Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h −0.019%

Price spread now: MEXC against Deribit+0.044%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.225% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)−0.339%−$34 · spread now +0.044%, 7d avg +0.029%

Together, before fees−0.323%−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit 1000PEPE_USDC-PERPETUAL	0.000004999	0.0551	pay 0.0069% / 1h	29m 16s	$61K	$114K	25x
Short	MEXC PEPE_USDT	0.000005001	0.0616	get 0.0616% / 8h	5h 29m	$94.0M	$289.3M	300x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now +0.044%Rate

Funding earned: $13.69
Price spread: +0.044% → +0.029%: $1.47
Slippage, 4 orders: −$15.5
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$7.34
Costs to cover: 0.225%
Break-even: 10.8 days

Slippage from Deribit: live order book, 65 min ago; MEXC: live order book, 5 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 Deribit live order book, 65 min ago	5.97 bp	9.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.30 bp	1.5 bp −$1	17.9 bp −$179	49.2 bp −$4,919	76.3 bp −$38.1K

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	0.000005006	+0.149%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000005000	+0.016%	$14K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005015	+0.320%	$64K	$138K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004998	−0.022%	$97.5M	$337.3M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000005005	+0.120%	$163.4M	$75.0M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005010	+0.212%	$25.9M	$62.5M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000005016	+0.350%	$676K	$4.7M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004991	−0.157%	$35K	$435K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005017	+0.358%	$2K	$2.4M	20x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000005011	+0.232%	$569K	$3.6M	75x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PEPEUSDT	+0.0101%	8h	0.000005000	+0.022%	$46.0M	$172.3M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005008	+0.186%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0320%	8h	0.000005001	+0.040%	$33K	$24K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0322%	8h	0.000005003	+0.080%	$45.1M	$583.2M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0368%	1h	0.000005016	+0.340%	$98K	$753K	25x	as long as short
BloFin PEPE-USDT	+0.0442%	8h	0.000005003	+0.080%	$4.3M	$25.0M	75x	as long as short
Deribit 1000PEPE_USDC-PERPETUALlong	+0.0551%	1h	0.000004999	long leg	$61K	$114K	25x
SoDEX 1000PEPE-USD	+0.0562%	1h	0.000004999	0.000%	$2K	$12K	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0576%	1h	0.000005019	+0.400%	$914K	$31.2M	50x	as long as short
BingX 1000PEPE-USDT	+0.0581%	8h	0.000005007	+0.162%	—	$261.1M	—	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0592% / S −0.1060%	1h	0.000004000	−19.984%	$47K	—	100x	as long as short
Extended 1000PEPE-USD	+0.0616%	1h	0.000005000	+0.013%	$530K	$226K	25x	as long as short
MEXC PEPE_USDTshort	+0.0616%	8h	0.000005001	+0.044%	$94.0M	$289.3M	300x
Aevo 1000PEPE-PERP	+0.0616%	1h	0.000004997	−0.040%	$141K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0618%	8h	0.000005000	+0.028%	$139.5M	$1.20B	75x	as long as short
Aster 1000PEPEUSDT	+0.0712%	8h	0.000005017	+0.356%	$1.8M	$9.1M	50x	as long as short
Paradex kPEPE-USD-PERP	+0.0777%	8h	0.000005011	+0.231%	$6K	—	20x	as long as short
Nado kPEPE-PERP	+0.0856%	1h	0.000005006	+0.133%	$181K	$870K	10x	as long as short
Phemex u1000PEPEUSDT	+0.0870%	8h	0.000005012	+0.260%	$2.4M	$7.1M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0955%	1h	0.000005013	+0.276%	$94K	$625K	15x	as long as short
Injective PEPE/USDC PERP	+0.0973%	1h	0.000005105	+2.120%	$4K	$102K	12x	as long as short
01 Exchange kPEPEUSD	+0.0976%	1h	0.000005015	+0.320%	$605	$3K	10x	as long as short
Lighter 1000PEPE	+0.1288%	1h	0.000005002	+0.060%	$686K	$8.1M	10x	as long as short
Kraken Futures PF_PEPEUSD	+0.1392%	1h	0.000004999	−0.007%	$4.2M	$15.1M	50x	as long as short
Hyperliquid kPEPE	+0.1700%	1h	0.000005014	+0.300%	$53.5M	$139.3M	10x	as long as short