Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0211%/8hpaid last 24h −0.006%

Price spread now: HTX against ApeX Omni−0.024%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on ApeX Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.076%+$8 · spread now −0.024%, 7d avg +0.051%

Together, before fees+0.098%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and HTX is 0.075% cheaper against ApeX Omni than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.051%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.022% in total (about 1.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni 1000PEPEUSDT	0.000004948	0.0311	pay 0.0039% / 1h	22m 33s	$92K	$753K	25x
Short	HTX PEPE-USDT	0.000004947	0.0100	get 0.0100% / 8h	4h 22m	$572K	$3.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against ApeX 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 ApeX OmnibpFee HTXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$44.32
Price spread: −0.024% → +0.051%: −$7.52
Slippage, 4 orders: −$33.72
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$107.56
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 10 min ago; HTX: live order book, 1 min ago.

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 ApeX Omni live order book, 10 min ago	6.47 bp	14.3 bp −$14	86.3 bp −$863	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	6.76 bp	12.9 bp −$13	23.3 bp −$233	doesn't fit	doesn't fit

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	0.000004950	+0.040%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0002%	1h	0.000004940	−0.166%	$24K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004951	+0.061%	$59K	$103K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004944	−0.089%	$88.7M	$255.4M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004943	−0.101%	$43.4M	$480.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004950	+0.040%	$150.6M	$58.2M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004949	+0.024%	$25.5M	$45.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004915	−0.657%	$696K	$3.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004945	−0.052%	$28K	$329K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004949	+0.020%	$2K	$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-USDTshort	+0.0100%	8h	0.000004947	−0.024%	$572K	$3.7M	75x
Bitget PEPEUSDT	+0.0133%	8h	0.000004943	−0.101%	$46.7M	$135.5M	75x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	0.000004950	+0.049%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004946	−0.040%	$4.2M	$21.0M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0274%	8h	0.000004949	+0.022%	$30K	$9K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0277% / S −0.0265%	1h	0.000004000	−19.159%	$44K	—	100x	as long as short
SoDEX 1000PEPE-USD	+0.0290%	1h	0.000004954	+0.121%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDTlong	+0.0311%	1h	0.000004948	long leg	$92K	$753K	25x
Hyperliquid kPEPE	+0.0440%	1h	0.000004956	+0.162%	$56.5M	$61.5M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0488%	8h	0.000004949	+0.026%	$6K	$26	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0496%	1h	0.000004947	−0.020%	$636K	$24.9M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0502%	8h	0.000004949	+0.012%	$2.4M	$6.1M	50x	as long as short
Nado kPEPE-PERP	+0.0674%	1h	0.000004939	−0.191%	$197K	$793K	10x	as long as short
BingX 1000PEPE-USDC	+0.0749%	8h	0.000004951	+0.067%	—	$2.3M	—	as long as short
01 Exchange kPEPEUSD	+0.0752%	1h	0.000004954	+0.121%	$567	$2K	10x	as long as short
Lighter 1000PEPE	+0.0752%	1h	0.000004956	+0.162%	$601K	$5.0M	10x	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000004953	+0.103%	$544K	$147K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000004935	−0.263%	$140K	—	3x	as long as short
MEXC PEPE_USDT	+0.0794%	8h	0.000004950	+0.040%	$112.5M	$268.4M	300x	as long as short
Binance 1000PEPEUSDT	+0.0794%	8h	0.000004947	−0.026%	$129.8M	$948.3M	75x	as long as short
Backpack kPEPE_USDC_PERP	+0.0862%	1h	0.000004950	+0.040%	$95K	$572K	15x	as long as short
Aster 1000PEPEUSDT	+0.0909%	8h	0.000004954	+0.117%	$1.5M	$6.4M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0964%	1h	0.000004947	−0.020%	$84K	$86K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.1532%	1h	0.000004946	−0.032%	$4.0M	$11.9M	50x	as long as short
Injective PEPE/USDC PERP	+0.2268%	1h	0.000004970	+0.445%	$5K	$68K	12x	as long as short