Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against HTX+0.326%53s7-day average −0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as 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−$400.400% of the position

Long on HTX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 4 days (all we have)−0.720%−$72 · spread now +0.326%, 7d avg −0.059%

Together, before fees−0.846%−$85 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: Bybit is 0.385% dearer against HTX than usual: you sell high and buy low, +$38 on $10k if it goes back to its 7-day average of −0.059%. The two prices were read 53 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	HTX PEPE-USDT	0.000005007	0.0100	pay 0.0100% / 8h	5h 11m	$569K	$3.6M	75x
Short	Bybit 1000PEPEUSDT	0.000005023	0.0100	get 0.0100% / 8h	5h 11m	$97.5M	$340.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against HTX. 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 HTXbpFee BybitbpOrdersPrice spread, now +0.326%Rate

Funding earned: $0
Price spread: +0.326% → −0.059%: $38.49
Slippage, 4 orders: −$17.05
Fee HTX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$1.56
Costs to cover: 0.400%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Bybit: 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 HTX live order book, 3 min ago	4.18 bp	10.6 bp −$11	19.3 bp −$193	72.0 bp −$7,198	doesn't fit
Sell Bybit live order book, 3 min ago	1.00 bp	8.5 bp −$9	13.6 bp −$136	36.9 bp −$3,686	229.9 bp −$115.0K

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	0.000005009	+0.056%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005019	+0.256%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005021	+0.286%	$64K	$139K	10x	as long as short
Bybit 1000PEPEUSDTshort	+0.0100%	8h	0.000005023	+0.326%	$97.5M	$340.8M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005023	+0.326%	$164.9M	$75.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005021	+0.284%	$25.8M	$63.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005042	+0.695%	$687K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005022	+0.304%	$27K	$443K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005015	+0.158%	$1K	$2.4M	20x	as long as short
HTX PEPE-USDTlong	+0.0100%	8h	0.000005007	long leg	$569K	$3.6M	75x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0128%	8h	0.000005023	+0.334%	$46.0M	$173.2M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005026	+0.392%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0317%	8h	0.000005030	+0.473%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0340%	8h	0.000005033	+0.525%	$45.6M	$589.0M	50x	as long as short
BloFin PEPE-USDT	+0.0462%	8h	0.000005002	−0.094%	$4.3M	$25.0M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0523%	1h	0.000005007	+0.006%	$2K	$12K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0542%	1h	0.000005020	+0.266%	$99K	$755K	25x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0550%	1h	0.000005007	+0.006%	$71K	$124K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005014	+0.146%	$940K	$31.4M	50x	as long as short
BingX 1000PEPE-USDC	+0.0607%	8h	0.000005014	+0.150%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0631% / S −0.1011%	1h	0.000005000	−0.134%	$49K	—	100x	as long as short
MEXC PEPE_USDT	+0.0636%	8h	0.000005026	+0.383%	$94.5M	$290.5M	300x	as long as short
Binance 1000PEPEUSDT	+0.0636%	8h	0.000005031	+0.477%	$140.7M	$1.21B	75x	as long as short
Extended 1000PEPE-USD	+0.0640%	1h	0.000005023	+0.324%	$530K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0640%	1h	0.000005003	−0.074%	$141K	—	3x	as long as short
Phemex u1000PEPEUSDT	+0.0727%	8h	0.000005006	−0.012%	$2.4M	$7.1M	50x	as long as short
Aster 1000PEPEUSDT	+0.0728%	8h	0.000005018	+0.220%	$1.8M	$9.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0780%	8h	0.000005019	+0.246%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0791%	1h	0.000005025	+0.360%	$186K	$872K	10x	as long as short
01 Exchange kPEPEUSD	+0.0952%	1h	0.000005034	+0.545%	$607	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0958%	1h	0.000005009	+0.046%	$92K	$632K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005011	+0.086%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.1176%	1h	0.000005025	+0.366%	$665K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1390%	1h	0.000005005	−0.031%	$4.3M	$15.2M	50x	as long as short
Hyperliquid kPEPE	+0.1590%	1h	0.000005029	+0.445%	$53.8M	$139.6M	10x	as long as short