Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0077%/8h= −8.5% APRpaid last 24h −0.132%

Price spread now: Phemex against 01 Exchange+0.424%7-day average — · you sell dearer than you buy

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

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread pays, funding is against you. Phemex is 0.424% dearer against 01 Exchange than usual: you sell high and buy low (spread +0.424% now, against zero (this spread has no 7-day history yet)): +$42 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 18 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange kPEPEUSD	0.000005141	0.0688	pay 0.0086% / 1h	6m 30s	$620	$3K	10x
Short	Phemex u1000PEPEUSDT	0.000005163	0.0611	get 0.0611% / 8h	2h 06m	$2.4M	$7.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.424%Rate

Funding earned: −$16.26
Price spread: +0.424% → 0.000%: $42.4
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: $7.14
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: 01 Exchange: no order-book sample; Phemex: 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 Phemex live order book, 2 min ago	10.56 bp	23.2 bp −$23	31.3 bp −$313	doesn't fit	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 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	0.000005138	−0.049%	$19K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0007%	1h	0.000005154	+0.247%	$4K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005144	+0.058%	$59K	$178K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005134	−0.136%	$100.4M	$410.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005141	0.000%	$162.8M	$95.6M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005144	+0.060%	$26.1M	$71.4M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005142	+0.012%	$614K	$5.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005135	−0.114%	$28K	$538K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005165	+0.471%	$2K	$2.6M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005160	+0.370%	$586K	$4.2M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX 1000PEPE-USD	+0.0184%	1h	0.000005161	+0.389%	$2K	$11K	10x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005138	−0.059%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0322%	8h	0.000005137	−0.080%	$45.7M	$212.7M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0383%	8h	0.000005163	+0.420%	$34K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0422%	8h	0.000005137	−0.078%	$47.2M	$712.0M	50x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0526%	1h	0.000005158	+0.331%	$74K	$127K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0547%	8h	0.000005139	−0.034%	$6K	—	20x	as long as short
BloFin PEPE-USDT	+0.0549%	8h	0.000005159	+0.350%	$4.3M	$29.3M	75x	as long as short
Lighter 1000PEPE	+0.0592%	1h	0.000005147	+0.117%	$621K	$9.1M	10x	as long as short
Phemex u1000PEPEUSDTshort	+0.0611%	8h	0.000005163	+0.424%	$2.4M	$7.9M	50x
Nado kPEPE-PERP	+0.0651%	1h	0.000005135	−0.118%	$159K	$951K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0660%	1h	0.000005160	+0.368%	$67K	$842K	15x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0680%	1h	0.000005157	+0.311%	$694K	$38.1M	50x	as long as short
01 Exchange kPEPEUSDlong	+0.0688%	1h	0.000005141	long leg	$620	$3K	10x
BingX 1000PEPE-USDT	+0.0760%	8h	0.000005140	−0.012%	—	$239.9M	—	as long as short
ApeX Omni 1000PEPEUSDT	+0.0784%	1h	0.000005139	−0.039%	$156K	$817K	25x	as long as short
MEXC PEPE_USDT	+0.0797%	8h	0.000005142	+0.027%	$98.5M	$304.6M	300x	as long as short
Binance 1000PEPEUSDT	+0.0797%	8h	0.000005142	+0.022%	$143.0M	$1.43B	75x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000005139	−0.047%	$544K	$281K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0800%	1h	0.000005162	+0.408%	$146K	—	3x	as long as short
Kraken Futures PF_PEPEUSD	+0.0828%	1h	0.000005158	+0.334%	$4.7M	$16.7M	50x	as long as short
Aster 1000PEPEUSDT	+0.0831%	8h	0.000005143	+0.029%	$1.8M	$11.4M	50x	as long as short
Hyperliquid kPEPE	+0.1025%	1h	0.000005152	+0.214%	$54.8M	$153.5M	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.1132% / S −0.2351%	1h	0.000005000	−2.743%	$63K	—	100x	as long as short
Injective PEPE/USDC PERP	+0.1379%	1h	0.000005158	+0.331%	$10K	$119K	12x	as long as short