Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0142%/8h= −15.6% APRpaid last 24h −0.053%

Price spread now: BingX against Injective−0.209%7-day average −0.592% · you buy dearer than you sell

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$1111.106% of the position

Long on Injective Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.291%−$29 on $10k

Price spread, last 3 days (all we have)+0.099%+$10 · spread now −0.209%, 7d avg −0.592%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.383% dearer against Injective than usual: you sell high and buy low (spread −0.209% now, against its 7-day average of −0.592%): +$38 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 9.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PEPE/USDC PERP	0.000004986	0.0636	pay 0.0079% / 1h	30m 44s	$4K	$102K	12x
Short	BingX 1000PEPE-USDC	0.000004976	0.0493	get 0.0493% / 8h	7h 30m	—	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Injective. 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 InjectivebpFee BingXbpOrdersPrice spread, now −0.209%Rate

Funding earned: −$29.84
Price spread: −0.209% → −0.592%: $38.31
Slippage, 4 orders: −$100.55
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BingX: 5 bp × 2 orders: −$10
Net: −$102.11
Costs to cover: 1.106%
Break-even: never at this rate

Slippage from Injective: live order book, 43 min ago; BingX: 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 Injective live order book, 43 min ago	18.02 bp	66.5 bp −$67	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	1.01 bp	12.4 bp −$12	23.5 bp −$235	100.4 bp −$10.0K	226.4 bp −$113.2K

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	−0.0118%	1h	0.000004961	−0.501%	$3.9M	$14.0M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004968	−0.367%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004961	−0.501%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004969	−0.341%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004966	−0.399%	$91.1M	$302.6M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004963	−0.461%	$157.6M	$66.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004968	−0.365%	$25.2M	$55.9M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004976	−0.195%	$43.4M	$152.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004960	−0.527%	$585K	$4.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004925	−1.228%	$26K	$353K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004967	−0.379%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004962	−0.481%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004964	−0.439%	$561K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004960	−0.525%	$2.4M	$6.6M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0182%	8h	0.000004979	−0.140%	$43.6M	$529.2M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004963	−0.468%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0205%	8h	0.000004974	−0.240%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0291%	8h	0.000004962	−0.471%	$31K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0303%	8h	0.000004961	−0.501%	$4.0M	$23.5M	75x	as long as short
Lighter 1000PEPE	+0.0368%	1h	0.000004975	−0.221%	$583K	$6.7M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004965	−0.421%	$594K	$26.9M	50x	as long as short
Nado kPEPE-PERP	+0.0402%	1h	0.000004962	−0.480%	$194K	$851K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0440%	1h	0.000004944	−0.842%	$102K	$754K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0470% / S −0.0704%	1h	0.000004000	−19.775%	$47K	—	100x	as long as short
01 Exchange kPEPEUSD	+0.0480%	1h	0.000004986	0.000%	$1K	$2K	10x	as long as short
BingX 1000PEPE-USDCshort	+0.0493%	8h	0.000004976	−0.209%	—	$2.3M	—
MEXC PEPE_USDT	+0.0501%	8h	0.000004964	−0.441%	$96.7M	$283.8M	300x	as long as short
Binance 1000PEPEUSDT	+0.0501%	8h	0.000004970	−0.317%	$139.7M	$1.09B	75x	as long as short
Extended 1000PEPE-USD	+0.0504%	1h	0.000004963	−0.467%	$546K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0504%	1h	0.000004976	−0.201%	$141K	—	3x	as long as short
Hyperliquid kPEPE	+0.0524%	1h	0.000004977	−0.181%	$59.8M	$118.1M	10x	as long as short
Aster 1000PEPEUSDT	+0.0533%	8h	0.000004969	−0.346%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0573%	1h	0.000004963	−0.453%	$94K	$601K	15x	as long as short
Injective PEPE/USDC PERPlong	+0.0636%	1h	0.000004986	long leg	$4K	$102K	12x
Deribit 1000PEPE_USDC-PERPETUAL	+0.0758%	1h	0.000004964	−0.441%	$71K	$107K	25x	as long as short