Funding arb · Price arb /

PEPE

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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: Variational Omni against Gate−0.909%7-day average −0.054% · you buy dearer than you sell

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

Long on Gate Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.862%+$86 · spread now −0.909%, 7d avg −0.054%

Together, before fees+0.859%+ Points / potential airdropVariational Omni: Active · farm board+$86 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 0.855% cheaper against Gate than usual: you would sell low and buy high, −$86 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PEPE_USDT	0.000005327	0.0100	pay 0.0100% / 8h	3h 51m	$175.6M	$85.5M	75x
Short	Variational Omni 1000PEPE	0.000005279	0.0100	get 0.0100% / 8h	3h 51m	$747K	$5.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee Variational OmnibpOrdersPrice spread, now −0.909%Rate

Funding earned: $0
Price spread: −0.909% → −0.054%: −$85.53
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$100.53
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 2 min ago; Variational Omni: RFQ quote, 3 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 Gate live order book, 2 min ago	1.89 bp	12.7 bp −$13	17.4 bp −$174	64.1 bp −$6,409	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	4.76 bp	doesn't fit	23.8 bp −$238	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	0.000005321	−0.111%	$20K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0007%	1h	0.000005336	+0.171%	$4K	—	150x	as long as short
Injective PEPE/USDC PERP	+0.0092%	1h	0.000005258	−1.295%	$3K	$110K	12x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000005330	+0.056%	$70K	$152K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000005319	−0.148%	$103.9M	$368.8M	50x	as long as short
Gate PEPE_USDTlong	+0.0100%	8h	0.000005327	long leg	$175.6M	$85.5M	75x
KuCoin PEPEUSDTM	+0.0100%	8h	0.000005332	+0.090%	$26.9M	$67.2M	75x	as long as short
Variational Omni 1000PEPEshort	+0.0100%	8h	0.000005279	−0.909%	$747K	$5.0M	—
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005303	−0.447%	$38K	$492K	20x	as long as short
SunX 1000PEPE-USDT	+0.0100%	8h	0.000005339	+0.229%	$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	0.000005345	+0.338%	$618K	$3.8M	75x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000005336	+0.167%	$8K	—	15x	as long as short
Bitget PEPEUSDT	+0.0249%	8h	0.000005328	+0.021%	$49.2M	$184.0M	75x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0375%	8h	0.000005344	+0.312%	$36K	$26K	20x	as long as short
OKX PEPE-USDT-SWAP	+0.0409%	8h	0.000005325	−0.038%	$52.2M	$671.6M	50x	as long as short
BloFin PEPE-USDT	+0.0527%	8h	0.000005323	−0.075%	$4.6M	$27.9M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0609%	8h	0.000005336	+0.167%	$2.6M	$7.4M	50x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0712%	1h	0.000005343	+0.300%	$757K	$36.2M	50x	as long as short
BingX 1000PEPE-USDC	+0.0742%	8h	0.000005326	−0.017%	—	$2.3M	—	as long as short
Extended 1000PEPE-USD	+0.0792%	1h	0.000005327	+0.009%	$566K	$226K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0792%	1h	0.000005343	+0.300%	$151K	—	3x	as long as short
MEXC PEPE_USDT	+0.0794%	8h	0.000005331	+0.068%	$103.9M	$291.7M	300x	as long as short
Paradex kPEPE-USD-PERP	+0.0798%	8h	0.000005332	+0.093%	$6K	—	20x	as long as short
Binance 1000PEPEUSDT	+0.0800%	8h	0.000005324	−0.052%	$155.2M	$1.30B	75x	as long as short
Nado kPEPE-PERP	+0.0848%	1h	0.000005326	−0.018%	$189K	$913K	10x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0875%	1h	0.000005340	+0.244%	$76K	$126K	25x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0876% / S −0.1728%	1h	0.000005000	−6.139%	$65K	—	100x	as long as short
SoDEX 1000PEPE-USD	+0.0894%	1h	0.000005338	+0.206%	$2K	$10K	10x	as long as short
Aster 1000PEPEUSDT	+0.0933%	8h	0.000005345	+0.334%	$1.9M	$9.9M	50x	as long as short
Lighter 1000PEPE	+0.0992%	1h	0.000005339	+0.225%	$666K	$8.5M	10x	as long as short
01 Exchange kPEPEUSD	+0.1344%	1h	0.000005332	+0.094%	$643	$3K	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.1482%	1h	0.000005345	+0.338%	$74K	$721K	15x	as long as short
Kraken Futures PF_PEPEUSD	+0.1530%	1h	0.000005336	+0.173%	$4.9M	$16.2M	50x	as long as short
Hyperliquid kPEPE	+0.1720%	1h	0.000005345	+0.338%	$58.4M	$144.0M	10x	as long as short
ApeX Omni 1000PEPEUSDT	+0.2018%	1h	0.000005320	−0.131%	$176K	$798K	25x	as long as short