Funding arb · Price arb /

PEPE

all PEPE markets

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 +0.003%

Price spread now: Phemex against Bitget+0.240%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$730.732% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 3 days (all we have)−0.210%−$21 · spread now +0.240%, 7d avg +0.027%

Together, before fees−0.219%−$22 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: Phemex is 0.212% dearer against Bitget than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PEPEUSDT	0.000005000	0.0100	pay 0.0100% / 8h	6h 46m	$44.5M	$158.5M	75x
Short	Phemex u1000PEPEUSDT	0.000005012	0.0100	get 0.0100% / 8h	6h 46m	$2.4M	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.240%Rate

Funding earned: $0
Price spread: +0.240% → +0.027%: $21.25
Slippage, 4 orders: −$49.22
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$51.97
Costs to cover: 0.732%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Phemex: live order book, 3 min ago.

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 Bitget live order book, 3 min ago	2.88 bp	10.3 bp −$10	12.7 bp −$127	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	15.00 bp	31.1 bp −$31	35.8 bp −$358	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
dYdX PEPE-USD	0.0000%	1h	0.000005017	+0.336%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005009	+0.166%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005029	+0.572%	$62K	$125K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005008	+0.146%	$96.6M	$319.7M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005010	+0.192%	$159.3M	$69.8M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005012	+0.240%	$25.2M	$59.2M	75x	as long as short
Bitget PEPEUSDTlong	+0.0100%	8h	0.000005000	long leg	$44.5M	$158.5M	75x
Variational Omni 1000PEPE	+0.0100%	8h	0.000005015	+0.286%	$559K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005012	+0.235%	$46K	$388K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005019	+0.372%	$2K	$2.5M	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	0.000005022	+0.422%	$559K	$3.6M	75x	as long as short
Phemex u1000PEPEUSDTshort	+0.0100%	8h	0.000005012	+0.240%	$2.4M	$6.8M	50x
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005017	+0.329%	$8K	—	15x	as long as short
OKX PEPE-USDT-SWAP	+0.0207%	8h	0.000005009	+0.172%	$44.3M	$555.2M	50x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0275%	8h	0.000005013	+0.244%	$33K	$23K	20x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0289%	1h	0.000005006	+0.112%	$106K	$752K	25x	as long as short
BloFin PEPE-USDT	+0.0318%	8h	0.000005008	+0.152%	$4.2M	$24.6M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0349%	1h	0.000005012	+0.232%	$61K	$114K	25x	as long as short
Paradex kPEPE-USD-PERP	+0.0418%	8h	0.000005030	+0.601%	$6K	$16	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0424%	1h	0.000005018	+0.352%	$648K	$28.7M	50x	as long as short
BingX 1000PEPE-USDT	+0.0455%	8h	0.000005000	0.000%	—	$258.1M	—	as long as short
Aevo 1000PEPE-PERP	+0.0480%	1h	0.000005012	+0.232%	$142K	—	3x	as long as short
MEXC PEPE_USDT	+0.0486%	8h	0.000005015	+0.292%	$95.0M	$288.1M	300x	as long as short
Binance 1000PEPEUSDT	+0.0486%	8h	0.000005015	+0.284%	$139.0M	$1.16B	75x	as long as short
Extended 1000PEPE-USD	+0.0488%	1h	0.000005013	+0.253%	$552K	$199K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0505% / S −0.0411%	1h	0.000005000	−0.008%	$63K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0564%	8h	0.000005019	+0.378%	$1.7M	$8.0M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0579%	1h	0.000005012	+0.232%	$2K	$12K	10x	as long as short
Nado kPEPE-PERP	+0.0590%	1h	0.000005020	+0.394%	$178K	$883K	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.0831%	1h	0.000005012	+0.226%	$3.9M	$14.4M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0873%	1h	0.000005005	+0.098%	$102K	$625K	15x	as long as short
Injective PEPE/USDC PERP	+0.0909%	1h	0.000005039	+0.772%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0976%	1h	0.000005030	+0.592%	$1K	$2K	10x	as long as short
Lighter 1000PEPE	+0.1232%	1h	0.000005018	+0.352%	$649K	$6.8M	10x	as long as short
Hyperliquid kPEPE	+0.2523%	1h	0.000005016	+0.312%	$55.4M	$134.8M	10x	as long as short