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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Variational Omni against Bybit+0.133%7-day average −0.027% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 7 days−0.152%−$15 · spread now +0.133%, 7d avg −0.027%

Together, before fees−0.140%+ 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 0.160% dearer against Bybit than usual: you sell high and buy low, +$16 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	Bybit 1000PEPEUSDT	0.000004814	0.0100	pay 0.0100% / 8h	2h 08m	$87.6M	$275.5M	50x
Short	Variational Omni 1000PEPE	0.000004820	0.0100	get 0.0100% / 8h	2h 08m	$577K	$3.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.133%Rate

Funding earned: $0
Price spread: +0.133% → −0.027%: $15.97
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $4.97
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 11 min ago; Variational Omni: RFQ quote, 1 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 Bybit live order book, 11 min ago	1.04 bp	12.3 bp −$12	18.2 bp −$182	40.3 bp −$4,034	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	5.18 bp	doesn't fit	30.0 bp −$300	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	0.000004805	−0.190%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004817	+0.052%	$14K	—	150x	as long as short
Hyperliquid kPEPE	+0.0100%	1h	0.000004809	−0.104%	$58.4M	$72.6M	10x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004809	−0.104%	$59K	$113K	10x	as long as short
Bybit 1000PEPEUSDTlong	+0.0100%	8h	0.000004814	long leg	$87.6M	$275.5M	50x
Gate PEPE_USDT	+0.0100%	8h	0.000004806	−0.166%	$150.2M	$62.3M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004809	−0.108%	$24.9M	$53.3M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000004820	+0.133%	$577K	$3.8M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004821	+0.153%	$27K	$340K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004836	+0.451%	$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	0.000004830	+0.341%	$556K	$3.4M	75x	as long as short
OKX PEPE-USDT-SWAP	+0.0177%	8h	0.000004817	+0.062%	$41.5M	$486.2M	50x	as long as short
Bitget PEPEUSDT	+0.0183%	8h	0.000004812	−0.042%	$42.5M	$150.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004826	+0.254%	$7K	—	15x	as long as short
BloFin PEPE-USDT	+0.0295%	8h	0.000004821	+0.145%	$3.9M	$21.8M	75x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0318% / S −0.0217%	1h	0.000004000	−16.909%	$52K	—	100x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0417%	8h	0.000004822	+0.170%	$29K	$11K	20x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0464%	1h	0.000004836	+0.457%	$582K	$25.2M	50x	as long as short
Phemex u1000PEPEUSDT	+0.0485%	8h	0.000004821	+0.141%	$2.3M	$6.4M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0526%	8h	0.000004809	−0.102%	$5K	$16	20x	as long as short
Injective PEPE/USDC PERP	+0.0555%	1h	0.000004829	+0.312%	$4K	$110K	12x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0581%	1h	0.000004820	+0.125%	$81K	$94K	25x	as long as short
Backpack kPEPE_USDC_PERP	+0.0720%	1h	0.000004819	+0.098%	$93K	$624K	15x	as long as short
Lighter 1000PEPE	+0.0728%	1h	0.000004815	+0.021%	$599K	$5.3M	10x	as long as short
Nado kPEPE-PERP	+0.0731%	1h	0.000004827	+0.261%	$189K	$848K	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0743%	1h	0.000004818	+0.083%	$102K	$762K	25x	as long as short
Kraken Futures PF_PEPEUSD	+0.0760%	1h	0.000004820	+0.128%	$3.9M	$13.1M	50x	as long as short
SoDEX 1000PEPE-USD	+0.0771%	1h	0.000004821	+0.145%	$2K	$9K	10x	as long as short
BingX 1000PEPE-USDT	+0.0820%	8h	0.000004819	+0.102%	—	$254.7M	—	as long as short
MEXC PEPE_USDT	+0.0870%	8h	0.000004807	−0.139%	$91.2M	$292.2M	300x	as long as short
Extended 1000PEPE-USD	+0.0872%	1h	0.000004817	+0.063%	$529K	$147K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0872%	1h	0.000004833	+0.395%	$137K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0873%	8h	0.000004818	+0.079%	$128.4M	$1.02B	75x	as long as short
Aster 1000PEPEUSDT	+0.0904%	8h	0.000004812	−0.032%	$1.5M	$6.9M	50x	as long as short
01 Exchange kPEPEUSD	+0.1208%	1h	0.000004823	+0.187%	$552	$2K	10x	as long as short