Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0710%/8h= −77.7% APRpaid last 24h −0.079%

Price spread now: OKX against 01 Exchange−0.079%55s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and OKX is 0.079% cheaper against 01 Exchange than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange kPEPEUSD	0.000005044	0.0952	pay 0.0119% / 1h	16m 51s	$1K	$2K	10x
Short	OKX PEPE-USDT-SWAP	0.000005040	0.0242	get 0.0242% / 8h	6h 16m	$45.1M	$568.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against 01 Exchange. 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 01 ExchangebpFee OKXbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$149.04
Price spread: −0.079% → 0.000%: −$7.93
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$173.97
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; OKX: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell OKX live order book, 2 min ago	0.99 bp	6.0 bp −$6	9.4 bp −$94	37.4 bp −$3,735	doesn't fit

01 Exchange: 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 34 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	0.000005043	−0.018%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005038	−0.127%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005043	−0.020%	$61K	$126K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005036	−0.157%	$97.6M	$324.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005044	0.000%	$162.0M	$71.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005045	+0.014%	$25.4M	$60.9M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000005049	+0.101%	$45.5M	$162.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005056	+0.229%	$624K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005039	−0.103%	$27K	$422K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005045	+0.014%	$1K	$2.4M	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000005041	−0.050%	$566K	$3.6M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005044	+0.001%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAPshort	+0.0242%	8h	0.000005040	−0.079%	$45.1M	$568.3M	50x
Orderly PERP_1000PEPE_USDC	+0.0281%	8h	0.000005041	−0.052%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0333%	1h	0.000005041	−0.059%	$106K	$747K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005053	+0.178%	$746K	$29.8M	50x	as long as short
BingX 1000PEPE-USDC	+0.0497%	8h	0.000005042	−0.044%	—	$2.3M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0517% / S −0.0546%	1h	0.000005000	−0.872%	$56K	—	100x	as long as short
MEXC PEPE_USDT	+0.0525%	8h	0.000005055	+0.218%	$94.7M	$291.2M	300x	as long as short
Extended 1000PEPE-USD	+0.0528%	1h	0.000005047	+0.061%	$554K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0528%	1h	0.000005042	−0.040%	$143K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0531%	8h	0.000005040	−0.071%	$141.7M	$1.17B	75x	as long as short
Phemex u1000PEPEUSDT	+0.0536%	8h	0.000005045	+0.024%	$2.4M	$7.0M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0566%	1h	0.000005046	+0.040%	$2K	$12K	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0592%	8h	0.000005043	−0.013%	$6K	$16	20x	as long as short
Aster 1000PEPEUSDT	+0.0624%	8h	0.000005048	+0.079%	$1.7M	$8.2M	50x	as long as short
Nado kPEPE-PERP	+0.0653%	1h	0.000005040	−0.073%	$180K	$881K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0742%	1h	0.000005044	0.000%	$61K	$114K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0826%	1h	0.000005045	+0.016%	$4.0M	$14.5M	50x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005098	+1.071%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0919%	1h	0.000005045	+0.022%	$98K	$618K	15x	as long as short
01 Exchange kPEPEUSDlong	+0.0952%	1h	0.000005044	long leg	$1K	$2K	10x
Lighter 1000PEPE	+0.1656%	1h	0.000005051	+0.139%	$1.1M	$7.4M	10x	as long as short
Hyperliquid kPEPE	+0.2131%	1h	0.000005059	+0.297%	$55.7M	$136.0M	10x	as long as short