Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0027%/8h= +2.9% APRpaid last 24h −0.119%

Price spread now: Phemex against 01 Exchange−0.114%7-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 Phemex

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

Funding pays, the price is against you. Phemex is 0.114% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.114% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 14 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange kPEPEUSD	0.000004987	0.0672	pay 0.0084% / 1h	56m 10s	$602	$3K	10x
Short	Phemex u1000PEPEUSDT	0.000004981	0.0699	get 0.0699% / 8h	2h 56m	$2.3M	$7.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.114%Rate

Funding earned: $5.59
Price spread: −0.114% → 0.000%: −$11.43
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$24.84
Costs to cover: 0.190%
Break-even: 38.1 days

Slippage unknown: 01 Exchange: no order-book sample; Phemex: live order book, 3 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 Phemex live order book, 3 min ago	15.15 bp	28.6 bp −$29	42.6 bp −$426	doesn't fit	doesn't fit

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	0.000004979	−0.170%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004975	−0.237%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004980	−0.140%	$62K	$165K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004983	−0.084%	$98.1M	$397.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004983	−0.080%	$160.3M	$92.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004987	+0.004%	$24.7M	$69.9M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005026	+0.774%	$596K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005047	+1.211%	$28K	$537K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004987	−0.008%	$2K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004985	−0.032%	$559K	$4.1M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004978	−0.171%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0352%	8h	0.000004988	+0.014%	$45.3M	$205.2M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0409%	8h	0.000004987	0.000%	$45.7M	$670.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0416%	8h	0.000004984	−0.066%	$33K	$27K	20x	as long as short
Lighter 1000PEPE	+0.0456%	1h	0.000004991	+0.080%	$601K	$9.0M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0547%	8h	0.000004985	−0.037%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0553%	8h	0.000004972	−0.301%	$4.7M	$27.5M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0579%	1h	0.000004987	−0.008%	$73K	$825K	15x	as long as short
SoDEX 1000PEPE-USD	+0.0590%	1h	0.000004981	−0.120%	$2K	$10K	10x	as long as short
01 Exchange kPEPEUSDlong	+0.0672%	1h	0.000004987	long leg	$602	$3K	10x
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000004990	+0.060%	$641K	$36.2M	50x	as long as short
Phemex u1000PEPEUSDTshort	+0.0699%	8h	0.000004981	−0.114%	$2.3M	$7.8M	50x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0754%	1h	0.000004985	−0.040%	$71K	$127K	25x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0767%	1h	0.000005019	+0.642%	$154K	$810K	25x	as long as short
BingX 1000PEPE-USDT	+0.0788%	8h	0.000004988	+0.012%	—	$238.0M	—	as long as short
Binance 1000PEPEUSDT	+0.0805%	8h	0.000004987	+0.002%	$141.7M	$1.38B	75x	as long as short
MEXC PEPE_USDT	+0.0807%	8h	0.000004991	+0.078%	$98.3M	$297.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0808%	1h	0.000004981	−0.118%	$528K	$262K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0816%	1h	0.000004989	+0.040%	$141K	—	3x	as long as short
Kraken Futures PF_PEPEUSD	+0.0857%	1h	0.000004983	−0.071%	$4.6M	$16.7M	50x	as long as short
Aster 1000PEPEUSDT	+0.0880%	8h	0.000004982	−0.091%	$1.7M	$10.9M	50x	as long as short
Hyperliquid kPEPE	+0.0995%	1h	0.000004992	+0.100%	$52.8M	$149.9M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1037% / S −0.1548%	1h	0.000004000	−19.791%	$68K	—	100x	as long as short
Nado kPEPE-PERP	+0.1134%	1h	0.000004981	−0.128%	$168K	$937K	10x	as long as short
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005327	+6.818%	$3K	$111K	12x	as long as short