Funding arb · Price arb /

PEPE

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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 −0.002%

Price spread now: KuCoin against Variational Omni−1.260%7-day average +0.061% · you buy dearer than you sell

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

Long on Variational Omni Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.034%+$3 on $10k

Price spread, last 7 days+1.326%+$133 · spread now −1.260%, 7d avg +0.061%

Together, before fees+1.360%+ Points / potential airdropVariational Omni: Active · farm board+$136 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: KuCoin is 1.321% cheaper against Variational Omni than usual: you would sell low and buy high, −$132 on $10k if it goes back to its 7-day average of +0.061%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni 1000PEPE	0.000005053	0.0100	pay 0.0100% / 8h	7h 02m	$591K	$4.4M	—
Short	KuCoin PEPEUSDTM	0.000004989	0.0100	get 0.0100% / 8h	7h 02m	$25.2M	$58.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now −1.260%Rate

Funding earned: $0
Price spread: −1.260% → +0.061%: −$132.13
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$144.13
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; KuCoin: live order book, 2 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, 2 min ago	4.94 bp	doesn't fit	18.8 bp −$188	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	1.59 bp	12.9 bp −$13	18.9 bp −$189	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	−0.0117%	1h	0.000004984	−1.355%	$3.9M	$14.3M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000005002	−1.008%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0009%	1h	0.000004996	−1.122%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005002	−1.001%	$59K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004983	−1.371%	$95.1M	$312.4M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004987	−1.298%	$159.9M	$69.6M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0100%	8h	0.000004989	−1.260%	$25.2M	$58.0M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000004991	−1.222%	$44.3M	$156.5M	75x	as long as short
Variational Omni 1000PEPElong	+0.0100%	8h	0.000005053	long leg	$591K	$4.4M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005083	+0.607%	$46K	$386K	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-USDT	+0.0100%	8h	0.000004990	−1.236%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004987	−1.298%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004998	−1.082%	$559K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004991	−1.211%	$2.4M	$6.8M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0188%	8h	0.000004992	−1.199%	$44.2M	$544.5M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004998	−1.082%	$8K	—	15x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0235%	1h	0.000005063	+0.207%	$111K	$752K	25x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0269%	8h	0.000005001	−1.028%	$32K	$22K	20x	as long as short
Paradex kPEPE-USD-PERP	+0.0307%	8h	0.000004990	−1.242%	$6K	$16	20x	as long as short
BloFin PEPE-USDT	+0.0313%	8h	0.000005013	−0.783%	$4.1M	$24.4M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0351%	1h	0.000004990	−1.238%	$61K	$114K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004991	−1.218%	$626K	$27.9M	50x	as long as short
BingX 1000PEPE-USDT	+0.0452%	8h	0.000004992	−1.205%	—	$257.7M	—	as long as short
Extended 1000PEPE-USD	+0.0472%	1h	0.000004991	−1.214%	$549K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	0.000004998	−1.080%	$141K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0473%	8h	0.000004988	−1.283%	$137.9M	$1.13B	75x	as long as short
MEXC PEPE_USDT	+0.0475%	8h	0.000004987	−1.304%	$95.9M	$293.6M	300x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0500% / S −0.0406%	1h	0.000004000	−20.832%	$62K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0530%	8h	0.000004990	−1.235%	$1.7M	$7.8M	50x	as long as short
Nado kPEPE-PERP	+0.0598%	1h	0.000004994	−1.162%	$184K	$867K	10x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000005069	+0.325%	$4K	$102K	12x	as long as short
Lighter 1000PEPE	+0.0656%	1h	0.000004995	−1.139%	$647K	$6.9M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0661%	1h	0.000004985	−1.343%	$96K	$607K	15x	as long as short
01 Exchange kPEPEUSD	+0.0672%	1h	0.000004996	−1.120%	$1K	$2K	10x	as long as short
Hyperliquid kPEPE	+0.2299%	1h	0.000005004	−0.961%	$55.5M	$133.3M	10x	as long as short