Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0135%/8h= +14.7% APRpaid last 24h +0.034%

Price spread now: ApeX Omni against Bybit+1.382%69s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as 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−$440.443% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 3 days (all we have)−1.301%−$130 · spread now +1.382%, 7d avg +0.023%

Together, before fees−1.178%−$118 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and ApeX Omni is 1.359% dearer against Bybit than usual: you sell high and buy low: +$136 more if the spread goes back to its 7-day average of +0.023%. The two prices were read 69 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	Bybit 1000PEPEUSDT	0.000004994	0.0100	pay 0.0100% / 8h	7h 02m	$95.2M	$312.3M	50x
Short	ApeX Omni 1000PEPEUSDT	0.000005063	0.0235	get 0.0029% / 1h	2m 22s	$111K	$752K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now +1.382%Rate

Funding earned: $28.26
Price spread: +1.382% → +0.023%: $135.9
Slippage, 4 orders: −$23.26
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $119.89
Costs to cover: 0.443%
Break-even: from the start

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: live order book, 6 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 Bybit live order book, 2 min ago	0.99 bp	8.3 bp −$8	15.8 bp −$158	45.3 bp −$4,526	doesn't fit
Sell ApeX Omni live order book, 6 min ago	5.63 bp	13.1 bp −$13	79.9 bp −$799	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
Kraken Futures PF_PEPEUSD	−0.0117%	1h	0.000004984	−0.198%	$3.9M	$14.3M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005002	+0.153%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0009%	1h	0.000004996	+0.038%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005002	+0.160%	$59K	$120K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000004994	long leg	$95.2M	$312.3M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000004995	+0.020%	$160.2M	$69.5M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004995	+0.026%	$25.2M	$58.0M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004991	−0.054%	$44.3M	$156.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005053	+1.173%	$591K	$4.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005083	+1.787%	$46K	$386K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004990	−0.078%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004987	−0.140%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004998	+0.078%	$559K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004991	−0.052%	$2.4M	$6.8M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0188%	8h	0.000004996	+0.040%	$44.3M	$544.7M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004998	+0.078%	$8K	—	15x	as long as short
ApeX Omni 1000PEPEUSDTshort	+0.0235%	1h	0.000005063	+1.382%	$111K	$752K	25x
Orderly PERP_1000PEPE_USDC	+0.0269%	8h	0.000005001	+0.132%	$32K	$22K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0307%	8h	0.000004990	−0.084%	$6K	$16	20x	as long as short
BloFin PEPE-USDT	+0.0313%	8h	0.000005013	+0.380%	$4.1M	$24.4M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0351%	1h	0.000004990	−0.080%	$61K	$114K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004991	−0.060%	$626K	$27.9M	50x	as long as short
BingX 1000PEPE-USDT	+0.0452%	8h	0.000004997	+0.068%	—	$257.7M	—	as long as short
Extended 1000PEPE-USD	+0.0472%	1h	0.000004991	−0.056%	$549K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	0.000004998	+0.080%	$141K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0473%	8h	0.000005000	+0.111%	$138.2M	$1.13B	75x	as long as short
MEXC PEPE_USDT	+0.0475%	8h	0.000004997	+0.058%	$96.4M	$293.6M	300x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0500% / S −0.0406%	1h	0.000004000	−19.904%	$62K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0530%	8h	0.000004986	−0.153%	$1.7M	$7.8M	50x	as long as short
Nado kPEPE-PERP	+0.0598%	1h	0.000004994	−0.003%	$184K	$867K	10x	as long as short
Lighter 1000PEPE	+0.0624%	1h	0.000005015	+0.421%	$649K	$6.9M	10x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005069	+1.502%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0663%	1h	0.000005020	+0.531%	$95K	$601K	15x	as long as short
01 Exchange kPEPEUSD	+0.0672%	1h	0.000004996	+0.040%	$1K	$2K	10x	as long as short
Hyperliquid kPEPE	+0.2302%	1h	0.000005014	+0.400%	$55.7M	$133.3M	10x	as long as short