Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0117%/8h= +12.8% APRpaid last 24h −0.005%

Price spread now: MEXC against Deribit+0.402%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs+$17as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 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 +$3 a day on $10k at the current rate, and MEXC is 0.402% dearer against Deribit than usual: you sell high and buy low: +$40 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000PEPE_USDC-PERPETUAL	0.000004975	0.0353	pay 0.0044% / 1h	0m 38s	$60K	$114K	25x
Short	MEXC PEPE_USDT	0.000004995	0.0470	get 0.0470% / 8h	7h 00m	$95.5M	$293.8M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now +0.402%Rate

Funding earned: $24.49
Price spread: +0.402% → 0.000%: $40.2
Slippage, 4 orders: −$16.1
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: $41.59
Costs to cover: 0.231%
Break-even: from the start

Slippage from Deribit: live order book, 38 min ago; MEXC: live order book, 3 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 Deribit live order book, 38 min ago	6.11 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.80 bp	1.9 bp −$2	12.1 bp −$121	47.7 bp −$4,772	78.0 bp −$39.0K

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	−0.0118%	1h	0.000004971	−0.071%	$3.9M	$14.3M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004989	+0.283%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004974	−0.012%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004990	+0.302%	$59K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004975	−0.004%	$95.1M	$313.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004986	+0.221%	$160.4M	$69.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004981	+0.121%	$25.0M	$58.2M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004977	+0.048%	$44.1M	$156.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004975	−0.007%	$544K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005028	+1.058%	$46K	$387K	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	0.000004985	+0.201%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004979	+0.080%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004975	−0.004%	$557K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004974	−0.012%	$2.4M	$6.8M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0154%	1h	0.000005019	+0.884%	$110K	$751K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0188%	8h	0.000004974	−0.020%	$43.9M	$544.0M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004976	+0.021%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0270%	8h	0.000004980	+0.101%	$32K	$22K	20x	as long as short
BloFin PEPE-USDT	+0.0308%	8h	0.000004979	+0.080%	$4.2M	$24.3M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0312%	8h	0.000004989	+0.276%	$6K	$16	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUALlong	+0.0353%	1h	0.000004975	long leg	$60K	$114K	25x
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004979	+0.080%	$640K	$27.9M	50x	as long as short
BingX 1000PEPE-USDT	+0.0452%	8h	0.000004987	+0.239%	—	$257.8M	—	as long as short
Binance 1000PEPEUSDT	+0.0466%	8h	0.000004980	+0.107%	$137.1M	$1.14B	75x	as long as short
MEXC PEPE_USDTshort	+0.0470%	8h	0.000004995	+0.402%	$95.5M	$293.8M	300x
Extended 1000PEPE-USD	+0.0472%	1h	0.000004985	+0.199%	$546K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	0.000004996	+0.422%	$141K	—	3x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0500% / S −0.0407%	1h	0.000004000	−19.598%	$62K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0525%	8h	0.000004989	+0.279%	$1.7M	$7.8M	50x	as long as short
Nado kPEPE-PERP	+0.0618%	1h	0.000004974	−0.026%	$183K	$868K	10x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005004	+0.583%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.0656%	1h	0.000004995	+0.402%	$644K	$6.9M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0658%	1h	0.000004974	−0.010%	$98K	$607K	15x	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000004989	+0.281%	$1K	$2K	10x	as long as short
Hyperliquid kPEPE	+0.2313%	1h	0.000004995	+0.402%	$55.4M	$133.5M	10x	as long as short