Funding arb · Price arb /

PEPE

all PEPE markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0536%/8h= −58.6% APRpaid last 24h −0.100%

Price spread now: KuCoin against Injective−0.460%7-day average −0.591% · you buy dearer than you sell

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$100as in the Price arb table

costs, in and out, $10k−$1131.128% of the position

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.383%−$38 on $10k

Price spread, last 3 days (all we have)+0.381%+$38 · spread now −0.460%, 7d avg −0.591%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.131% dearer against Injective than usual: you sell high and buy low (spread −0.460% now, against its 7-day average of −0.591%): +$13 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 20 hours. At the pace of the last 7 days (−0.383% in total) that is about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PEPE/USDC PERP	0.000005004	0.0636	pay 0.0079% / 1h	0m 35s	$4K	$102K	12x
Short	KuCoin PEPEUSDTM	0.000004981	0.0100	get 0.0100% / 8h	7h 00m	$25.0M	$58.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Injective. 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 InjectivebpFee KuCoinbpOrdersPrice spread, now −0.460%Rate

Funding earned: −$112.46
Price spread: −0.460% → −0.591%: $13.1
Slippage, 4 orders: −$100.75
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$212.13
Costs to cover: 1.128%
Break-even: never at this rate

Slippage from Injective: live order book, 8 min ago; KuCoin: live order book, 4 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 Injective live order book, 8 min ago	22.64 bp	59.9 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	1.59 bp	12.9 bp −$13	18.9 bp −$189	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	0.000004971	−0.650%	$3.9M	$14.3M	50x	as long as short
dYdX PEPE-USD	0.0000%	1h	0.000004989	−0.298%	$18K	$95	10x	as long as short
gTrade (Gains Network) PEPE/USD	L +0.0005% / S −0.0005%	1h	0.000004974	−0.592%	$3K	—	150x	as long as short
Pacifica kPEPE	+0.0100%	1h	0.000004990	−0.280%	$59K	$120K	10x	as long as short
Bybit 1000PEPEUSDT	+0.0100%	8h	0.000004975	−0.584%	$95.1M	$313.0M	50x	as long as short
Gate PEPE_USDT	+0.0100%	8h	0.000004986	−0.360%	$160.4M	$69.8M	75x	as long as short
KuCoin PEPEUSDTMshort	+0.0100%	8h	0.000004981	−0.460%	$25.0M	$58.2M	75x
Bitget PEPEUSDT	+0.0100%	8h	0.000004977	−0.532%	$44.1M	$156.6M	75x	as long as short
Variational Omni 1000PEPE	+0.0100%	8h	0.000004975	−0.587%	$544K	$4.5M	—	as long as short
edgeX 1000PEPEUSDC	+0.0100%	4h	0.000005028	+0.472%	$46K	$387K	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	0.000004985	−0.380%	$2K	$2.4M	20x	as long as short
SoDEX 1000PEPE-USD	+0.0100%	1h	0.000004979	−0.500%	$2K	$12K	10x	as long as short
HTX PEPE-USDT	+0.0100%	8h	0.000004975	−0.584%	$557K	$3.5M	75x	as long as short
Phemex u1000PEPEUSDT	+0.0100%	8h	0.000004974	−0.592%	$2.4M	$6.8M	50x	as long as short
ApeX Omni 1000PEPEUSDT	+0.0154%	1h	0.000005019	+0.300%	$110K	$751K	25x	as long as short
OKX PEPE-USDT-SWAP	+0.0188%	8h	0.000004974	−0.600%	$43.9M	$544.0M	50x	as long as short
Reya kPEPERUSDPERP	+0.0189%	1h	0.000004976	−0.559%	$8K	—	15x	as long as short
Orderly PERP_1000PEPE_USDC	+0.0270%	8h	0.000004980	−0.480%	$32K	$22K	20x	as long as short
BloFin PEPE-USDT	+0.0308%	8h	0.000004979	−0.500%	$4.2M	$24.3M	75x	as long as short
Paradex kPEPE-USD-PERP	+0.0312%	8h	0.000004989	−0.305%	$6K	$16	20x	as long as short
Deribit 1000PEPE_USDC-PERPETUAL	+0.0353%	1h	0.000004975	−0.580%	$60K	$114K	25x	as long as short
Coinbase International 1000PEPE-PERP-INTX	+0.0368%	1h	0.000004979	−0.500%	$640K	$27.9M	50x	as long as short
BingX 1000PEPE-USDT	+0.0452%	8h	0.000004987	−0.342%	—	$257.8M	—	as long as short
Binance 1000PEPEUSDT	+0.0466%	8h	0.000004980	−0.474%	$137.1M	$1.14B	75x	as long as short
MEXC PEPE_USDT	+0.0470%	8h	0.000004995	−0.180%	$95.5M	$293.8M	300x	as long as short
Extended 1000PEPE-USD	+0.0472%	1h	0.000004985	−0.382%	$546K	$199K	25x	as long as short
Aevo 1000PEPE-PERP	+0.0472%	1h	0.000004996	−0.160%	$141K	—	3x	as long as short
GMX PEPE/USD [ETH-USDC]	L +0.0500% / S −0.0407%	1h	0.000004000	−20.064%	$62K	—	100x	as long as short
Aster 1000PEPEUSDT	+0.0525%	8h	0.000004989	−0.302%	$1.7M	$7.8M	50x	as long as short
Nado kPEPE-PERP	+0.0618%	1h	0.000004974	−0.606%	$183K	$868K	10x	as long as short
Injective PEPE/USDC PERPlong	+0.0636%	1h	0.000005004	long leg	$4K	$102K	12x
Lighter 1000PEPE	+0.0656%	1h	0.000004995	−0.180%	$644K	$6.9M	10x	as long as short
Backpack kPEPE_USDC_PERP	+0.0658%	1h	0.000004974	−0.590%	$98K	$607K	15x	as long as short
01 Exchange kPEPEUSD	+0.0680%	1h	0.000004989	−0.300%	$1K	$2K	10x	as long as short
Hyperliquid kPEPE	+0.2313%	1h	0.000004995	−0.180%	$55.4M	$133.5M	10x	as long as short