	—	3x	as long as short
MEXC PEPE_USDT	+0.0602%	8h	0.000005043	−0.334%	$96.0M	$287.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0605%	8h	0.000005049	−0.227%	$141.5M	$1.20B	75x	as long as short
Phemex u1000PEPEUSDT	+0.0641%	8h	0.000005071	+0.217%	$2.4M	$7.0M	50x	as long as short
Aster 1000PEPEUSDT	+0.0700%	8h	0.000005052	−0.156%	$1.8M	$9.0M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0757%	8h	0.000005042	−0.356%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0901%	1h	0.000005049	−0.225%	$184K	$866K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0941%	1h	0.000005067	+0.132%	$99K	$618K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+0.889%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSDlong	+0.0984%	1h	0.000005060	long leg	$610	$3K	10x
ApeX Omni 1000PEPEUSDT	+0.0992%	1h	0.000005065	+0.099%	$99K	$752K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.1373%	1h	0.000005068	+0.161%	$4.2M	$15.1M	50x	as long as short
Lighter 1000PEPE	+0.1520%	1h	0.000005048	−0.237%	$717K	$8.0M	10x	as long as short
Hyperliquid kPEPE	+0.1814%	1h	0.000005053	−0.138%	$55.5M	$137.2M	10x	as long as short