Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h +0.028%

Price spread now: ApeX Omni against BloFin0.000%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now 0.000%, 7d avg +0.035%

Together, before fees−0.216%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and ApeX Omni is 0.035% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PEPE-USDT	0.000005161	0.0518	pay 0.0518% / 8h	56m 23s	$4.4M	$29.9M	75x
Short	ApeX Omni 1000PEPEUSDT	0.000005161	0.0452	get 0.0057% / 1h	56m 23s	$150K	$830K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. 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 BloFinbpFee ApeX OmnibpOrdersPrice spread, now 0.000%Rate

Funding earned: −$13.82
Price spread: 0.000% → +0.035%: −$3.49
Slippage, 4 orders: −$16.66
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$55.97
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; ApeX Omni: live order book, 48 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 BloFin live order book, 3 min ago	2.91 bp	8.9 bp −$9	10.4 bp −$104	24.3 bp −$2,435	72.2 bp −$36.1K
Sell ApeX Omni live order book, 48 min ago	2.51 bp	9.7 bp −$10	101.0 bp −$1,010	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	0.000005148	−0.260%	$19K	$649	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005130	−0.605%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005149	−0.233%	$60K	$182K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005134	−0.523%	$100.1M	$422.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005131	−0.581%	$163.2M	$97.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005174	+0.244%	$606K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005168	+0.140%	$28K	$543K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005143	−0.355%	$1K	$2.7M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000005135	−0.504%	$2K	$11K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005175	+0.262%	$601K	$4.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin PEPEUSDTM	+0.0112%	8h	0.000005137	−0.465%	$26.5M	$72.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005135	−0.502%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0283%	8h	0.000005134	−0.517%	$46.0M	$216.8M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0335%	1h	0.000005133	−0.543%	$73K	$127K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0396%	8h	0.000005134	−0.523%	$47.3M	$734.5M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0403%	8h	0.000005135	−0.508%	$34K	$26K	20x	as long as short
Injective PEPE/USDC PERP	+0.0404%	1h	0.000005162	+0.019%	$8K	$120K	12x	as long as short
ApeX Omni 1000PEPEUSDTshort	+0.0452%	1h	0.000005161	0.000%	$150K	$830K	25x
Backpack kPEPE_USDC_PERP	+0.0466%	1h	0.000005158	−0.068%	$76K	$869K	15x	as long as short
BloFin PEPE-USDTlong	+0.0518%	8h	0.000005161	long leg	$4.4M	$29.9M	75x
Paradex kPEPE-USD-PERP	+0.0521%	8h	0.000005141	−0.396%	$6K	—	20x	as long as short
Phemex u1000PEPEUSDT	+0.0528%	8h	0.000005162	+0.012%	$2.4M	$8.1M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0544%	1h	0.000005151	−0.194%	$693K	$39.0M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0715%	1h	0.000005132	−0.564%	$4.7M	$16.6M	50x	as long as short
BingX 1000PEPE-USDC	+0.0723%	8h	0.000005140	−0.399%	—	$2.3M	—	as long as short
01 Exchange kPEPEUSD	+0.0744%	1h	0.000005139	−0.426%	$620	$2K	10x	as long as short
Aster 1000PEPEUSDT	+0.0746%	8h	0.000005140	−0.401%	$1.8M	$11.8M	50x	as long as short
Extended 1000PEPE-USD	+0.0752%	1h	0.000005134	−0.522%	$539K	$286K	25x	as long as short
Binance 1000PEPEUSDT	+0.0754%	8h	0.000005136	−0.486%	$140.9M	$1.47B	75x	as long as short
MEXC PEPE_USDT	+0.0756%	8h	0.000005135	−0.508%	$100.5M	$302.5M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005142	−0.368%	$145K	—	3x	as long as short
Nado kPEPE-PERP	+0.0822%	1h	0.000005136	−0.482%	$164K	$954K	10x	as long as short
Lighter 1000PEPE	+0.0872%	1h	0.000005160	−0.019%	$616K	$9.0M	10x	as long as short
Hyperliquid kPEPE	+0.0881%	1h	0.000005144	−0.329%	$53.5M	$157.0M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1133% / S −0.1782%	1h	0.000005000	−3.120%	$69K	—	100x	as long as short