Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bybit against Pacifica−0.154%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Pacifica Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 4 days (all we have)+0.085%+$8 · spread now −0.154%, 7d avg −0.049%

Together, before fees−0.039%+ Points / potential airdropPacifica: Active · farm board−$4 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 0.105% cheaper against Pacifica than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica kPEPE	0.000005333	0.0100	pay 0.0013% / 1h	50m 03s	$70K	$152K	10x
Short	Bybit 1000PEPEUSDT	0.000005325	0.0100	get 0.0100% / 8h	3h 50m	$104.1M	$369.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Pacifica. 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 PacificabpFee BybitbpOrdersPrice spread, now −0.154%Rate

Funding earned: $0
Price spread: −0.154% → −0.049%: −$10.46
Slippage, 4 orders: −$34.6
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$64.06
Costs to cover: 0.536%
Break-even: never at this rate

Slippage from Pacifica: live order book, 3 min ago; Bybit: 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 Pacifica live order book, 3 min ago	7.49 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.95 bp	10.1 bp −$10	15.2 bp −$152	31.5 bp −$3,153	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	0.000005326	−0.129%	$20K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005322	−0.214%	$15K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005381	+0.900%	$3K	$111K	12x	as long as short
Pacifica kPEPElong	+0.0100%	1h	0.000005333	long leg	$70K	$152K	10x
Bybit 1000PEPEUSDTshort	+0.0100%	8h	0.000005325	−0.154%	$104.1M	$369.4M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005325	−0.150%	$176.0M	$85.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005327	−0.113%	$27.0M	$67.3M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005323	−0.196%	$765K	$5.0M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005303	−0.559%	$38K	$492K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005331	−0.047%	$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	0.000005335	+0.036%	$615K	$3.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005329	−0.067%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0252%	8h	0.000005328	−0.084%	$51.7M	$186.0M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0375%	8h	0.000005332	−0.013%	$36K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0414%	8h	0.000005330	−0.056%	$52.3M	$673.7M	50x	as long as short
BloFin PEPE-USDT	+0.0531%	8h	0.000005341	+0.150%	$4.6M	$28.1M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0620%	8h	0.000005338	+0.084%	$2.6M	$7.4M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005333	0.000%	$718K	$36.3M	50x	as long as short
BingX 1000PEPE-USDC	+0.0742%	8h	0.000005331	−0.036%	—	$2.3M	—	as long as short
SoDEX 1000PEPE-USD	+0.0780%	1h	0.000005330	−0.056%	$2K	$10K	10x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000005326	−0.123%	$566K	$226K	25x	as long as short
MEXC PEPE_USDT	+0.0800%	8h	0.000005326	−0.129%	$103.8M	$292.0M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005334	+0.019%	$151K	—	3x	as long as short
Paradex kPEPE-USD-PERP	+0.0802%	8h	0.000005330	−0.051%	$6K	—	20x	as long as short
Binance 1000PEPEUSDT	+0.0804%	8h	0.000005331	−0.041%	$155.4M	$1.30B	75x	as long as short
Nado kPEPE-PERP	+0.0874%	1h	0.000005327	−0.107%	$190K	$913K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0877%	1h	0.000005331	−0.038%	$76K	$126K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0883% / S −0.1721%	1h	0.000005000	−6.244%	$66K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0935%	8h	0.000005332	−0.026%	$1.9M	$9.9M	50x	as long as short
Lighter 1000PEPE	+0.1080%	1h	0.000005336	+0.056%	$665K	$8.5M	10x	as long as short
01 Exchange kPEPEUSD	+0.1304%	1h	0.000005334	+0.019%	$643	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1455%	1h	0.000005334	+0.013%	$72K	$722K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1532%	1h	0.000005329	−0.078%	$4.9M	$16.3M	50x	as long as short
Hyperliquid kPEPE	+0.1732%	1h	0.000005341	+0.150%	$58.4M	$144.2M	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.2018%	1h	0.000005320	−0.244%	$176K	$798K	25x	as long as short