Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0365%/8h= +39.9% APRpaid last 24h +0.044%

Price spread now: Injective against BingX+0.082%102s7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1101.098% of the position

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.281%+$28 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Injective is 0.082% dearer against BingX than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 102 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	BingX 1000PEPE-USDC	0.000005007	0.0608	pay 0.0608% / 8h	5h 09m	—	$2.3M	—
Short	Injective PEPE/USDC PERP	0.000005011	0.0973	get 0.0122% / 1h	9m 28s	$4K	$102K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BingX. 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 BingXbpFee InjectivebpOrdersPrice spread, now +0.082%Rate

Funding earned: $76.58
Price spread: +0.082% → 0.000%: $8.19
Slippage, 4 orders: −$99.82
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$25.07
Costs to cover: 1.098%
Break-even: 9.3 days

Slippage from BingX: live order book, 4 min ago; Injective: live order book, 54 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 BingX live order book, 4 min ago	1.00 bp	10.8 bp −$11	20.6 bp −$206	91.5 bp −$9,150	218.4 bp −$109.2K
Sell Injective live order book, 54 min ago	10.84 bp	10.8 bp −$11	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	0.000005002	−0.104%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005002	−0.104%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005008	+0.022%	$63K	$139K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005000	−0.134%	$97.1M	$341.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005006	−0.018%	$164.4M	$75.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005005	−0.044%	$25.8M	$63.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005020	+0.252%	$681K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005022	+0.296%	$27K	$444K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005031	+0.487%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005016	+0.180%	$571K	$3.6M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0134%	8h	0.000005005	−0.042%	$45.8M	$173.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005005	−0.037%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0317%	8h	0.000005018	+0.226%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0347%	8h	0.000005002	−0.098%	$45.5M	$585.5M	50x	as long as short
BloFin PEPE-USDT	+0.0460%	8h	0.000005032	+0.501%	$4.3M	$25.1M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0525%	1h	0.000005019	+0.242%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0542%	1h	0.000005020	+0.262%	$99K	$755K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005022	+0.302%	$935K	$31.4M	50x	as long as short
BingX 1000PEPE-USDClong	+0.0608%	8h	0.000005007	long leg	—	$2.3M	—
GMX PEPE/USD [ETH-USDC]	L +0.0633% / S −0.1015%	1h	0.000005000	−0.138%	$49K	—	100x	as long as short
MEXC PEPE_USDT	+0.0638%	8h	0.000005010	+0.070%	$94.3M	$290.6M	300x	as long as short
Extended 1000PEPE-USD	+0.0640%	1h	0.000005004	−0.064%	$530K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0640%	1h	0.000004983	−0.477%	$141K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0644%	8h	0.000005005	−0.042%	$140.0M	$1.21B	75x	as long as short
Phemex u1000PEPEUSDT	+0.0728%	8h	0.000005015	+0.158%	$2.4M	$7.1M	50x	as long as short
Aster 1000PEPEUSDT	+0.0735%	8h	0.000005011	+0.087%	$1.8M	$9.2M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0747%	1h	0.000005018	+0.222%	$71K	$124K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0785%	8h	0.000005008	+0.025%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0794%	1h	0.000005003	−0.078%	$185K	$872K	10x	as long as short
01 Exchange kPEPEUSD	+0.0960%	1h	0.000005012	+0.102%	$605	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0964%	1h	0.000005012	+0.106%	$93K	$632K	15x	as long as short
Injective PEPE/USDC PERPshort	+0.0973%	1h	0.000005011	+0.082%	$4K	$102K	12x
Lighter 1000PEPE	+0.1168%	1h	0.000005008	+0.022%	$662K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1387%	1h	0.000005016	+0.185%	$4.3M	$15.3M	50x	as long as short
Hyperliquid kPEPE	+0.1575%	1h	0.000005010	+0.062%	$53.6M	$139.5M	10x	as long as short