Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0285%/8h= +31.2% APRpaid last 24h +0.049%

Price spread now: Extended against OKX−0.027%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.027%, 7d avg −0.019%

Together, before fees+0.074%+ Points / potential airdropExtended: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.074% in total (about 3.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PEPE-USDT-SWAP	0.000005035	0.0235	pay 0.0235% / 8h	6h 19m	$44.9M	$567.0M	50x
Short	Extended 1000PEPE-USD	0.000005034	0.0520	get 0.0065% / 1h	19m 39s	$554K	$199K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now −0.027%Rate

Funding earned: $59.87
Price spread: −0.027% → −0.019%: −$0.74
Slippage, 4 orders: −$14.73
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $29.4
Costs to cover: 0.297%
Break-even: 3.6 days

Slippage from OKX: live order book, 4 min ago; Extended: live order book, 48 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 OKX live order book, 4 min ago	0.99 bp	7.8 bp −$8	11.3 bp −$113	35.7 bp −$3,567	doesn't fit
Sell Extended live order book, 48 min ago	2.95 bp	7.4 bp −$7	42.4 bp −$424	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	0.000005030	−0.097%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005020	−0.292%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005039	+0.079%	$61K	$126K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005032	−0.050%	$97.4M	$324.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005030	−0.099%	$161.2M	$71.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005039	+0.087%	$25.4M	$60.8M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005034	−0.026%	$45.7M	$162.2M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005056	+0.408%	$624K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005059	+0.485%	$27K	$421K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005040	+0.097%	$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	0.000005028	−0.145%	$564K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005024	−0.216%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAPlong	+0.0235%	8h	0.000005035	long leg	$44.9M	$567.0M	50x
Orderly PERP_1000PEPE_USDC	+0.0279%	8h	0.000005031	−0.089%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0296%	1h	0.000005053	+0.357%	$106K	$746K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005039	+0.079%	$745K	$29.7M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0496%	8h	0.000005038	+0.050%	$2.4M	$7.0M	50x	as long as short
BingX 1000PEPE-USDC	+0.0497%	8h	0.000005034	−0.012%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0515% / S −0.0542%	1h	0.000005000	−0.695%	$56K	—	100x	as long as short
Extended 1000PEPE-USDshort	+0.0520%	1h	0.000005034	−0.027%	$554K	$199K	25x
Aevo 1000PEPE-PERP	+0.0520%	1h	0.000005034	−0.020%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0523%	8h	0.000005040	+0.099%	$94.3M	$291.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0524%	8h	0.000005040	+0.099%	$142.0M	$1.17B	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0546%	1h	0.000005029	−0.119%	$61K	$114K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0547%	1h	0.000005035	0.000%	$2K	$12K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0575%	8h	0.000005031	−0.081%	$6K	$16	20x	as long as short
Aster 1000PEPEUSDT	+0.0617%	8h	0.000005038	+0.056%	$1.7M	$8.2M	50x	as long as short
Nado kPEPE-PERP	+0.0661%	1h	0.000005025	−0.200%	$179K	$881K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0827%	1h	0.000005035	−0.005%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005098	+1.251%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0916%	1h	0.000005035	−0.004%	$100K	$617K	15x	as long as short
01 Exchange kPEPEUSD	+0.0952%	1h	0.000005040	+0.099%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1608%	1h	0.000005052	+0.338%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2160%	1h	0.000005050	+0.298%	$55.6M	$136.0M	10x	as long as short