Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h 0.000%

Price spread now: Bitget against edgeX−0.657%64s7-day average +0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as 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−$300.296% of the position

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 3 days (all we have)+0.491%+$49 · spread now −0.657%, 7d avg +0.040%

Together, before fees+0.404%+ Points / potential airdropedgeX: Active · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.697% cheaper against edgeX than usual: you would sell low and buy high (spread −0.657% now, against its 7-day average of +0.040%). If the spread goes back, that is −$70 on $10k: about 28 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.087%, so the current rate has only just turned in your favour. The two prices were read 64 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	edgeX 1000PEPEUSDC	0.000004830	0.0100	pay 0.0050% / 4h	2h 06m	$27K	$340K	20x
Short	Bitget PEPEUSDT	0.000004798	0.0183	get 0.0183% / 8h	2h 06m	$42.3M	$150.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee BitgetbpOrdersPrice spread, now −0.657%Rate

Funding earned: $17.43
Price spread: −0.657% → +0.040%: −$69.7
Slippage, 4 orders: −$8.58
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$81.86
Costs to cover: 0.296%
Break-even: 39.9 days

Slippage from edgeX: live order book, 17 min ago; Bitget: 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 edgeX live order book, 17 min ago	0.93 bp	5.7 bp −$6	7.7 bp −$77	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.77 bp	8.7 bp −$9	9.5 bp −$95	21.1 bp −$2,106	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	0.000004797	−0.684%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004793	−0.767%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004796	−0.698%	$58.4M	$72.8M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004800	−0.616%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004799	−0.626%	$87.3M	$275.5M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004794	−0.740%	$149.9M	$62.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004802	−0.580%	$24.9M	$53.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004820	−0.194%	$577K	$3.8M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000004830	long leg	$27K	$340K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004811	−0.379%	$1K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004804	−0.527%	$553K	$3.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0182%	8h	0.000004805	−0.512%	$41.4M	$485.2M	50x	as long as short
Bitget PEPEUSDTshort	+0.0183%	8h	0.000004798	−0.657%	$42.3M	$150.9M	75x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004799	−0.637%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0299%	8h	0.000004803	−0.553%	$3.9M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−17.180%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0421%	8h	0.000004808	−0.452%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004808	−0.450%	$578K	$25.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0496%	8h	0.000004809	−0.427%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0530%	8h	0.000004799	−0.633%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004824	−0.119%	$4K	$110K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0583%	1h	0.000004807	−0.471%	$81K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0713%	1h	0.000004806	−0.498%	$92K	$624K	15x	as long as short
Lighter 1000PEPE	+0.0744%	1h	0.000004806	−0.491%	$599K	$5.3M	10x	as long as short
Nado kPEPE-PERP	+0.0748%	1h	0.000004801	−0.601%	$188K	$848K	10x	as long as short
SoDEX 1000PEPE-USD	+0.0756%	1h	0.000004809	−0.429%	$2K	$9K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0759%	1h	0.000004830	+0.006%	$103K	$762K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0762%	1h	0.000004806	−0.483%	$3.9M	$13.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0827%	8h	0.000004806	−0.481%	—	$254.7M	—	as long as short
Extended 1000PEPE-USD	+0.0872%	1h	0.000004799	−0.635%	$529K	$147K	25x	as long as short
MEXC PEPE_USDT	+0.0872%	8h	0.000004801	−0.587%	$91.4M	$292.4M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0872%	1h	0.000004813	−0.346%	$136K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0873%	8h	0.000004802	−0.568%	$128.0M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0900%	8h	0.000004801	−0.599%	$1.5M	$6.9M	50x	as long as short
01 Exchange kPEPEUSD	+0.1184%	1h	0.000004805	−0.512%	$550	$2K	10x	as long as short