Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Bybit against Variational Omni+1.260%7-day average +0.031% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days−1.248%−$125 · spread now +1.260%, 7d avg +0.031%

Together, before fees−1.260%+ Points / potential airdropVariational Omni: Active · farm board−$126 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 1.229% dearer against Variational Omni than usual: you sell high and buy low, +$123 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000005034	0.0100	pay 0.0100% / 8h	4h 41m	$675K	$4.7M	—
Short	Bybit 1000PEPEUSDT	0.000005097	0.0100	get 0.0100% / 8h	4h 41m	$99.7M	$346.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now +1.260%Rate

Funding earned: $0
Price spread: +1.260% → +0.031%: $122.93
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $111.93
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Bybit: live order book, 3 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 3 min ago	4.93 bp	doesn't fit	20.7 bp −$207	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.98 bp	10.0 bp −$10	15.0 bp −$150	43.1 bp −$4,308	282.6 bp −$141.3K

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
dYdX PEPE-USD	0.0000%	1h	0.000005091	+1.133%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000005091	+1.145%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005100	+1.320%	$65K	$140K	10x	as long as short
Bybit 1000PEPEUSDTshort	+0.0100%	8h	0.000005097	+1.260%	$99.7M	$346.0M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000005093	+1.181%	$168.3M	$76.1M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005093	+1.177%	$26.2M	$63.9M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000005034	long leg	$675K	$4.7M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005091	+1.132%	$31K	$451K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005101	+1.334%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005106	+1.445%	$581K	$3.7M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0171%	8h	0.000005103	+1.379%	$46.6M	$175.0M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005091	+1.146%	$8K	—	15x	as long as short
Injective PEPE/USDC PERP	+0.0254%	1h	0.000005044	+0.207%	$3K	$102K	12x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0333%	8h	0.000005105	+1.415%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0363%	8h	0.000005103	+1.379%	$45.9M	$603.9M	50x	as long as short
BloFin PEPE-USDT	+0.0482%	8h	0.000005085	+1.022%	$4.4M	$25.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0604%	8h	0.000005095	+1.224%	$2.4M	$7.1M	50x	as long as short
BingX 1000PEPE-USDT	+0.0642%	8h	0.000005096	+1.234%	—	$261.8M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0663%	1h	0.000005050	+0.326%	$100K	$742K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0672% / S −0.0925%	1h	0.000005000	−0.667%	$46K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0672%	1h	0.000005101	+1.340%	$970K	$32.2M	50x	as long as short
Extended 1000PEPE-USD	+0.0688%	1h	0.000005098	+1.290%	$538K	$226K	25x	as long as short
MEXC PEPE_USDT	+0.0688%	8h	0.000005093	+1.187%	$93.3M	$287.5M	300x	as long as short
Aevo 1000PEPE-PERP	+0.0688%	1h	0.000005096	+1.240%	$144K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0694%	8h	0.000005103	+1.383%	$143.8M	$1.22B	75x	as long as short
SoDEX 1000PEPE-USD	+0.0711%	1h	0.000005104	+1.399%	$2K	$12K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0731%	1h	0.000005101	+1.340%	$72K	$124K	25x	as long as short
Nado kPEPE-PERP	+0.0783%	1h	0.000005094	+1.199%	$199K	$880K	10x	as long as short
Aster 1000PEPEUSDT	+0.0788%	8h	0.000005101	+1.346%	$1.8M	$9.2M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0794%	8h	0.000005092	+1.156%	$6K	—	20x	as long as short
Lighter 1000PEPE	+0.0880%	1h	0.000005100	+1.320%	$580K	$8.2M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0909%	1h	0.000005097	+1.256%	$99K	$644K	15x	as long as short
01 Exchange kPEPEUSD	+0.1008%	1h	0.000005108	+1.479%	$616	$3K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1280%	1h	0.000005087	+1.059%	$4.4M	$15.5M	50x	as long as short
Hyperliquid kPEPE	+0.1452%	1h	0.000005100	+1.320%	$54.7M	$140.3M	10x	as long as short