Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0793%/8h= −86.9% APRpaid last 24h −0.060%

Price spread now: Pacifica against Aster+0.238%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Aster Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)−0.325%−$32 · spread now +0.238%, 7d avg −0.050%

Together, before fees−0.426%+ Points / potential airdropAster: Stage 5 · Pacifica: Active · farm board−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Pacifica is 0.287% dearer against Aster than usual: you sell high and buy low (spread +0.238% now, against its 7-day average of −0.050%): +$29 on $10k if it goes back. Holding the pair costs −$24 a day in funding at the current rate, which eats that in about 29 hours. At the pace of the last 7 days (−0.101% in total) that is about 20 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.3% 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	Aster 1000PEPEUSDT	0.000004841	0.0893	pay 0.0893% / 8h	2h 21m	$1.5M	$6.8M	50x
Short	Pacifica kPEPE	0.000004852	0.0100	get 0.0013% / 1h	21m 13s	$60K	$113K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Aster. 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 AsterbpFee PacificabpOrdersPrice spread, now +0.238%Rate

Funding earned: −$166.59
Price spread: +0.238% → −0.050%: $28.75
Slippage, 4 orders: −$29.84
Fee Aster: 4 bp × 2 orders: −$8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$183.68
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from Aster: live order book, 3 min ago; Pacifica: 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 Aster live order book, 3 min ago	1.23 bp	10.3 bp −$10	18.6 bp −$186	doesn't fit	doesn't fit
Sell Pacifica live order book, 1 min ago	5.16 bp	16.5 bp −$16	doesn't fit	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	0.000004844	+0.079%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004835	−0.109%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004833	−0.155%	$57.9M	$71.4M	10x	as long as short
Pacifica kPEPEshort	+0.0100%	1h	0.000004852	+0.238%	$60K	$113K	10x
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004832	−0.176%	$88.1M	$274.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004833	−0.155%	$151.0M	$62.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004837	−0.068%	$25.1M	$53.1M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004837	−0.065%	$705K	$3.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004858	+0.362%	$27K	$338K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004854	+0.283%	$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	0.000004852	+0.236%	$559K	$3.5M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0152%	8h	0.000004835	−0.114%	$41.5M	$488.2M	50x	as long as short
Bitget PEPEUSDT	+0.0180%	8h	0.000004832	−0.176%	$42.8M	$152.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004839	−0.034%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0271%	8h	0.000004842	+0.031%	$3.8M	$21.9M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−17.364%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0399%	8h	0.000004844	+0.081%	$30K	$11K	20x	as long as short
Phemex u1000PEPEUSDT	+0.0456%	8h	0.000004836	−0.099%	$2.3M	$6.4M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004841	+0.010%	$580K	$25.3M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0484%	8h	0.000004852	+0.239%	$5K	$16	20x	as long as short
Lighter 1000PEPE	+0.0504%	1h	0.000004842	+0.031%	$615K	$5.2M	10x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004861	+0.424%	$4K	$110K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0668%	1h	0.000004835	−0.124%	$93K	$623K	15x	as long as short
Nado kPEPE-PERP	+0.0699%	1h	0.000004849	+0.182%	$192K	$847K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0757%	1h	0.000004837	−0.067%	$3.9M	$13.0M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0784%	1h	0.000004841	+0.010%	$82K	$94K	25x	as long as short
BingX 1000PEPE-USDT	+0.0808%	8h	0.000004836	−0.101%	—	$255.0M	—	as long as short
SoDEX 1000PEPE-USD	+0.0811%	1h	0.000004838	−0.052%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0840%	1h	0.000004860	+0.403%	$101K	$761K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0848%	1h	0.000004844	+0.072%	$137K	—	3x	as long as short
MEXC PEPE_USDT	+0.0852%	8h	0.000004838	−0.052%	$91.1M	$290.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0855%	8h	0.000004837	−0.081%	$128.7M	$1.02B	75x	as long as short
Extended 1000PEPE-USD	+0.0856%	1h	0.000004838	−0.048%	$532K	$147K	25x	as long as short
Aster 1000PEPEUSDTlong	+0.0893%	8h	0.000004841	long leg	$1.5M	$6.8M	50x
01 Exchange kPEPEUSD	+0.1232%	1h	0.000004855	+0.300%	$556	$2K	10x	as long as short