Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0251%/8h= +27.5% APRpaid last 24h +0.057%

Price spread now: Aster against Coinbase International−0.148%7-day average +0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$470.466% of the position

Long on Coinbase International Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$19 on $10k

Price spread, last 3 days (all we have)+0.191%+$19 · spread now −0.148%, 7d avg +0.040%

Together, before fees+0.377%+ Points / potential airdropAster: Stage 5 · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.188% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.148% now, against its 7-day average of +0.040%). If the spread goes back, that is −$19 on $10k: about 2.5 days of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.185% in total) that is about 7.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International 1000PEPE-PERP-INTX	0.000005120	0.0424	pay 0.0053% / 1h	59m 31s	$927K	$30.8M	50x
Short	Aster 1000PEPEUSDT	0.000005112	0.0675	get 0.0675% / 8h	5h 59m	$1.7M	$8.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Coinbase International. 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 Coinbase InternationalbpFee AsterbpOrdersPrice spread, now −0.148%Rate

Funding earned: $52.66
Price spread: −0.148% → +0.040%: −$18.83
Slippage, 4 orders: −$28.57
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$12.75
Costs to cover: 0.466%
Break-even: 8.7 days

Slippage from Coinbase International: live order book, 5 min ago; Aster: 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 Coinbase International live order book, 5 min ago	5.88 bp	12.7 bp −$13	18.1 bp −$181	114.0 bp −$11.4K	doesn't fit
Sell Aster live order book, 4 min ago	3.74 bp	11.3 bp −$11	17.8 bp −$178	doesn't fit	doesn't fit

PEPE on 34 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	0.000005111	−0.173%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005104	−0.305%	$18K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005119	−0.020%	$63K	$128K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005102	−0.352%	$99.5M	$327.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005115	−0.098%	$163.9M	$72.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005106	−0.271%	$25.5M	$61.5M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005108	−0.238%	$47.6M	$167.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005100	−0.398%	$681K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005107	−0.258%	$27K	$424K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005122	+0.037%	$2K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005124	+0.078%	$583K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005108	−0.229%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0271%	8h	0.000005109	−0.215%	$46.2M	$581.9M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0294%	8h	0.000005121	+0.012%	$34K	$24K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTXlong	+0.0424%	1h	0.000005120	long leg	$927K	$30.8M	50x
Phemex u1000PEPEUSDT	+0.0457%	8h	0.000005107	−0.248%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDT	+0.0531%	8h	0.000005109	−0.207%	—	$259.7M	—	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0532%	1h	0.000005117	−0.059%	$62K	$114K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0536% / S −0.0924%	1h	0.000005000	−2.344%	$48K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0560%	1h	0.000005110	−0.195%	$562K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000005120	0.000%	$145K	—	3x	as long as short
MEXC PEPE_USDT	+0.0562%	8h	0.000005114	−0.117%	$96.8M	$285.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0567%	8h	0.000005110	−0.197%	$144.7M	$1.18B	75x	as long as short
SoDEX 1000PEPE-USD	+0.0603%	1h	0.000005118	−0.039%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0657%	1h	0.000005104	−0.313%	$106K	$749K	25x	as long as short
Aster 1000PEPEUSDTshort	+0.0675%	8h	0.000005112	−0.148%	$1.7M	$8.3M	50x
Paradex kPEPE-USD-PERP	+0.0693%	8h	0.000005121	+0.019%	$6K	—	20x	as long as short
Kraken Futures PF_PEPEUSD	+0.0814%	1h	0.000005116	−0.073%	$4.1M	$14.6M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005109	−0.215%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0953%	1h	0.000005112	−0.150%	$99K	$610K	15x	as long as short
01 Exchange kPEPEUSD	+0.1152%	1h	0.000005115	−0.098%	$617	$3K	10x	as long as short
Nado kPEPE-PERP	+0.1331%	1h	0.000005111	−0.171%	$194K	$882K	10x	as long as short
Hyperliquid kPEPE	+0.1536%	1h	0.000005116	−0.078%	$56.5M	$136.5M	10x	as long as short
Lighter 1000PEPE	+0.1840%	1h	0.000005130	+0.195%	$1.1M	$7.4M	10x	as long as short