Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0461%/8h= +50.4% APRpaid last 24h +0.041%

Price spread now: Deribit against SunX+0.016%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$149as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1451.449% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$14 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 -0.038% in total (about -2.0% 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	SunX 1000PEPE-USDT	0.000004937	0.0100	pay 0.0100% / 8h	7h 27m	$2K	$2.4M	20x
Short	Deribit 1000PEPE_USDC-PERPETUAL	0.000004938	0.0561	get 0.0070% / 1h	27m 40s	$67K	$110K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now +0.016%Rate

Funding earned: $96.75
Price spread: +0.016% → 0.000%: $1.62
Slippage, 4 orders: −$129.9
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$46.53
Costs to cover: 1.449%
Break-even: 10.4 days

Slippage from SunX: live order book, 9 min ago; Deribit: live order book, 11 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 SunX live order book, 9 min ago	29.18 bp	47.2 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 11 min ago	6.11 bp	9.6 bp −$10	doesn't fit	doesn't fit	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
Kraken Futures PF_PEPEUSD	−0.0118%	1h	0.000004938	+0.020%	$3.9M	$14.0M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004940	+0.057%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004926	−0.225%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004944	+0.138%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004937	−0.006%	$91.6M	$304.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004942	+0.097%	$157.0M	$66.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004944	+0.138%	$25.0M	$56.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004942	+0.107%	$43.0M	$152.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004960	+0.456%	$585K	$4.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004971	+0.690%	$52K	$379K	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-USDTlong	+0.0100%	8h	0.000004937	long leg	$2K	$2.4M	20x
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004937	−0.004%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004968	+0.622%	$557K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004932	−0.103%	$2.4M	$6.6M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0181%	8h	0.000004941	+0.077%	$43.4M	$526.1M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004920	−0.353%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0205%	8h	0.000004943	+0.110%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0287%	8h	0.000004936	−0.016%	$30K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0302%	8h	0.000004974	+0.745%	$4.0M	$23.6M	75x	as long as short
Lighter 1000PEPE	+0.0368%	1h	0.000004946	+0.178%	$580K	$6.7M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004945	+0.158%	$661K	$26.9M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0440%	1h	0.000004944	+0.138%	$102K	$754K	25x	as long as short
Nado kPEPE-PERP	+0.0472%	1h	0.000004919	−0.375%	$190K	$857K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0477% / S −0.0379%	1h	0.000004000	−18.982%	$61K	—	100x	as long as short
01 Exchange kPEPEUSD	+0.0480%	1h	0.000004954	+0.340%	$1K	$2K	10x	as long as short
BingX 1000PEPE-USDC	+0.0483%	8h	0.000004943	+0.111%	—	$2.3M	—	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000004940	+0.057%	$140K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0489%	8h	0.000004946	+0.177%	$137.9M	$1.10B	75x	as long as short
MEXC PEPE_USDT	+0.0494%	8h	0.000004942	+0.101%	$97.3M	$285.1M	300x	as long as short
Extended 1000PEPE-USD	+0.0496%	1h	0.000004942	+0.102%	$543K	$148K	25x	as long as short
Aster 1000PEPEUSDT	+0.0518%	8h	0.000004948	+0.213%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0554%	1h	0.000004940	+0.057%	$94K	$601K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUALshort	+0.0561%	1h	0.000004938	+0.016%	$67K	$110K	25x
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004983	+0.928%	$4K	$102K	12x	as long as short
Hyperliquid kPEPE	+0.0699%	1h	0.000004956	+0.381%	$59.1M	$119.6M	10x	as long as short