Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.044%

Price spread now: Binance against Extended+0.012%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Extended Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now +0.012%, 7d avg +0.057%

Together, before fees+0.029%+ Points / potential airdropExtended: Active · farm board+$3 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: Binance is 0.045% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended 1000PEPE-USD	0.000005243	0.0808	pay 0.0101% / 1h	23m 12s	$553K	$231K	25x
Short	Binance 1000PEPEUSDT	0.000005244	0.0804	get 0.0804% / 8h	3h 23m	$152.7M	$1.33B	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.012%Rate

Funding earned: −$0.74
Price spread: +0.012% → +0.057%: −$4.5
Slippage, 4 orders: −$16.66
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$36.89
Costs to cover: 0.317%
Break-even: never at this rate

Slippage from Extended: live order book, 29 min ago; Binance: live order book, 6 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, 29 min ago	2.82 bp	7.2 bp −$7	40.6 bp −$406	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.19 bp	8.5 bp −$8	15.2 bp −$152	35.9 bp −$3,591	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	0.000005232	−0.212%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005232	−0.211%	$14K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005327	+1.599%	$3K	$111K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005238	−0.098%	$66K	$162K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005237	−0.125%	$107.0M	$380.9M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005236	−0.136%	$172.9M	$88.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005237	−0.117%	$25.9M	$68.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005215	−0.546%	$677K	$5.2M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005260	+0.319%	$29K	$533K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005246	+0.050%	$2K	$2.5M	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	0.000005241	−0.051%	$588K	$3.9M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005237	−0.113%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0303%	8h	0.000005241	−0.032%	$50.9M	$190.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0396%	8h	0.000005244	+0.020%	$35K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0433%	8h	0.000005244	+0.016%	$50.5M	$677.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0455%	8h	0.000005239	−0.076%	$6K	—	20x	as long as short
SoDEX 1000PEPE-USD	+0.0503%	1h	0.000005243	−0.003%	$2K	$10K	10x	as long as short
BloFin PEPE-USDT	+0.0562%	8h	0.000005240	−0.060%	$4.9M	$28.3M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0644%	8h	0.000005241	−0.032%	$2.5M	$7.6M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005245	+0.035%	$723K	$36.4M	50x	as long as short
BingX 1000PEPE-USDT	+0.0761%	8h	0.000005242	−0.030%	—	$235.6M	—	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005235	−0.156%	$148K	—	3x	as long as short
MEXC PEPE_USDT	+0.0801%	8h	0.000005238	−0.096%	$101.0M	$295.8M	300x	as long as short
Binance 1000PEPEUSDTshort	+0.0804%	8h	0.000005244	+0.012%	$152.7M	$1.33B	75x
Extended 1000PEPE-USDlong	+0.0808%	1h	0.000005243	long leg	$553K	$231K	25x
ApeX Omni 1000PEPEUSDT	+0.0843%	1h	0.000005254	+0.207%	$161K	$808K	25x	as long as short
Nado kPEPE-PERP	+0.0875%	1h	0.000005236	−0.138%	$188K	$916K	10x	as long as short
Aster 1000PEPEUSDT	+0.0909%	8h	0.000005238	−0.099%	$1.8M	$10.3M	50x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0962% / S −0.1923%	1h	0.000005000	−4.638%	$64K	—	100x	as long as short
01 Exchange kPEPEUSD	+0.0992%	1h	0.000005243	−0.003%	$632	$3K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.1087%	1h	0.000005241	−0.041%	$75K	$126K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.1161%	1h	0.000005233	−0.186%	$68K	$724K	15x	as long as short
Lighter 1000PEPE	+0.1232%	1h	0.000005246	+0.054%	$634K	$8.8M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1558%	1h	0.000005239	−0.080%	$4.8M	$16.4M	50x	as long as short
Hyperliquid kPEPE	+0.1579%	1h	0.000005243	−0.003%	$57.0M	$145.8M	10x	as long as short