Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0107%/8h= +11.7% APRpaid last 24h +0.048%

Price spread now: Aster against Extended−0.078%7-day average +0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Extended Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.122%+$12 on $10k

Price spread, last 4 days (all we have)+0.262%+$26 · spread now −0.078%, 7d avg +0.093%

Together, before fees+0.384%+ Points / potential airdropExtended: Active · Aster: Stage 5 · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.171% cheaper against Extended than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of +0.093%). If the spread goes back, that is −$17 on $10k: about 5.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended 1000PEPE-USD	0.000005111	0.0568	pay 0.0071% / 1h	59m 12s	$562K	$199K	25x
Short	Aster 1000PEPEUSDT	0.000005107	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 Extended. 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 ExtendedbpFee AsterbpOrdersPrice spread, now −0.078%Rate

Funding earned: $22.42
Price spread: −0.078% → +0.093%: −$17.09
Slippage, 4 orders: −$24.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$32.39
Costs to cover: 0.377%
Break-even: 17.1 days

Slippage from Extended: live order book, 4 min ago; Aster: 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 Extended live order book, 4 min ago	2.95 bp	7.4 bp −$7	42.1 bp −$421	doesn't fit	doesn't fit
Sell Aster live order book, 5 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	−0.007%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005104	−0.139%	$18K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005119	+0.147%	$63K	$128K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005107	−0.096%	$99.6M	$327.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005108	−0.068%	$163.6M	$72.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005110	−0.031%	$25.6M	$61.5M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005112	+0.014%	$47.6M	$167.7M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005100	−0.233%	$681K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005107	−0.092%	$27K	$424K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005119	+0.141%	$1K	$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	0.000005109	−0.055%	$582K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005108	−0.063%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0274%	8h	0.000005112	+0.010%	$46.2M	$582.4M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0295%	8h	0.000005111	−0.004%	$34K	$24K	20x	as long as short
SoDEX 1000PEPE-USD	+0.0375%	1h	0.000005114	+0.049%	$2K	$12K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0489%	8h	0.000005109	−0.051%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDC	+0.0530%	8h	0.000005109	−0.041%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0537% / S −0.0928%	1h	0.000005000	−2.181%	$48K	—	100x	as long as short
Aevo 1000PEPE-PERP	+0.0560%	1h	0.000005116	+0.088%	$145K	—	3x	as long as short
MEXC PEPE_USDT	+0.0562%	8h	0.000005114	+0.055%	$96.8M	$285.2M	300x	as long as short
Binance 1000PEPEUSDT	+0.0567%	8h	0.000005113	+0.029%	$144.8M	$1.18B	75x	as long as short
Extended 1000PEPE-USDlong	+0.0568%	1h	0.000005111	long leg	$562K	$199K	25x
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005115	+0.069%	$931K	$30.8M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0657%	1h	0.000005104	−0.147%	$106K	$749K	25x	as long as short
Aster 1000PEPEUSDTshort	+0.0675%	8h	0.000005107	−0.078%	$1.7M	$8.3M	50x
Paradex kPEPE-USD-PERP	+0.0693%	8h	0.000005121	+0.186%	$6K	—	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0729%	1h	0.000005112	+0.010%	$62K	$114K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0902%	1h	0.000005112	0.000%	$99K	$610K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	−0.127%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.1152%	1h	0.000005115	+0.069%	$617	$3K	10x	as long as short
Nado kPEPE-PERP	+0.1331%	1h	0.000005111	−0.005%	$194K	$882K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1361%	1h	0.000005111	−0.008%	$4.1M	$14.6M	50x	as long as short
Lighter 1000PEPE	+0.1544%	1h	0.000005121	+0.186%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.1806%	1h	0.000005120	+0.166%	$56.6M	$136.5M	10x	as long as short