PEPE

Alert

Funding spread now, next payment 18:00 UTC+0.1255%/8h

paid, last 24h−0.005%paid, last 3 days+0.055%to open and closeno order book

Long on Variational Omni Short on Deribit

The current rate is far above what this pair has been paying: over the last 3 days it paid 0.055% in total (about 6.5% 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	Variational Omni 1000PEPE	0.000004980	0.0100	pay 0.0100% / 8h	6h 20m	$772K	$2.8M	—
Short	Deribit 1000PEPE_USDC-PERPETUAL	0.000004991	0.1355	get 0.0169% / 1h	20m 41s	$85K	$96K	25x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Variational OmnibpFee DeribitbpOrdersRate

Funding earned: $263.65
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $256.65
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Deribit: no order-book sample. Net counts fees only.

Price risk

price view

Price gap now: +0.225%
Avg gap 7d: —

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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, 5 min ago	6.00 bp	doesn't fit	26.0 bp −$260	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PEPE on 35 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Injective PEPE/USDC PERP	−0.0669%	1h	$5K	$67K	12x	as long as short
dYdX PEPE-USD	0.0000%	1h	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	$17K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	$63K	$84K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	$89.0M	$232.3M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	$42.8M	$451.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	$145.1M	$53.4M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	$22.1M	$38.2M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	$46.6M	$120.1M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	$772K	$2.8M	—

Show all 35 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	$28K	$337K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	$2K	$2.3M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	$588K	$3.6M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0159%	8h	$31K	$8K	20x	as long as short
Nado kPEPE-PERP	+0.0161%	1h	$204K	$752K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0183% / S −0.0027%	1h	$60K	—	100x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	$8K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	$4.1M	$19.4M	75x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0317%	1h	$93K	$752K	25x	as long as short
SoDEX 1000PEPE-USD	+0.0336%	1h	$2K	$8K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0468%	8h	$6K	$52	20x	as long as short
Phemex u1000PEPEUSDT	+0.0474%	8h	$2.5M	$5.9M	50x	as long as short
BingX 1000PEPE-USDC	+0.0499%	8h	—	$2.3M	—	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0528%	1h	$684K	$23.0M	50x	as long as short
Hyperliquid kPEPE	+0.0544%	1h	$56.9M	$54.0M	10x	as long as short
Extended 1000PEPE-USD	+0.0552%	1h	$549K	$282K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0552%	1h	$141K	—	3x	as long as short
MEXC PEPE_USDT	+0.0555%	8h	$131.8M	$261.0M	300x	as long as short
Binance 1000PEPEUSDT	+0.0558%	8h	$129.9M	$861.1M	75x	as long as short
01 Exchange kPEPEUSD	+0.0736%	1h	$571	$2K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0744%	1h	$100K	$517K	15x	as long as short
Lighter 1000PEPE	+0.0816%	1h	$618K	$4.6M	10x	as long as short
Aster 1000PEPEUSDT	+0.0849%	8h	$1.4M	$5.4M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUALshort	+0.1355%	1h	$85K	$96K	25x
Kraken Futures PF_PEPEUSD	+0.1785%	1h	$3.6M	$9.8M	50x	as long as short