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 HTX−0.721%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$690.693% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 3 days (all we have)+0.719%+$72 · spread now −0.721%, 7d avg +0.019%

Together, before fees+0.623%+$62 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 0.739% cheaper against HTX than usual: you would sell low and buy high, −$74 on $10k if it goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX PEPE-USDT	0.000004968	0.0100	pay 0.0100% / 8h	7h 27m	$557K	$3.5M	75x
Short	Phemex u1000PEPEUSDT	0.000004932	0.0100	get 0.0100% / 8h	7h 27m	$2.4M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against HTX. 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 HTXbpFee PhemexbpOrdersPrice spread, now −0.721%Rate

Funding earned: $0
Price spread: −0.721% → +0.019%: −$73.95
Slippage, 4 orders: −$45.28
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$143.23
Costs to cover: 0.693%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; Phemex: live order book, 6 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 HTX live order book, 1 min ago	10.38 bp	17.4 bp −$17	50.9 bp −$509	127.1 bp −$12.7K	doesn't fit
Sell Phemex live order book, 6 min ago	3.24 bp	16.5 bp −$16	30.1 bp −$301	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
Kraken Futures PF_PEPEUSD	−0.0118%	1h	0.000004938	−0.598%	$3.9M	$14.0M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004964	−0.078%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0006% / S −0.0006%	1h	0.000004926	−0.841%	$15K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004966	−0.038%	$58K	$119K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004943	−0.501%	$91.7M	$304.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004934	−0.682%	$157.0M	$66.7M	75x	as long as short
KuCoin PEPEUSDTM	+0.0100%	8h	0.000004939	−0.590%	$25.1M	$56.1M	75x	as long as short
Bitget PEPEUSDT	+0.0100%	8h	0.000004945	−0.465%	$43.1M	$152.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004960	−0.164%	$585K	$4.3M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000004971	+0.068%	$52K	$379K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX 1000PEPE-USDT	+0.0100%	8h	0.000004937	−0.618%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004937	−0.622%	$2K	$12K	10x	as long as short
HTX PEPE-USDTlong	+0.0100%	8h	0.000004968	long leg	$557K	$3.5M	75x
Phemex u1000PEPEUSDTshort	+0.0100%	8h	0.000004932	−0.721%	$2.4M	$6.6M	50x
OKX PEPE-USDT-SWAP	+0.0181%	8h	0.000004947	−0.421%	$43.4M	$526.9M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004920	−0.969%	$7K	—	15x	as long as short
Paradex kPEPE-USD-PERP	+0.0206%	8h	0.000004964	−0.087%	$6K	$16	20x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0287%	8h	0.000004936	−0.634%	$30K	$14K	20x	as long as short
BloFin PEPE-USDT	+0.0302%	8h	0.000004974	+0.123%	$4.0M	$23.6M	75x	as long as short
Lighter 1000PEPE	+0.0368%	1h	0.000004945	−0.461%	$579K	$6.7M	10x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004945	−0.461%	$661K	$26.9M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0440%	1h	0.000004944	−0.481%	$102K	$754K	25x	as long as short
Nado kPEPE-PERP	+0.0472%	1h	0.000004919	−0.991%	$190K	$857K	10x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0477% / S −0.0379%	1h	0.000004000	−19.483%	$61K	—	100x	as long as short
BingX 1000PEPE-USDT	+0.0480%	8h	0.000004942	−0.515%	—	$257.1M	—	as long as short
01 Exchange kPEPEUSD	+0.0480%	1h	0.000004926	−0.843%	$1K	$2K	10x	as long as short
Aevo 1000PEPE-PERP	+0.0488%	1h	0.000004940	−0.562%	$140K	—	3x	as long as short
Binance 1000PEPEUSDT	+0.0494%	8h	0.000004945	−0.453%	$137.9M	$1.10B	75x	as long as short
Extended 1000PEPE-USD	+0.0496%	1h	0.000004942	−0.525%	$543K	$148K	25x	as long as short
MEXC PEPE_USDT	+0.0497%	8h	0.000004942	−0.519%	$98.2M	$285.0M	300x	as long as short
Aster 1000PEPEUSDT	+0.0527%	8h	0.000004944	−0.476%	$1.5M	$7.5M	50x	as long as short
Backpack kPEPE_USDC_PERP	+0.0554%	1h	0.000004940	−0.562%	$94K	$601K	15x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0561%	1h	0.000004938	−0.602%	$67K	$110K	25x	as long as short
Injective PEPE/USDC PERP	+0.0636%	1h	0.000004983	+0.304%	$4K	$102K	12x	as long as short
Hyperliquid kPEPE	+0.0680%	1h	0.000004956	−0.240%	$59.1M	$119.5M	10x	as long as short