Settings8H · net · $10k
Funding arb · Price arb /

PEPE

all PEPE markets
SwapBacktest
Alert: funding
Alert: spread
Funding you earn now, next payment 07:00 UTC−0.0232%/8h= −25.4% APRnext payment $0.29 per $10,000 · paid last 24h −0.085%
Price spread now: Pacifica against Deribit−0.019%7-day average +0.033% · you buy dearer than you sell
Net, funding: paid 7d − costs−$85as in the Funding arb table
Net, price: spread back to 7d avg − costs−$90as in the Price arb table
costs, in and out, $10k−$850.851% of the position
What this pair did over the last
the charts below follow
Funding, last 7 days0.000%$0 on $10k
Price spread, last 4 days (all we have)−0.117%−$12 · spread now −0.019%, 7d avg +0.033%
Together, before fees−0.117%+ Points / potential airdropPacifica: Active · farm board−$12 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Pacifica is 0.053% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.033%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.000% in total (about -0.0% a year). A funding rate is set anew for every payment; at this rate the next one is about $0.29 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongDeribit 1000PEPE_USDC-PERPETUAL0.0000051600.0332pay 0.0041% / 1h55m 32s$74K$127K25x
ShortPacifica kPEPE0.0000051590.0100get 0.0013% / 1h55m 32s$60K$180K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Pacifica 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

Funding earned
−$48.66
Price spread: −0.019% → +0.033%
−$5.26
Slippage, 4 orders
−$70.09
Fee Deribit: 3.5 bp × 2 orders
−$7
Fee Pacifica: 4 bp × 2 orders
−$8
Net
−$139.01
Costs to cover
0.851%
Break-even
never at this rate
Slippage from Deribit: live order book, 18 min ago; Pacifica: live order book, 52 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Deribit live order book, 18 min ago27.35 bp30.8 bp −$31doesn't fitdoesn't fitdoesn't fit
Sell Pacifica live order book, 52 min ago4.97 bp12.5 bp −$1321.8 bp −$218doesn't fitdoesn't fit

PEPE on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Injective PEPE/USDC PERP−0.0016%1h0.000005206+0.891%$10K$119K12xas long as short
dYdX PEPE-USD0.0000%1h0.000005152−0.153%$19K$9510xas long as short
gTrade (Gains Network) PEPE/USDL +0.0006% / S −0.0008%1h0.000005158−0.029%$4K150xas long as short
Pacifica kPEPEshort+0.0100%1h0.000005159−0.019%$60K$180K10x
Bybit 1000PEPEUSDT+0.0100%8h0.000005165+0.097%$101.2M$413.4M50xas long as short
Gate PEPE_USDT+0.0100%8h0.000005156−0.078%$163.3M$95.6M75xas long as short
KuCoin PEPEUSDTM+0.0100%8h0.000005158−0.041%$25.7M$71.8M75xas long as short
Variational Omni 1000PEPE+0.0100%8h0.000005162+0.031%$615K$5.3Mas long as short
edgeX 1000PEPEUSDC+0.0100%4h0.000005173+0.251%$28K$539K20xas long as short
SunX 1000PEPE-USDT+0.0100%8h0.000005172+0.240%$2K$2.6M20xas long as short
Show all 35 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX 1000PEPE-USD+0.0100%1h0.000005158−0.039%$2K$11K10xas long as short
HTX PEPE-USDT+0.0100%8h0.000005175+0.291%$590K$4.2M75xas long as short
Reya kPEPERUSDPERP+0.0189%1h0.000005165+0.092%$8K15xas long as short
Bitget PEPEUSDT+0.0310%8h0.000005155−0.095%$46.2M$213.7M75xas long as short
Deribit 1000PEPE_USDC-PERPETUALlong+0.0332%1h0.000005160long leg$74K$127K25x
Orderly PERP_1000PEPE_USDC+0.0379%8h0.000005159−0.025%$34K$26K20xas long as short
OKX PEPE-USDT-SWAP+0.0417%8h0.000005158−0.039%$48.4M$721.2M50xas long as short
Kraken Futures PF_PEPEUSD+0.0453%1h0.000005156−0.079%$4.7M$16.8M50xas long as short
Paradex kPEPE-USD-PERP+0.0515%8h0.000005158−0.038%$6K20xas long as short
BloFin PEPE-USDT+0.0545%8h0.000005186+0.504%$4.4M$29.6M75xas long as short
Phemex u1000PEPEUSDT+0.0576%8h0.000005155−0.097%$2.4M$8.0M50xas long as short
Backpack kPEPE_USDC_PERP+0.0607%1h0.000005157−0.058%$72K$848K15xas long as short
Lighter 1000PEPE+0.0616%1h0.000005161+0.019%$621K$9.0M10xas long as short
Coinbase International 1000PEPE-PERP-INTX+0.0624%1h0.000005169+0.174%$702K$38.3M50xas long as short
01 Exchange kPEPEUSD+0.0648%1h0.000005156−0.078%$622$3K10xas long as short
Nado kPEPE-PERP+0.0738%1h0.000005162+0.036%$165K$955K10xas long as short
BingX 1000PEPE-USDT+0.0751%8h0.000005154−0.110%$217.3Mas long as short
Aevo 1000PEPE-PERP+0.0784%1h0.000005166+0.116%$146K3xas long as short
Binance 1000PEPEUSDT+0.0785%8h0.000005160−0.010%$142.6M$1.44B75xas long as short
MEXC PEPE_USDT+0.0788%8h0.000005155−0.089%$98.3M$301.9M300xas long as short
Extended 1000PEPE-USD+0.0792%1h0.000005152−0.146%$547K$285K25xas long as short
Aster 1000PEPEUSDT+0.0812%8h0.000005160+0.008%$1.8M$11.6M50xas long as short
Hyperliquid kPEPE+0.0915%1h0.000005164+0.078%$55.1M$154.5M10xas long as short
GMX PEPE/USD [ETH-USDC]L +0.1133% / S −0.2351%1h0.000005000−3.101%$63K100xas long as short
ApeX Omni 1000PEPEUSDT+0.1244%1h0.000005189+0.562%$157K$818K25xas long as short