Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0155%/8h= −17.0% APRpaid last 24h +0.050%

Price spread now: Coinbase International against Binance+0.098%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$410.405% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.200%−$20 · spread now +0.098%, 7d avg −0.035%

Together, before fees−0.191%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.133% dearer against Binance than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of −0.035%): +$13 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance 1000PEPEUSDT	0.000005162	0.0779	pay 0.0779% / 8h	1h 50m	$142.6M	$1.45B	75x
Short	Coinbase International 1000PEPE-PERP-INTX	0.000005167	0.0624	get 0.0078% / 1h	50m 37s	$684K	$38.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$32.56
Price spread: +0.098% → −0.035%: $13.35
Slippage, 4 orders: −$20.55
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$59.76
Costs to cover: 0.405%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Coinbase International: live order book, 4 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 Binance live order book, 8 min ago	0.10 bp	8.3 bp −$8	12.8 bp −$128	34.0 bp −$3,402	doesn't fit
Sell Coinbase International live order book, 4 min ago	4.84 bp	12.7 bp −$13	17.2 bp −$172	54.4 bp −$5,441	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
Injective PEPE/USDC PERP	−0.0016%	1h	0.000005159	−0.057%	$10K	$119K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005159	−0.064%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005158	−0.078%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005162	+0.002%	$60K	$180K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005165	+0.052%	$101.6M	$414.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005163	+0.021%	$164.5M	$95.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005160	−0.041%	$25.8M	$72.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005155	−0.141%	$615K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005165	+0.067%	$28K	$540K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005172	+0.197%	$2K	$2.6M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005161	−0.018%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005145	−0.328%	$592K	$4.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005162	+0.005%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0305%	8h	0.000005163	+0.025%	$46.3M	$214.1M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0379%	8h	0.000005160	−0.028%	$34K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0417%	8h	0.000005169	+0.137%	$48.4M	$725.3M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0453%	1h	0.000005156	−0.109%	$4.7M	$16.8M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0464%	1h	0.000005159	−0.062%	$73K	$849K	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0513%	8h	0.000005168	+0.113%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0539%	8h	0.000005154	−0.153%	$4.5M	$29.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0575%	8h	0.000005154	−0.146%	$2.4M	$8.0M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTXshort	+0.0624%	1h	0.000005167	+0.098%	$684K	$38.6M	50x
ApeX Omni 1000PEPEUSDT	+0.0629%	1h	0.000005167	+0.098%	$156K	$820K	25x	as long as short
01 Exchange kPEPEUSD	+0.0664%	1h	0.000005169	+0.137%	$623	$3K	10x	as long as short
Lighter 1000PEPE	+0.0672%	1h	0.000005164	+0.040%	$621K	$9.0M	10x	as long as short
Nado kPEPE-PERP	+0.0711%	1h	0.000005164	+0.040%	$164K	$956K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0719%	1h	0.000005163	+0.021%	$74K	$127K	25x	as long as short
BingX 1000PEPE-USDC	+0.0751%	8h	0.000005163	+0.025%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0776%	1h	0.000005164	+0.033%	$547K	$285K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0776%	1h	0.000005160	−0.037%	$146K	—	3x	as long as short
MEXC PEPE_USDT	+0.0779%	8h	0.000005169	+0.139%	$98.8M	$302.4M	300x	as long as short
Binance 1000PEPEUSDTlong	+0.0779%	8h	0.000005162	long leg	$142.6M	$1.45B	75x
Aster 1000PEPEUSDT	+0.0795%	8h	0.000005160	−0.040%	$1.8M	$11.6M	50x	as long as short
Hyperliquid kPEPE	+0.0945%	1h	0.000005165	+0.060%	$55.1M	$154.5M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1133% / S −0.2351%	1h	0.000005000	−3.137%	$63K	—	100x	as long as short