Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0663%/8hnext payment +$6.63 per $10,000 · paid last 24h −0.015%

Price spread now: Binance against Bitget+0.080%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

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

costs, in and out, $10k−$330.332% of the position

Long on Bitget Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.080%, 7d avg +0.017%

Together, before fees−0.012%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Binance is 0.064% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.017%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.028% in total (about 1.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$6.63 per $10,000. 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	Bitget PEPEUSDT	0.000004974	0.0139	pay 0.0139% / 8h	4h 06m	$47.0M	$136.3M	75x
Short	Binance 1000PEPEUSDT	0.000004978	0.0802	get 0.0802% / 8h	4h 06m	$131.9M	$954.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bitget. 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 BitgetbpFee BinancebpOrdersPrice spread, now +0.080%Rate

Funding earned: $139.14
Price spread: +0.080% → +0.017%: $6.36
Slippage, 4 orders: −$11.17
Fee Bitget: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $112.33
Costs to cover: 0.332%
Break-even: 1.3 days

Slippage from Bitget: live order book, 2 min ago; Binance: live order book, 11 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 Bitget live order book, 2 min ago	1.91 bp	9.4 bp −$9	11.5 bp −$115	27.0 bp −$2,704	doesn't fit
Sell Binance live order book, 11 min ago	0.10 bp	9.3 bp −$9	16.0 bp −$160	34.5 bp −$3,455	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	0.000004983	+0.182%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004979	+0.097%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004986	+0.243%	$59K	$105K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004971	−0.056%	$89.6M	$256.3M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004975	+0.022%	$43.7M	$484.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004973	−0.018%	$151.6M	$58.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004976	+0.050%	$25.6M	$46.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004976	+0.052%	$704K	$3.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004990	+0.320%	$28K	$330K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004991	+0.338%	$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-USDT	+0.0100%	8h	0.000004987	+0.265%	$573K	$3.7M	75x	as long as short
Bitget PEPEUSDTlong	+0.0139%	8h	0.000004974	long leg	$47.0M	$136.3M	75x
Reya kPEPERUSDPERP	+0.0188%	1h	0.000004983	+0.193%	$8K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004975	+0.022%	$4.1M	$21.3M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0273%	1h	0.000004983	+0.183%	$2K	$9K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0288%	8h	0.000004985	+0.217%	$31K	$10K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0291% / S −0.0261%	1h	0.000004000	−19.580%	$46K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0314%	1h	0.000004989	+0.304%	$103K	$758K	25x	as long as short
Hyperliquid kPEPE	+0.0467%	1h	0.000004977	+0.062%	$56.8M	$61.6M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0483%	8h	0.000004989	+0.296%	$6K	$26	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0496%	1h	0.000004987	+0.263%	$637K	$25.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0505%	8h	0.000004978	+0.074%	$2.4M	$6.1M	50x	as long as short
Nado kPEPE-PERP	+0.0620%	1h	0.000004984	+0.211%	$200K	$795K	10x	as long as short
01 Exchange kPEPEUSD	+0.0736%	1h	0.000004993	+0.384%	$572	$2K	10x	as long as short
Lighter 1000PEPE	+0.0744%	1h	0.000004985	+0.223%	$602K	$5.0M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0744%	1h	0.000004978	+0.090%	$98K	$573K	15x	as long as short
BingX 1000PEPE-USDC	+0.0752%	8h	0.000004976	+0.032%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000004988	+0.283%	$141K	—	3x	as long as short
MEXC PEPE_USDT	+0.0798%	8h	0.000004980	+0.125%	$114.3M	$270.1M	300x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000004977	+0.059%	$549K	$147K	25x	as long as short
Binance 1000PEPEUSDTshort	+0.0802%	8h	0.000004978	+0.080%	$131.9M	$954.3M	75x
Aster 1000PEPEUSDT	+0.0904%	8h	0.000004980	+0.113%	$1.5M	$6.4M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0955%	1h	0.000004984	+0.203%	$84K	$87K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.1521%	1h	0.000004981	+0.145%	$4.0M	$12.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.2268%	1h	0.000004956	−0.360%	$5K	$68K	12x	as long as short