Funding arb · Price arb /

PEPE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0053%/8hpaid last 24h −0.076%

Price spread now: Deribit against Aster+0.127%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Deribit is 0.127% dearer against Aster than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.178%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster 1000PEPEUSDT	0.000004978	0.0902	pay 0.0902% / 8h	4h 06m	$1.5M	$6.4M	50x
Short	Deribit 1000PEPE_USDC-PERPETUAL	0.000004984	0.0955	get 0.0119% / 1h	6m 30s	$84K	$87K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. 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 AsterbpFee DeribitbpOrdersPrice spread, now +0.127%Rate

Funding earned: $11.12
Price spread: +0.127% → 0.000%: $12.68
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $8.79
Costs to cover: 0.150%
Break-even: 1.5 days

Slippage unknown: Aster: live order book, 2 min ago; Deribit: no order-book sample. 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 Aster live order book, 2 min ago	1.10 bp	9.2 bp −$9	14.6 bp −$146	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: 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	0.000004961	−0.336%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004979	+0.020%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004968	−0.195%	$59K	$105K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004965	−0.259%	$89.5M	$256.3M	50x	as long as short
OKX PEPE-USDT-SWAP	+0.0100%	8h	0.000004968	−0.195%	$43.6M	$484.2M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004963	−0.295%	$151.3M	$58.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004963	−0.287%	$25.6M	$46.0M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004976	−0.024%	$704K	$3.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004990	+0.243%	$28K	$330K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004991	+0.261%	$2K	$2.4M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX PEPE-USDT	+0.0100%	8h	0.000004987	+0.189%	$573K	$3.7M	75x	as long as short
Bitget PEPEUSDT	+0.0139%	8h	0.000004968	−0.201%	$46.9M	$136.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0188%	1h	0.000004968	−0.200%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0220%	8h	0.000004975	−0.054%	$4.1M	$21.3M	75x	as long as short
SoDEX 1000PEPE-USD	+0.0273%	1h	0.000004983	+0.107%	$2K	$9K	10x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0288%	8h	0.000004985	+0.141%	$31K	$10K	20x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0291% / S −0.0261%	1h	0.000004000	−19.641%	$46K	—	100x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0314%	1h	0.000004989	+0.227%	$103K	$758K	25x	as long as short
Hyperliquid kPEPE	+0.0469%	1h	0.000004972	−0.114%	$56.8M	$61.7M	10x	as long as short
Paradex kPEPE-USD-PERP	+0.0480%	8h	0.000004969	−0.182%	$6K	$26	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0496%	1h	0.000004987	+0.187%	$637K	$25.1M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0505%	8h	0.000004978	−0.002%	$2.4M	$6.1M	50x	as long as short
Nado kPEPE-PERP	+0.0631%	1h	0.000004970	−0.160%	$200K	$795K	10x	as long as short
01 Exchange kPEPEUSD	+0.0736%	1h	0.000004973	−0.094%	$570	$2K	10x	as long as short
Lighter 1000PEPE	+0.0744%	1h	0.000004972	−0.114%	$600K	$5.0M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0744%	1h	0.000004978	+0.014%	$98K	$573K	15x	as long as short
BingX 1000PEPE-USDT	+0.0756%	8h	0.000004966	−0.243%	—	$251.0M	—	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000004988	+0.207%	$141K	—	3x	as long as short
Extended 1000PEPE-USD	+0.0800%	1h	0.000004968	−0.204%	$549K	$147K	25x	as long as short
MEXC PEPE_USDT	+0.0801%	8h	0.000004971	−0.142%	$114.1M	$270.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0802%	8h	0.000004968	−0.198%	$131.7M	$954.5M	75x	as long as short
Aster 1000PEPEUSDTlong	+0.0902%	8h	0.000004978	long leg	$1.5M	$6.4M	50x
Deribit 1000PEPE_USDC-PERPETUALshort	+0.0955%	1h	0.000004984	+0.127%	$84K	$87K	25x
Kraken Futures PF_PEPEUSD	+0.1521%	1h	0.000004981	+0.069%	$4.0M	$12.0M	50x	as long as short
Injective PEPE/USDC PERP	+0.2268%	1h	0.000004956	−0.436%	$5K	$68K	12x	as long as short