Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h −0.106%

Price spread now: BingX against Lighter−0.037%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 7 days+0.111%+$11 · spread now −0.037%, 7d avg −0.022%

Together, before fees−0.004%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.114%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter 1000PEPE	0.000005092	0.0592	pay 0.0074% / 1h	30m 01s	$606K	$9.1M	10x
Short	BingX 1000PEPE-USDT	0.000005090	0.0729	get 0.0729% / 8h	1h 30m	—	$217.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter. 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 LighterbpFee BingXbpOrdersPrice spread, now −0.037%Rate

Funding earned: $28.85
Price spread: −0.037% → −0.022%: −$1.55
Slippage, 4 orders: −$9.37
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: $7.93
Costs to cover: 0.194%
Break-even: 5.1 days

Slippage from Lighter: live order book, 8 min ago; BingX: live order book, 4 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 Lighter live order book, 8 min ago	1.95 bp	5.0 bp −$5	18.7 bp −$187	50.4 bp −$5,038	doesn't fit
Sell BingX live order book, 4 min ago	0.10 bp	5.1 bp −$5	7.0 bp −$70	16.0 bp −$1,600	36.6 bp −$18.3K

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
Injective PEPE/USDC PERP	−0.0016%	1h	0.000005072	−0.393%	$9K	$120K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005070	−0.439%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0008%	1h	0.000005072	−0.397%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005079	−0.255%	$59K	$181K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005090	−0.041%	$99.3M	$418.8M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005084	−0.157%	$161.9M	$97.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005092	+0.008%	$25.8M	$72.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005079	−0.263%	$595K	$5.4M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005079	−0.258%	$28K	$543K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005093	+0.029%	$1K	$2.7M	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	0.000005097	+0.102%	$589K	$4.2M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0156%	1h	0.000005090	−0.039%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005082	−0.205%	$8K	—	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0230%	1h	0.000005079	−0.255%	$154K	$822K	25x	as long as short
Bitget PEPEUSDT	+0.0288%	8h	0.000005091	−0.014%	$45.5M	$215.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0389%	8h	0.000005088	−0.081%	$33K	$26K	20x	as long as short
Backpack kPEPE_USDC_PERP	+0.0402%	1h	0.000005092	+0.006%	$73K	$859K	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0410%	8h	0.000005091	−0.020%	$47.3M	$722.7M	50x	as long as short
Kraken Futures PF_PEPEUSD	+0.0459%	1h	0.000005089	−0.064%	$4.6M	$16.5M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0495%	8h	0.000005079	−0.246%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0532%	8h	0.000005075	−0.334%	$4.6M	$29.2M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0537%	1h	0.000005088	−0.079%	$73K	$127K	25x	as long as short
Phemex u1000PEPEUSDT	+0.0578%	8h	0.000005085	−0.137%	$2.3M	$8.0M	50x	as long as short
Lighter 1000PEPElong	+0.0592%	1h	0.000005092	long leg	$606K	$9.1M	10x
Coinbase International 1000PEPE-PERP-INTX	+0.0624%	1h	0.000005064	−0.550%	$685K	$38.3M	50x	as long as short
01 Exchange kPEPEUSD	+0.0656%	1h	0.000005080	−0.236%	$812	$3K	10x	as long as short
BingX 1000PEPE-USDTshort	+0.0729%	8h	0.000005090	−0.037%	—	$217.7M	—
Extended 1000PEPE-USD	+0.0760%	1h	0.000005088	−0.076%	$538K	$280K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0760%	1h	0.000005087	−0.098%	$144K	—	3x	as long as short
MEXC PEPE_USDT	+0.0763%	8h	0.000005090	−0.045%	$97.7M	$304.5M	300x	as long as short
Binance 1000PEPEUSDT	+0.0764%	8h	0.000005092	−0.002%	$139.7M	$1.46B	75x	as long as short
Aster 1000PEPEUSDT	+0.0765%	8h	0.000005087	−0.103%	$1.7M	$11.7M	50x	as long as short
Nado kPEPE-PERP	+0.0766%	1h	0.000005080	−0.226%	$163K	$959K	10x	as long as short
Hyperliquid kPEPE	+0.0952%	1h	0.000005093	+0.020%	$52.7M	$156.3M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1130% / S −0.2257%	1h	0.000005000	−1.807%	$63K	—	100x	as long as short