Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.050%

Price spread now: Variational Omni against ApeX Omni−0.256%58s7-day average −0.075% · you buy dearer than you sell

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.078%−$8 on $10k

Price spread, last 3 days (all we have)+0.217%+$22 · spread now −0.256%, 7d avg −0.075%

Together, before fees+0.139%+ Points / potential airdropVariational Omni: Active · farm board+$14 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: Variational Omni is 0.181% cheaper against ApeX Omni than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.075%. The two prices were read 58 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	ApeX Omni 1000PEPEUSDT	0.000004745	0.0100	pay 0.0013% / 1h	20m 29s	$99K	$755K	25x
Short	Variational Omni 1000PEPE	0.000004733	0.0100	get 0.0100% / 8h	20m 29s	$570K	$4.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against ApeX 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 ApeX OmnibpFee Variational OmnibpOrdersPrice spread, now −0.256%Rate

Funding earned: $0
Price spread: −0.256% → −0.075%: −$18.09
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$28.09
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 58 min ago; Variational Omni: RFQ quote, 4 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 ApeX Omni live order book, 58 min ago	5.11 bp	12.2 bp −$12	100.3 bp −$1,003	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	5.28 bp	doesn't fit	15.8 bp −$158	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
Hyperliquid kPEPE	−0.0224%	1h	0.000004724	−0.443%	$67.8M	$94.6M	10x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004729	−0.332%	$17K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004729	−0.335%	$13K	—	150x	as long as short
Kraken Futures PF_PEPEUSD	+0.0067%	1h	0.000004725	−0.428%	$3.8M	$13.7M	50x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004728	−0.358%	$59K	$116K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004731	−0.297%	$86.0M	$292.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004729	−0.337%	$149.1M	$64.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004732	−0.276%	$24.1M	$54.6M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004732	−0.278%	$41.8M	$150.4M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000004733	−0.256%	$570K	$4.2M	—

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004744	−0.013%	$25K	$350K	20x	as long as short
ApeX Omni 1000PEPEUSDTlong	+0.0100%	1h	0.000004745	long leg	$99K	$755K	25x
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004742	−0.055%	$1K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004728	−0.358%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004733	−0.244%	$534K	$3.5M	75x	as long as short
Lighter 1000PEPE	+0.0120%	1h	0.000004735	−0.211%	$607K	$6.5M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0175%	8h	0.000004727	−0.378%	$5K	$16	20x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004732	−0.272%	$7K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0202%	8h	0.000004734	−0.232%	$41.0M	$493.4M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0203%	8h	0.000004726	−0.390%	$2.3M	$6.5M	50x	as long as short
01 Exchange kPEPEUSD	+0.0272%	1h	0.000004735	−0.211%	$542	$2K	10x	as long as short
BloFin PEPE-USDT	+0.0321%	8h	0.000004731	−0.295%	$3.9M	$22.2M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0375%	8h	0.000004735	−0.221%	$29K	$13K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0385% / S −0.0322%	1h	0.000004000	−15.701%	$48K	—	100x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0400%	1h	0.000004732	−0.274%	$578K	$25.4M	50x	as long as short
Injective PEPE/USDC PERP	+0.0437%	1h	0.000004756	+0.232%	$4K	$102K	12x	as long as short
Backpack kPEPE_USDC_PERP	+0.0562%	1h	0.000004730	−0.312%	$90K	$602K	15x	as long as short
BingX 1000PEPE-USDC	+0.0582%	8h	0.000004732	−0.270%	—	$2.3M	—	as long as short
Aster 1000PEPEUSDT	+0.0590%	8h	0.000004733	−0.259%	$1.5M	$7.3M	50x	as long as short
Binance 1000PEPEUSDT	+0.0594%	8h	0.000004733	−0.242%	$130.9M	$1.07B	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0597%	1h	0.000004728	−0.358%	$76K	$98K	25x	as long as short
MEXC PEPE_USDT	+0.0597%	8h	0.000004734	−0.240%	$87.8M	$282.0M	300x	as long as short
Extended 1000PEPE-USD	+0.0600%	1h	0.000004733	−0.255%	$521K	$148K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0600%	1h	0.000004736	−0.190%	$134K	—	3x	as long as short
Nado kPEPE-PERP	+0.0649%	1h	0.000004733	−0.253%	$179K	$850K	10x	as long as short