Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Phemex against edgeX+0.597%7-day average +0.068% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$530.532% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 3 days (all we have)−0.535%−$53 · spread now +0.597%, 7d avg +0.068%

Together, before fees−0.631%+ Points / potential airdropedgeX: Active · farm board−$63 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.529% dearer against edgeX than usual: you sell high and buy low, +$53 on $10k if it goes back to its 7-day average of +0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX 1000PEPEUSDC	0.000004812	0.0100	pay 0.0050% / 4h	3h 48m	$26K	$351K	20x
Short	Phemex u1000PEPEUSDT	0.000004841	0.0100	get 0.0100% / 8h	7h 48m	$2.3M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +0.597%Rate

Funding earned: $0
Price spread: +0.597% → +0.068%: $52.92
Slippage, 4 orders: −$32.18
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$0.26
Costs to cover: 0.532%
Break-even: never at this rate

Slippage from edgeX: live order book, 24 min ago; Phemex: live order book, 5 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, 24 min ago	0.85 bp	5.5 bp −$5	9.0 bp −$90	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	11.84 bp	21.8 bp −$22	46.6 bp −$466	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	−0.0121%	1h	0.000004848	+0.752%	$3.9M	$14.0M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004822	+0.205%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004840	+0.576%	$15K	—	150x	as long as short
Lighter 1000PEPE	+0.0096%	1h	0.000004849	+0.763%	$590K	$6.6M	10x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004851	+0.805%	$65.8M	$105.9M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004827	+0.306%	$57K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004846	+0.701%	$89.0M	$298.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004845	+0.680%	$154.3M	$64.9M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004850	+0.784%	$24.3M	$55.3M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004851	+0.805%	$42.8M	$151.8M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni 1000PEPE	+0.0100%	8h	0.000004819	+0.135%	$555K	$4.2M	—	as long as short
edgeX 1000PEPEUSDClong	+0.0100%	4h	0.000004812	long leg	$26K	$351K	20x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004844	+0.666%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004837	+0.503%	$549K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDTshort	+0.0100%	8h	0.000004841	+0.597%	$2.3M	$6.5M	50x
SoDEX 1000PEPE-USD	+0.0109%	1h	0.000004848	+0.742%	$2K	$12K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0173%	8h	0.000004827	+0.308%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004836	+0.495%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0191%	8h	0.000004850	+0.784%	$42.9M	$513.2M	50x	as long as short
BloFin PEPE-USDT	+0.0310%	8h	0.000004847	+0.722%	$4.0M	$23.0M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0320%	8h	0.000004848	+0.751%	$30K	$13K	20x	as long as short
01 Exchange kPEPEUSD	+0.0352%	1h	0.000004831	+0.389%	$1K	$2K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004837	+0.514%	$557K	$26.1M	50x	as long as short
Nado kPEPE-PERP	+0.0400%	1h	0.000004831	+0.392%	$182K	$848K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0433% / S −0.0635%	1h	0.000004000	−16.879%	$46K	—	100x	as long as short
BingX 1000PEPE-USDT	+0.0512%	8h	0.000004848	+0.736%	—	$257.6M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0528%	1h	0.000004822	+0.202%	$100K	$754K	25x	as long as short
Binance 1000PEPEUSDT	+0.0532%	8h	0.000004852	+0.819%	$137.7M	$1.08B	75x	as long as short
MEXC PEPE_USDT	+0.0535%	8h	0.000004851	+0.809%	$93.0M	$280.2M	300x	as long as short
Extended 1000PEPE-USD	+0.0536%	1h	0.000004848	+0.750%	$532K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0536%	1h	0.000004840	+0.576%	$137K	—	3x	as long as short
Aster 1000PEPEUSDT	+0.0537%	8h	0.000004851	+0.796%	$1.5M	$7.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004830	+0.368%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0641%	1h	0.000004853	+0.850%	$93K	$602K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1196%	1h	0.000004849	+0.763%	$78K	$98K	25x	as long as short